The work of the Stock Exchange

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Monograph

Identifikator:: 1831284952

URN:: urn:nbn:de:zbw-retromon-225876

Document type:: Monograph

Author:: Meeker, James Edward http://d-nb.info/gnd/126597340

Title:: The work of the Stock Exchange

Edition:: Revised edition

Place of publication:: New York

Publisher:: The Ronald Press Company

Year of publication:: [1930]

Scope:: XVI, 720 Seiten; Illustrationen, Diagramme

Digitisation:: 2022

Collection:: Economics Books

Usage license:: Get license information via the feedback formular.

538 APPENDIX or in the past—it is certain that in poor states there is no spare money for new and great undertakings, and that in most rich states the money is too scattered, and clings too close to the hands of the owners, to be often obtainable in large quantities for new purposes. A place like Lombard Street, where in all but the rarest times money can always be obtained upon good securities or upon decent prospects of probable gain, is a luxury which no country has ever enjoyed with even comparable equality before.” (Walter Bagehot. “Lombard Street.” 1878.) (Ie) If the old stock in the railroad company cited sells at 115 on the Exchange, while the subscription price to holders of a “right” for new stock is 100, the value of the right is determined in the follow- ing manner: Each purchaser or holder of 10 shares of old stock at 115 can acquire another share, or 11 shares altogether, with an additional $100. Thus his 11 shares will be worth $1,250, or $113.63 apiece. But since the old stock is selling at $115 per share, the value of a right would amount to the difference between these figures, or to $1.37 per right. If such rights were listed upon the Exchange, they would be quoted at about 138. (Id) The issues listed upon the New York Stock Exchange on January 1, 1930, classified according to sources of issue, were as follows GOVERNMENT BoNDS U. S. GOVERNMENT US. Federal... iii iiiiinsitesaraasnansons U S. Territories and Possessions. .......-... U.S. States and Counties. . ........covneunnn. U. S. Cities Gov't Issues 12 6 22 25 65 Total U. S.... je FOREIGN GOVERNMENT Africa... ee ee ABI. ons dbnrissinansns Australasia. ........... Europe................ North America......... South America. ....... National Gov't Issues Subdivisional Gov't Issues Total Gov't Issues MN ¥ o A 0 9 9 92 17 76 2073 { a Fe IG 36 106 xy Total Foreign..... ao Total U. S. and For- eign Government Bonds nn) 124 68 144 107 268

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