The work of the Stock Exchange

Bibliographic data

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.

APPENDIX 371 Si1zE [n order to be eligible for listing the aggregate value of the capital, surplus and funded debt of an investment trust, whether managed inde- pendently and directly by its own officers and directors or managed directly or indirectly by other individuals, firms or corporations, should be of such minimum size as will, in the opinion of the Committee, permit successful operation as an investment trust. Such required aggregate of capital, surplus and funded indebtedness will depend upon the organization and purposes of the trust and other general considerations. ORGANIZATION EXPENSES Each application must show in detail all costs of organization and all expenses of selling each class of securities of such trust which may have been issued, together with a precise statement of the net proceeds to the company of each issue of its securities. Excessive costs of organization and of selling the several classes of securities of an investment trust may be considered as a bar to listing, unless such excessive costs have been absorbed prior to the date of the application. LoANs If the application indicates that the company has an excessive amount of unfunded debt or if subsequent reports indicate that such unfunded debt exceeds or tends to exceed prudent limits, the application may be rejected or the securities of the investment trust in question may be stricken from the list, as the case may be. COMMISSIONS As a prerequisite for listing, each individual, firm or corporation which is directly or indirectly concerned with the management of an investment irust and collectively constituting the managers of the trust must agree either with the New York Stock Exchange or in the management contracts with the investment trust that on any securities listed on any recognized stock exchange only the commissions authorized by such exchange shall be charged by such managers on securities bought or sold by such managers for the account of the investment trust and that only customary and reasonable commissions shall be charged by them on unlisted securities which shall be purchased or sold. NoNn-VoTING STOCK In case an investment trust has issued one or more classes of stock which are entitled to preferential dividends but which do not carry the right to vote, such stock shall be accorded the right to vote at all times that as much as one year’s preferential dividends are in arrears, and the right to vote shall continue until arrears have been liquidated. No Non- Voting stocks will be listed unless substantially preferred as to both divi- dends and assets. STATEMENT OF EARNINGS AND SURPLUS A comprehensive and detailed statement of earnings and surplus shall be prepared and published within thirty days after the close of at least ach annual fiscal period. Such statement shall also be submitted to stock-

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