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 531 (IVg) The Stock Exchange tries whenever possible to obtain the consent of applicant corporations to publish their earnings on a quarterly basis, in order more frequently to give the public a notion of the proper current value of their securities. This is not, however, always possible. Some companies are engaged in lines of business which are seasonal, and which might normally show losses in certain quarters and huge offsetting profits in others; such concerns are apt to claim that quarterly earnings only mislead investors and lead to unnecessary speculation. Other companies declare that ‘quarterly sarnings can be too easily manipulated (as, for example, with “special bargain sales” by dry goods stores), and that also this full disclosure of information would place them at a disadvantage with competing non-listed concerns who issue infrequent earning statements, or none at all. Foreign companies sometimes are compelled by virtue of the foreign statutes under which they were incorporated, to issue earning statements not oftener than once each year. Finally, the insistence by the Exchange on quarterly earnings has been a gradual evolution, and many old companies listed their securities years ago when their agreements with the Exchange thereto called for only annual or semi- annual earning statements; in such cases, of course, the Exchange cannot attempt to repudiate such agreements and substitute for them others calling for quarterly earning statements. These may be, in particular cases, valid and genuine difficulties in the way of uniformity. Yet they have not discouraged the Exchange from requiring quarterly earning statements unless good reason can be shown by the applicant for leniency in his particular case. It is also gratifying to record the hearty cooperation which the Exchange has received, in its long- continued campaign for more extensive corporate publicity, from some enlightened and progressive American companies like the U. S. Steel Corporation, which has gone further in this regard than the standard listing requirements of the Exchange could do. (IVh) Resolution REsoLvEp that application to be made to the New York Stock Exchange ior the listing of...... cw of this corporation and that.................. __ ___.....be designated by the corporation to appear before the Committee on Stock List of said Exchange, with authority to make such changes in said application, or in any agreements relative thereto as may be necessary to conform with re- quirements for listing.

Access restriction

Copyright

fullscreen: The work of the Stock Exchange

Monograph

Table of contents

Download

Monograph

This page

Image fragment

Citation links

Citation recommendation