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 583 (8—The Committee in order to facilitate the business of the Exchange, desires that the transfer agent of your Company be directed to sign the Stock Transfer Department receipts for all stock submitted by the Stock Clearing Corporation for transfer. Will you so agree?......... 10—Will you agree to issue new certificates replacing lost ones forthwith upon notification of loss and receipt of proper indemnity, making any changes which may be necessary in your Charter or By-Laws to permit ‘his to be done?... © eetaeieeeanan :0—Will you agree that all calls for redemption (Foreign Bonds) published abroad will be published on the same day or days in a newspaper of general circulation published in the Borough of Manhattan, City of New York?...... cer us .. 21—If action on your application is favorable how many copies of the application do you require printed for you at your expense * 22—In the event any additional papers should be required for the Com. mittee’s files, will you agree to furnish same on request? By.... (IVi) “When a new stock is put on the exchange, or any great exchange like the New York Stock Exchange, there is one thing that is very necessary, and that is that its price shall be steady. When you have no active market in a stock, when you are building up an active market in a new stock, the first thing a banking house does, what it wants to do, and what it must do, whether it makes a profit or loss out of it, is to steady the price of the stock. If people come in to buy 6,000 or 7,000 shares of stock, and there is not much aroand if they do not sell the stock it will be bid way up, and have a big advance. On the other hand, if somebody comes in to sell 6,000 or 7,000 shares, and there are no large buying orders in there, the price of the stock is going to be a great deal lower than it would be otherwise. If you put in buying orders on a scale down and selling orders on a scale up, the effect of that is to steady the price of the stock. Its fluctuation is not as violent or as wide as it would be otherwise.” (Money Trust Investigation, pp. 1282-1283, testimony of Mr. Henry; quoted in Regulation of the Stock Exchange, Dp. 542.) (IVj) “Stocks in a liquidating market pass from what are de- scribed as weak hands to strong hands; stocks pass from the hands of those who buy them and carry them with borrowed money to those who buy them and pay for them. . . . The best evidence, Congress- men, of such a movement, I believe, is found in the stock books of

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