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 501 seller’s option, etc.). Thereafter, the floor is determined by precedence of succeeding bids or offers. The largest bid has precedence; as an instance, “A has the bid for 100 shares at 35%; B bids 35% for 500. C offers 500 at 3514.” A is not entitled to buy 100 of the 500. Sale of less than a Unit. A sale of an amount of stock of less than 100 shares does not take a bid or offer for 100 shares from the floor. Larger Amounts than One Unit. In the case of a bidder for 500 shares, one for 200 shares, and one for 100 shares, all at the same price and of equal priority, with 600 offered at the bid price, after supplying the 500 shares, the other 100 of the 600 should go to the bidder for the 200 shares, In the case of three bidders, each for 200 shares, and a bidder for (00 shares, all at the same price and of equal priority, with 500 offered at the bid price, after supplying two of the 200’s, the other 100 of the 500 should go to the odd bidder for 200. Where a stock sells at 18, and a member bids 177%, and no one accepts the bid, and the member then offers 500 at 18, and takes it himself, a claim of another firm, with an order to sell 300 at 18, to share in the 500, is not valid as the 500 share offer has precedence. Where a member bids for 300 shares of a stock, with two other members each bidding for 100, and another member enters the crowd and says, “Sell both,” the 200 should go to the member bidding for 300. Where a member bids for 100 shares of a stock and a second member enters the crowd and offers 200 at the same price, and the first member says, “I will take them,” and a third member says, “Take one,” the 200 should go to the first member. Where there is no dispute regarding a trade except as to the number of shares traded in and neither party can produce a witness, the trade shall be considered to have been for the smaller number of shares. An order to buy or sell a lot exceeding but not a multiple of 100 shares is subject to Section 8(b) of Chapter I of the Rules. A transaction of 100 shares or more will be considered as changing the board and as affecting stop orders, and shall be printed on the tape and sheet, and will not be considered as a special transaction. Where a member, A, has the floor, and, after bidding, his bid is supplied, and he runs the seller up by saying, “Two, Three,” etc., up to say, “Five,” and if the seller then retires, A’s bid, and bids of, say B, C, and D, at the same price, are then on an equal footing. . Claiming Sale. Where a member publicly claims a purchase or sale, such claim shall be construed as a bid or offer, and shall carry the rights and liabilities of such bid or offer. Stopped Stock. If A stops 500 shares of a stock with B at 86, and 100 sells at 86, 200 at 8534 and 200 at 8558, unless there is a specified agreement between A and B that A will take 500 at 86, B sells his stock as it appears on the tape. Reopening Contracts. Attention is called to Section 9 of Chapter XIV of the Rules which provides that “No member shall reopen a contract which is subject to a transfer tax for the purpose of allowing another member to

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