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.

REFERENCES FOR FURTHER STUDY 679 ITI, valuable original material on the call money market. On the same lines, the “La Follette resolution” hearings of 1928 are also enlightening. © Whitney's address in Boston (1930) gives intimate details of the 1929 panic. Meanwhile, material has been available from the Stock Exchange itself: Van Antwerp in 1914, Martin in 1919, and Meeker (1st ed.) in 1922. Annual Presidents’ Reports have been issued since 1921-23. President Simmon’s address “New York: Metropolis and Capital Market” sums up briefly over 130 years of consistent Stock Ex- change evolution. The corollary development in the New York banking field can most easily be followed in two centenary volumes—Lanier for the Farmers’ Loan & Trust, and Brown for Brown Bros. & Co. Sprague’s well- known study of pre-Reserve American banking is also fruitful reading. Chapter IV. The Distribution of Securities Emery was the first American economist to realize the full sig- nificance of speculative stock market distribution—witness his “Place of Speculation in the Theory of Distribution.” The author went somewhat further into this important phase of stock market activity in the first edition of this work (1922), and in 1928 published a more elaborate statistical study concerning it in his pamphlet “Distribution of Securities through the Stock Market.” The ratio of Exchange member collateral borrowings to total market value of listings, issued monthly by the Statistical Department of the Exchange since 1926, has also thrown fresh light on this subject (See Annual Presidents’ Reports for and since 1927-28). President Simmons has in his addresses several times alluded to the practical significance of this distributory function of the Stock Exchange—see addresses in Pitts- burgh (1928) and Atlanta (1929). For additional material on prelim- inary distribution, consult the pamphlet “The New York Curb Market,” Galston on syndicates and Sturgis’ original book on investment. The appendices to this chapter give the New York Stock Exchange listing requirements in full. Consult also Pomroy testimony, pamphlet by W. D. Williams, and the Simmons’ St. Louis address (1926). The study in listing foreign internal securities by Messrs. Hoxsey, Meeker, and Redmond contains some interesting and obscure material. The author’s unpublished study “Some Notes on Investment Trusts” contains a summary of British experience with investment trusts in the past. Campbell's legal study on transfers, and the works on Blue Sky laws by Reed and Washburn, and also by Spring, provide useful background.

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