Deutsche Geschichte: Urzeit und Mittelalter

The work of the Stock Exchange

Bibliographic data

Multivolume work

Identifikator:: 1892063557

Document type:: Multivolume work

Author:: Lamprecht, Karl http://d-nb.info/gnd/118569015

Title:: Deutsche Geschichte

Place of publication:: Berlin

Publisher:: Gaertner

Year of publication:: 1891-

Collection:: Economics Books

Usage license:: Get license information via the feedback formular.

Volume

Identifikator:: 1892064774

URN:: urn:nbn:de:zbw-retromon-237066

Document type:: Volume

Author:: Lamprecht, Karl http://d-nb.info/gnd/118569015

Title:: Urzeit und Mittelalter

Volume count:: Abt. 1

Place of publication:: Freiburg im Breisgau

Publisher:: Heyfelder

Year of publication:: 1904

Scope:: XVI, 420 S.

Digitisation:: 2022

Collection:: Economics Books

Usage license:: Get license information via the feedback formular.

Chapter

Document type:: Multivolume work

Structure type:: Chapter

Title:: Neuntes Buch

Collection:: Economics Books

433 nificant, however, that the Constitution of the Exchange con- tains the following provision :*® THE COMMISSION HOUSE The acceptance and carrying of an account for a customer, whether a member or a non-member, without proper and adequate margin, may constitute an act detrimental to the interest and welfare of the Exchange. Safeguarding the Broker’s “Box.”—From the foregoing description of a single customer’s experience with his broker- age house, as well as from what has already been said concern- ing the general machinery of the Stock Exchange in earlier chapters, a fair idea can be obtained of the daily routine of a typical Wall Street commission house. One picturesque fea- ture of this routine, however, remains to be mentioned. Many Exchange houses, because of their unwillingness to leave security certificates of considerable value “in the box” in their offices overnight, rent safe deposit vaults from the New York Stock Exchange Safe Deposit Company in the basement of the Stock Exchange building,* or from other safety deposit com- panies. Before the opening of the market each morning, em- ployees of Exchange houses may be seen, followed by their guards, removing from the Broad Street entrance to the Safe Deposit Company’s vaults the heavy steel boxes of their firms containing the securities belonging to them, their partners, and their customers. And later on, after the Exchange has closed and business for the day is over, they return with their closely guarded burdens, and redeposit them in the vaults for the night. The Stock Exchange was originally created to provide a free and open organized securities market where the American public could purchase and sell the leading American stocks and bonds. For over a century it has rendered indispensable eco- nomic services to the whole nation. Without the facilities pro- vided by the Exchange houses for executing the orders of the public, the present broad and continuous securities market on 2 gee Gonstitution (Rules, Chapter XIT)

Access restriction

Copyright

fullscreen: The work of the Stock Exchange

Multivolume work

Volume

Chapter

Table of contents

Download

Monograph

Chapter

This page

Image fragment

Citation links

Citation recommendation