Deutsche Geschichte: Urzeit und Mittelalter

Urzeit und Mittelalter (Abt. 1)

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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

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Volume

Identifikator:: 1892064901

URN:: urn:nbn:de:zbw-retromon-238006

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:: XIX, 488 S.

Digitisation:: 2022

Collection:: Economics Books

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Document type:: Multivolume work

Structure type:: Chapter

Title:: Elftes Buch

Collection:: Economics Books

332 THE WORK OF THE STOCK EXCHANGE £87.50 to eight other firms. Before the institution of the clearance system it would have required trips to nine separate offices, the receiving of eleven deliveries, the handling of 4,300 shares of stock, and the employment of $444,950 of bank credit to settle these contracts. But under the system of security clearance in the Night Branch, of which the clearance sheet is the record (and without consideration of the further econo- mies effected by the Day Branch of the Stock Clearing Cor- poration), Jenkins & Co. can settle the day’s business by pay- ing $21,000 and getting 200 Reading, by receiving $45,000 and delivering 300 Steel, and by drawing a draft against the clearing house for $2,225. pote ont) ean Bionck * up ilivint) I 3 Ay pris EGR No lran_ Nore. Guckigef as Jin niyufll La ut: TIER - Ly meen Tayllloordugllcandisy ed yeh rr mr le or 2,2 - ? Fioure 20. Night Clearing Branch Draft Delivery of the Clearance Sheet.—I et us see by what operations the Night Branch is able to bring about these huge economies. Jenkins & Co. preserves a record of the various items on its clearance sheet on what is known as its “clearing house blotter,” *® along with interest charges and other items of value to the firm but not to the Stock Clearing Corporation. The clearance sheet itself, which constitutes legal proof of delivery, is sent to the Night Branch that evening. The Stock Clearing Corporation retains these clearance sheets for a period of about ten years. The rule is that before 7 p.m. on the day when the above transactions are made, Jenkins & Co. must deliver its clearance sheet to the Night Branch of the Corpora- TT To See Chapter XV, p. 418.

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