Employment psychology

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Monograph

Identifikator:: 826042163

URN:: urn:nbn:de:zbw-retromon-35589

Document type:: Monograph

Author:: Kolb, Georg Friedrich http://d-nb.info/gnd/118564765

Title:: Handbuch der vergleichenden Statistik- der Völkerzustands- und Staatenkunde

Edition:: 4. umgearb. Aufl.

Place of publication:: Leipzig

Publisher:: Felix

Year of publication:: 1865

Scope:: 1 Online-Ressource (XX, 548 S.)

Collection:: Economics Books

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406 THE WORK OF THE STOCK EXCHANGE and composition of misunderstandings concerning contracts between members. 2. By clearing transactions in the most active securities, about 50% of the security deliveries otherwise necessary are obviated. 3. By installing facilities for central delivery, important savings of time, labor, and overhead expense are effected for members and for New York banks. oF DOLLARS OBVIATION OF FUNDS 110 — % 100 20 "RCENTAG OF FUNDS DBVIATED o 2 wl B06 70 ' AMOUNT OF JNDS OBVIATED 2 80 10 we Iso 1921 1922 1923 1924 1925 1926 1927 1928 1929 Figure 49. Annual Obviation of Banking Accommodation by the Stock Clearing Corporation 4. By issuing transfer and exchange receipts, sometimes large amounts of stocks and bonds are rendered liquid and assignable even when the certificates themselves are in transfer. 5. By the clearance and settlement of securities and money, huge savings in the use of banking accommodation are made (Figure 49).*® In consequence, the need of Exchange mem- bers to secure temporary accommodation at the banks in the 18 See Appendix XIVe.

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