Investment, an exact science

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Monograph

Identifikator:: 865521182

URN:: urn:nbn:de:zbw-retromon-48767

Document type:: Monograph

Author:: Lowenfeld, Henry

Title:: Investment, an exact science

Place of publication:: London

Publisher:: The Financial Review of Reviews

Year of publication:: 1906

Scope:: 1 Online-Ressource (X, 160 Seiten)

Collection:: Economics Books

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Document type:: Monograph

Structure type:: Chapter

Title:: Chapter VII - The world's stock markets

Collection:: Economics Books

British Consols can, of course, he dealt in on every British or Foreign Stock Exchange, as they are known throughout the world ; but nearly all these transactions come directly or indirectly by letter or telegram to London and are finally transacted on the London Stock Exchange, where almost any quantity of the stock can readily he bought or sold. In fact, only London can be relied upon to absorb or supply any substantial amount of the stock, and London is consequently the sole market. In securities which have various large centres, where they are dealt in, like the Turkish securities, this is not so ; they are held largely by the public which make the London, Paris, Berlin, Brussels, Amster dam, Vienna, and other less important Stock Exchanges their places of dealing, and conse quently any one of these centres is always ready to supply or absorb Turkish stocks. In fact, while every important transaction in Consols sends its reflex to London, Turks are dealt in locally, and these dealings only affect indirectly the other places they are quoted. For this reason London alone determines and controls the price of Consols, whilst the price of Turks is determined by international arbitrage dealings.

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