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

the price and fixes the level of value to which Berlin is compelled to conform. If, in the course of time, the interest in Turks in Paris gradually diminishes, and the people of Berlin or any other centre should become the largest holders of Turks, then the position would be reversed, and the Berlin or some other Stock Exchange would commence to dominate the market in Turks. In this way the principal markets for in ternationally held stocks are constantly changing, and the dominating centre of a stock does not depend upon its nationality, but upon the place where it is principally dealt in. Thus, the principal market for the Loans of the United States of America was at one time in London, but has now been transferred to New York. In the same way the Grand Trunk Railway is really a purely Canadian enterprise, but no Canadian or American Stock Exchange can at present control the price of its stocks, as London dominates the market ; whilst in the case of the shares in the Rio Tinto Copper Mine, which is situated in Spain, there is no independent market either on the Madrid or Barcelona Bourses. The shares are held in Prance and England, and the London or . the Paris quotation alternately dominates the

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