236 THE WORK OF THE STOCK EXCHANGE
at the “Sun Oil” post, as in the case of a round lot order. But
as a more satisfactory method in the case of odd-lot orders, the
telephone clerk will probably turn such orders over to some one
of the several odd-lot firms direct. He therefore writes out the
order on an order blank, seeing that there is a notation upon it
of the name of the odd-lot house in question, and hands it to
one of the tube attendants stationed nearby. The attendant at
once places it in a small cylindrical container and slips it into
the appropriate hole in the nearest pneumatic tube station.
These tube stations are located on the Exchange floor at the
end of the stalls containing the members’ telephones, and each
contains outlets of the pneumatic tubes running to the vari-
ous stock posts. The containers with odd-lot orders shoot
through these tubes and emerge at the various receiving sta-
tions of the tube system at the stock posts. Thus the order for
the “20 Sun Oil” very quickly arrives at the particular post
where that stock is traded in. A tube attendant there at once
takes the order from its container and places it on a rack
reserved for the odd-lot dealer. A floor attendant is specially
designated to see that such orders reach the odd-lot dealer
promptly, so that the latter can handle them as quickly as pos-
sible. If it is an order limited at a price far away from the
market of that moment, he may have to enter it in his book
and sell the customer the 20 Sun Oil desired as soon as market
prices will permit.
During the active business of 1928-29, facilities for sorting
odd-lot orders for the opening were provided in a side room
off the Exchange floor. In the fall of 1929, this system was
utilized for odd-lot orders after the opening also. It partook
of an emergency measure, and the extent of its employment
has depended upon the general activity of the stock market.
As soon as possible after the sale or purchase of an odd-
lot has been made, the odd-lot dealer makes out a report slip
(Figures 16 and 17) which records the price at which the
4 See Appendix IITg.
