412 THE WORK OF THE STOCK EXCHANGE
way of saying “Mexican Petroleum.” But in time he too will
learn to refer to the Atchison, Topeka & Santa Fe Railway
(A) inelegantly but concisely as “Atch,” or the Missouri, Kan-
sas & Texas Railroad (KT) as “Katy.” This queer and some-
times fantastic slang used in brokerage circles undoubtedly
saves valuable time, and is convenient, practical, and simple
enough—once it is understood.
Departments of the Commission House.—Facing the
stock board are several rows of armchairs where the customers
of the firm can sit and watch the fluctuations in prices shown
on the board. Close at hand to the customers’ chairs is the
order department, which handles the execution of such orders
as the customers in the office may tender it, and such tele-
phoned, telegraphed, or written orders as come in to the firm.
Nearby is the cashier’s cage, in many ways the real executive
center of the office. * In adjoining rooms are the private offices
of the firm partners, the accounting department where the
firm’s bookkeepers work, and perhaps an unlisted department,
which handles orders for securities not listed upon the Stock
Exchange, and which usually consists of a desk, a telephone, a
few financial manuals, and one of the quickest and most
incisive brains in the office.
In addition, there is the statistical department, which often
carries on general financial educational and publicity work, pre-
pares special reports for the firm or its customers on various
financial topics, issues circulars and market letters, and per-
forms a variety of other practical and necessary routine work
for the firm. "The educational work done by Stock Exchange
brokerage offices all over the country is valuable from a na-
tional standpoint, since it acquaints the public with current
economic problems and makes available everywhere informa-
tion regarding investments—a significant service when the
ignorance of many investors and the persistence of clever and
daring stock swindlers are remembered.
