WeRead Powered by ReaderPub
The Stock Exchange cover

The Stock Exchange

Chapter 18: Index.
Open in WeRead

Explore more books like this:

About This Book

This concise guide explains the workings of the securities market for general readers, mapping its role as a marketplace for stocks, bonds, and company shares, the duties of brokers, jobbers, clerks and committees, and the mechanics of trading, settlement, and option dealing. It surveys price lists, record-keeping, failures, and the typical day-to-day life of market practitioners, offers practical hints and restrained criticism, and outlines institutional history and social dimensions, aiming to demystify operations and show how the market organizes capital for investment and enterprise.

INDEX

  • Advertisement by members, 42
    • outside brokers, 43
  • Allotment, dealings before, 98-100
    • Royal Commission on, 133, 137
  • American prices, 156
  • Apprenticeship of members, 18-19
    • Royal Commission on, 127-8
  • Arbitrage firms, 156
  • Architecture of the House, 7
  • Art Society, 164
  • Athletics, 162-3
  • Backwardation, 69
  • Badges for clerks, 25
  • Banging the market, 71
  • Bank of England, Stock Exchange in, 43, 142-3
  • Bankruptcy of members, 102-3
  • Bank shares, dealing in, 145
  • Baring crisis, 147
  • Bar of the house, 9
  • Battle of Throgmorton Street, 148
  • Bearer bonds, 88
  • Bearer securities, settlement in, 61
  • Bears, 65-71
    • definition, 67
    • cornered, 71
    • covering, 71
    • raid, 71
    • their effect, 70
  • Benevolent Fund, 164
  • Boom, 167
  • Brokerage, 39-41, 49-50
    • Royal Commission on, 132
  • Brokers, 32-44
    • advertising by, 42
    • commission. See Brokerage
    • duties of, 150-60
    • licensing of, 136, 139, 146-7
    • list of, 43
    • outside, 43-4, 121
    • price lists of, 119
    • underwriting by, 41-2
    • and jobbers, disputes between, 36-7
    • firms acting as both, 37
  • Bucket shops, 121
  • Bulls, 65-71
    • campaign, 70
  • Bulls, definition, 67
    • stale, 71
    • their effect, 70
  • "Burdett's Official Intelligence," 146
  • Business, how it is transacted, 45
    • done, record of, 117-18
  • Buying in, 61
    • manager, 30
  • Capel Court, 6
    • Stock Exchange established in, 141-2
  • Capital, organisation of, 3-4
    • of the Stock Exchange, 13
  • Carry-over, 51
    • process of, 67-9
  • Certification of transfers, 54
  • Change Alley, Stock Exchange in, 65, 139, 140-2
  • Charity, 161-2, 164-5
  • Checking bargains, 48, 151
    • room, 8
  • Christian Association, 164
  • Clearing house. See Settlement Department
  • Clerks, 23-5
    • provident fund, 164
  • Closing time, 119, 157
  • Commission. See Brokerage
  • Committee, the, 26-31
    • election, 26
    • meetings, 28
    • powers, 27-8
    • qualification, 27
    • Royal Commission on, 126-7
  • Companies Acts, 145
    • Committee on, 146
  • Consols, put option on, 73-4
    • put and call on, 76-7
    • transfer of, 85-7
  • Consol settlement, 56
  • Contango day, 57
    • rate, 68-9
  • Continuation. See Carry-over
  • Contract note, 48-9
  • Cost of the House, 13
  • Coupons, 88
  • Covering by bears, 71
  • Cumulative preference shares, 93
  • Debenture stocks, 91-3
  • Debentures of the Stock Exchange, 14
  • Defaulter, 60, 101-8, 131
    • assistance forbidden to, 101
    • declaring a, 102
    • and clients, 103-6
    • readmission of, 106-8, 131
  • Deferred ordinary shares, 94-6
  • Definitions of the Stock Exchange, 1
  • Differences, speculation for, 50
    • payment of, 60
  • Directory of members, 124
  • Discount, 115
  • Dividends paid by the Stock Exchange, 16-17
  • Drawings of the interior, 8
  • Dual control of the Stock Exchange, 30
    • Royal Commission on, 126
  • Employees, dealing for, 50-51
  • Entrance fee for members, 21, 25
    • authorised clerks, 23
    • unauthorised clerks, 24
  • Establishment of the Stock Exchange, 141-2
  • Exchange Telegraph Company, 121-2
  • Ex dividend, 115-16
    • rights, new, all, 117
  • Expulsion, 28
  • Failures. See Defaulter
  • Fixed charge stocks, 92
  • Foreign Loan Exchange, 142
  • Foreign Loans Committee, 146
  • Foreigners, exclusion of, 18
  • Founders' shares, 96-8
  • Gambling, speculation, and investment, 130, 165-8
  • Garraway's Coffee-house, 139
  • Gorgonzola Hall, 7
  • Guarantors for new members, 20
  • Hall of Commerce, 144
  • Hammering, 102
  • Hammer price, 103
  • History: a sketch, 138-49
  • Holidays, 29, 163
  • "House Annual, The," 161
  • "House on Sport, The," 162
  • Incorporation proposal, 135-7
  • Inscribed stocks, 85-7
  • Interior of the House, 7-13
  • Jobbers, 32-44
    • as specialists, 34-5
    • abolition question, 129
  • Jobber's turn, 47
  • Jonathan's Coffee-house, 140-41
  • King's visit, 8, 146
  • Lame Duck, 65, 71
  • Leeman's Act, 145
  • Library of financial documents, 123-4
  • Literature, 161-2
  • Making a market, 113
    • Mr. Justice Wright on, 148
  • Making a price, 44
  • Making-up day, 57
    • price, 67-8
  • Managers, the, 14
  • Markets in the House, 9-12
  • Marking prices, 48
  • Members, 18-25
    • admission, 20-21
    • apprenticeship as clerks, 18-19, 25
    • directory of, 124
  • Membership restrictions, 18-19, 22
  • Mining Contango day, 57
  • Name day, 51, 57
  • National Debt, 138
  • New House, the, 146
  • Official Assignees, 102, 104, 106
  • "Official Intelligence," 123
  • "Official Intelligence," predecessors, 146
  • Official List, 29, 109-10
    • growth, 5
    • magnitude, 34
    • marking prices for, 48
    • quotation in, 110-15
    • Royal Commission on, 133-5, 137
  • Options, 72-83
    • call, 72, 74
    • day-to-day, 79
    • effect on the market of, 83
    • operating on, 80-83
    • prices for, 77-9
    • put, 72-4
    • put and call, 73, 75-7
  • Orchestral and Choral Society, 164
  • Ordinary shares, 94
  • Overend-Gurney crash, 145
  • Panics, 144
  • Par, 115
  • Partnership prohibition, 33
  • Photographs of the interior, 8
  • Play in the House, 163
  • Population of the House, 18
  • Practical jokes, 163
  • Preference shares, 94
  • Preferred ordinary shares, 94-6
  • Premium, 115
  • Prices, double, 45-6
    • marking, 48
    • wide, 46-7
  • Price lists and records, 109-24
    • brokers', 120
  • Proprietors, the, 13
  • Prospectuses, 112-15
  • Provident Fund, 164
  • Public admission question, 131-2
  • Quotations. See Prices
  • "Railway Intelligence," 146
  • Railway mania, 144
  • Registered securities, 87
  • Rigging the market, 70
  • Royal Commission, 125-37
  • Royal Exchange as the Stock Exchange, 138
  • Rules, 27-8, 142
  • Scrip, 100
    • settlement in, 62
  • Secretary of the Stock Exchange, 15
  • Secretary to the Committee, 30
  • Selling out, 51-2, 61
  • Settlement, the, 56-64
    • office work of the, 159-60
    • special, 62, 98
  • Settlement department, 58-60
    • establishment of, 145
    • manager, 30
    • Royal Commission on, 129
  • Settling room, 8
    • clerks, 24
  • Share, definition of, 1-2, 84
    • certificate, 53-5
  • Share and loan department, 54
    • manager, 30
    • removal, 149
  • Shares of the Stock Exchange, 16
  • Shorter's Court, 119-20
  • Situation of the house, 6-7
  • Slump, 167
  • South Sea House as the Stock Exchange, 139
  • Speculative business restrictions, 50-51
    • made illegal, 140
  • Sport, 162
  • Stags, 66-7
  • Stamp duties, 49
  • Stock, definition of, 1-2, 84
    • certificate, 53-5
    • inscribed, 85-7
  • Strangers in the House, 8
  • Street markets, 119-20
    • battle of the, 148
  • Subscription for members, 21-5
    • authorised clerks, 23
    • unauthorised clerks, 24
  • Superintendent, general, 15
  • Talons, 88
  • Tape prices, 12, 121-2
  • Telephone, use of the, 154-5
  • Tickets, 51-2, 57-9
    • for inscribed stocks, 86
  • Ticket day, 51, 57
  • Transfer, 52-5
    • of Consols, 85-7
  • Transvaal War Fund, 165
    • Refugees' Fund, 165
  • Trustees and Managers, the, 14
  • Trustee stocks, 89
  • Turn, jobber's, 47
  • Underwriting of capital, 41-2
  • Vendors' shares, 98
  • Waiters, 12, 102
  • Wares of the Stock Exchange, 84-100
  • "Weekly Official Intelligence," 122
  • Wide quotations, 46-7, 118
  • x d, 115-16

Transcriber's Notes:

Missing or obscured punctuation was corrected.

Typographical errors were silently corrected.