Advertisement by members, 42 outside brokers, 43
Allotment, dealings before, 98-100 Royal Commission on, 133, 137
Apprenticeship of members, 18-19 Royal Commission on, 127-8
Bank of England, Stock Exchange in, 43, 142-3
Bears, 65-71 definition, 67 cornered, 71 covering, 71 raid, 71 their effect, 70
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
Bulls, definition, 67 stale, 71 their effect, 70
Business, how it is transacted, 45 done, record of, 117-18
Capel Court, 6 Stock Exchange established in, 141-2
Capital, organisation of, 3-4 of the Stock Exchange, 13
Change Alley, Stock Exchange in, 65, 139, 140-2
Clearing house. _See_ Settlement Department
Committee, the, 26-31 election, 26 meetings, 28 powers, 27-8 qualification, 27 Royal Commission on, 126-7
Consols, put option on, 73-4 put and call on, 76-7 transfer of, 85-7
Defaulter, 60, 101-8, 131 assistance forbidden to, 101 declaring a, 102 and clients, 103-6 readmission of, 106-8, 131
Differences, speculation for, 50 payment of, 60
Dividends paid by the Stock Exchange, 16-17
Dual control of the Stock Exchange, 30 Royal Commission on, 126
Entrance fee for members, 21, 25 authorised clerks, 23 unauthorised clerks, 24
Establishment of the Stock Exchange, 141-2
Ex dividend, 115-16 rights, new, all, 117
Gambling, speculation, and investment, 130, 165-8
Jobbers, 32-44 as specialists, 34-5 abolition question, 129
Making a market, 113 Mr. Justice Wright on, 148
Members, 18-25 admission, 20-21 apprenticeship as clerks, 18-19, 25 directory of, 124
"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
Prices, double, 45-6 marking, 48 wide, 46-7
Price lists and records, 109-24 brokers', 120
Royal Exchange as the Stock Exchange, 138
Settlement, the, 56-64 office work of the, 159-60 special, 62, 98