Alleged Divulgence of President's Note to Belligerent Powers; Hearings Before the Committee on Rules, House of Representatives, Sixty-Fourth Congress, Second Session, on H. Res. 420, Asking for Investigation of Conflicting Volume 1-14

Alleged Divulgence of President's Note to Belligerent Powers; Hearings Before the Committee on Rules, House of Representatives, Sixty-Fourth Congress, Second Session, on H. Res. 420, Asking for Investigation of Conflicting Volume 1-14

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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1917 edition. Excerpt: ...they borrow and lend to their customers? Mr. Noble. They get more than that, I think; of course that varies; some of the nouses charge more and some less. But when they carry a great many stocks, of course, the interest account is a great source of additional profit. Mr. Whipple. That is, when they are carrying stocks? Mr. Noble. Yes, sir. Mr. Whipple. Those are the only two ways known to the stock exchange and its president of securing lucrative income to the brokers from their stock market activities, unless they themselves speculate. Mr. Noble. Yes, sir; unless they themselves speculate. Mr. Whipple. That is, leaving out promotions and things of that sort, which are outside the exchange? Mr. Noble. Yes. sir; we are talking exclusively about stock exchange operations. Mr. Whipple. We are talking about brokers and their activities on the exchange. Of course, perhaps, I ought not to trouble you with this question, but it is coming up and the committee might work on your definition of some of the terms that have come to bo used in the vernacular of what is called "The Street," the stock exchange. What are short sales? Mr. Noble. A short sale is a contract to deliver something which you expect to be able to obtain cheaper. Mr. Whipple. That is, it is a contract to sell something that you have not got but that you hope to get? Mr. Noble. Yes. Mr. Whipple. As you say, cheaper? Mr. Noble. Yes. Mr. Whipple. Therefore, when a man makes a short sale, so-called, he is expecting to have something happen that will enable him to buy that particular security, which he has agreed to sell, at a lower figure at some future time? Mr. Noble. He is in exactlv the same position on the opposite side as the man who buys something and is expecting to have something...show more

Product details

  • Paperback | 410 pages
  • 189 x 246 x 21mm | 730g
  • Rarebooksclub.com
  • Miami Fl, United States
  • English
  • black & white illustrations
  • 1236680618
  • 9781236680617