The Art of Investing (Paperback)

Book may have numerous typos, missing text, images, or index. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. 1888. Not illustrated. Excerpt: ... APPENDIX. INVESTMENT SECURITIES. Any one having a negotiable security is naturally anxious to know its market value; especially so if looking for a purchaser. If the security happens to be listed at a stockexchange, it is an easy matter to get a quotation on it, and a buyer can generally be found at some price. Or, if looking for a not very common security, any one may possibly be aided in his search by reference to the same quarter. Few, however, outside of professional bond and share dealers, are familiar with the transactions of the exchanges, and it is probable that a preponderance of the securities dealt in at their boards are in the hands of people ignorant of the positions they occupy. To such parties, as well as to those who may be in quest of particular bonds or shares, without knowing exactly where to look for them, and what their acquisition will cost, the following transcripts from the books of our principal exchanges, and showing the range of their operations, will be of interest, and sometimes of advantage. It will be seen that, beyond giving, to some extent, a preference to obligations that happen to be strictly local or most generally held in the neighborhood, no positive rule of selection has been observed in making up the lists. The good and the bad are mingled in a way that is quite indiscriminate, and which to the casual observer must be somewhat bewildering. To any one, however, who has read the accompanying chapters there will be no particular mystery about it. Indeed, it is partly to illustrate the points therein made that the following record is given. As prices bid or paid are constantly fluctuating, there is no use in giving present or recent figures; but any one interested in any of the securities on the lists can easily inform himself by ...