Abstract

Everybody's Business
Hutchison, Keith | November 9, 1940 issue

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On September 1 a ruling by the Committee on Member Firms of the New York Stock Exchange became effective, which is subject to temporary exemptions to those members requiring time to adjust their existing methods. The object of this ruling is to put an end to the practice known as multiple trading. The author fancies that the vast majority of citizens, if they noticed the announcement of this ruling in the financial pages of newspapers, dismissed it as a purely technical matter, of interest only to financial professionals. Actually it has a far wider significance, for it is a step by the New York Stock Exchange to protect its near-monopoly of the security business of the U.S.

See Also:

RULE of law; NEW York Stock Exchange; MONOPOLIES; PROFESSIONAL employees; FINANCIAL services industry; UNITED States
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