Legislation Against Speculation and Gambling in the Forms of Trade, Including Futures Options and Short Sales (Classic Reprint) - Brossura

Dewey, T. Henry

Brossura

ISBN 10: 1332429149 ISBN 13: 9781332429141

Casa editrice: Forgotten Books, 2018

Riassunto

Excerpt from Legislation Against Speculation and Gambling in the Forms of Trade, Including Futures Options and Short Sales

The implements or gambling ON Pawns - The usual implements of gambling on prices are a black - board, upon which are posted from time to time the market prices of stocks, cotton and other produce, slips of papers pur porting to be orders to the keeper of the place to buy or sell for the account of the other party and other slips of paper purporting to be notices of purchases or sales made by the keeper of the place for the account of the other party. Each transaction is settled by the payment of the difference between the price of a pretended pur chase and the price of a pretended sale, it being agreed or understood that no delivery of the things pretended to have been bought and sold is ever to be made. A deposit is required by the keeper of the place which is called a margin, but is really security to him for the pay ment of the wager. If the market goes in his favor, he closes the transaction as soon as the fluctuation in price equals the amount of the deposit, which he then keeps; or it may be closed by the other party at any time before the loss to him equals the amount of the deposit. If the market goes in favor of the other party, the transaction is closed whenever he gives an order for that purpose, and then the keeper of the place pays to him the differ ence between the market prices of the pretended pur chase and sale and returns the deposit. A place in which such pretended dealing is carried on is called a bucket shop.

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Dettagli dell?edizione

• Editore: Forgotten Books
• Data di pubblicazione: 2018
• ISBN 10: 1332429149
• ISBN 13: 9781332429141
• Rilegatura: Copertina flessibile
• Lingua: Inglese
• Numero di pagine: 74
• Contatto del produttore: non disponibile