Word: ticker
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...Personal Ticker...
PHELAN. Tired of driving to a broker's office in downtown Los Angeles at 6 a.m. to get the earliest readings off the stock market ticker, Hughes in the late '20s wanted a private ticker of his own in his Ambassador Hotel suite. As Phelan tells it, Dietrich ingeniously got around regulations against such a personal installation. He rented a downtown office, had a ticker legally put in there. Then he discovered that a trolley line to the Ambassador had some unused insulators on the poles and that he could get a private line strung on them...
...when the ticker was disconnected by "a friend who knew a lot about electricity" and carried to the Ambassador, a red light flashed at Western Union offices. Dietrich's friend had incorrectly hooked up a resistor that should have prevented this. The Western Union men rushed to the rental office and found Dietrich holding only the glass top of the ticker. They asked where the rest of the machine was. He ad-libbed, said it had been knocked over and was being repaired. They offered to repair the machine themselves, and Dietrich had to retrieve it from the Hughes...
...three partners hope to franchise ticker-equipped restaurants patterned after the Exchange. When the trio first asked the New York Stock Exchange to let them have a barroom ticker installed, they were turned down because they wanted instantaneous quotes, and the Big Board restricts that service to brokers or people whose principal business is investment. Eventually the partners agreed that stock prices would appear 15 minutes behind brokerage-house tickers, as they do on television. The time lag has not stopped some customers from trading at the bar over the free telephones provided by the house...
While Bronwen tries to launch its ticker-restaurant franchise, Trans-Lux Corp., a manufacturer of ticker display units, has been signing up nonbrokerage-house locations all over North America. Quote boards were recently installed in the cocktail lounge of the Four Seasons hotel in Toronto and in the lobby of a new office building in Washington's Watergate complex, a development where many Administration officials live. The board was put in by the Watergate management to attract brokerage-house tenants, but they are few. On one recent day, the only tape watchers were two caged red parrots that...