Word: ticker
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...cost of over $1,000,000 the New York Stock Exchange installed a high-speed ticker service of N. Y. Quotation Co. The new tickers printed 500 characters a minute instead of the 300 characters of earlier machines. To the despair and confusion of brokers and speculators, however, tickers still run far behind the market whenever trading waxes fast & furious. Last week, for example, the ticker was several minutes late on four days. One mad day fortnight ago it fell 22 minutes behind, leaving traders groping in a mist of uncertainty. Last week the Stock Exchange fathered a new scheme...
Beginning November 1, whenever the ticker gets five minutes behind, latest floor prices of 16 major stocks will be given precedence on the ticker, one at a time, every 30 seconds, each preceded by the word FLASH. These up-to-date figures sprinkled through the bulk of late statistics are supposed to give traders an inkling of the market's trend. The 16 FLASH issues: Atchison, Topeka & Santa Fe; American Telephone & Telegraph; Anaconda Copper; Chrysler; Sears, Roebuck; Great Northern (preferred); Consolidated Edison; Republic Steel; General Motors; Standard Oil of N. J.; General Electric; N. Y. Central; Electric Power & Light...
...Ticker Tape...
...runner intersects each light the time is recorded on the moving "ticker tape" evolving from the central controlling machine located on a nearby table...
...market letter" went out that night predicting a thumping bull market in Manhattan next morning. Instead, to the confusion of prophets, railroad stocks and most others fell like a load of corncobs dumped from a hopper car. In heavy trading for a half-day (1,570,000 shares), the ticker lagged four minutes behind and order clerks went hoarse as prices dropped as much as ten points. U. S. Steel thudded to a new low of $52.50, New York Central to a low that day of $18.38. Bonds were under heavy fire from selling and grew cheaper & cheaper...