The Work of Wall Street
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In our eReader you can find the full English version of the book. Read The Work of Wall Street Online - link to read the book on full screen. Our eReader also allows you to upload and read Pdf, Txt, ePub and fb2 books. In the Mini eReder on the page below you can quickly view all pages of the book - Read Book The Work of Wall Street
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193 12-20-'99-500 1073 The Thirtieth National Bank OF THE CITY OF NEW YORK.
New Yokk, Mar. 10, 1902.
Mr. Richard Roe.
Dear Sir: Please send us about $10, 000 additional Collateral to our loan of % 100, 000 dated Mar. 4, 1902, and oblige Ycurs respectfully, Wilfred Hone, Cashier.
Call for additional collateral maro:in. 194 THE MONEY MARKET 195 thej charge a much higher rate of interest. "When indus- trial stocks are accepted it is generally required that there must be railroad or other approved ...securities with them. In the loan to Richard Roe, as originally made, the indus- trial stocks amounted in value to less than one-half of the collateral, and in this calculation the three hundred shares of the Western Union are counted as industrial, simply be- cause the Western Union is not a railroad company. It is needless to say that Government bonds always rank as the very highest class of collateral, and the banks require no mar- gin on such security. If the market value of the securities deposited for a loan decHnes, the banks are obliged to call for more collateral in order to keep the 20 per cent margin good.
What to read after The Work of Wall Street?
You can find similar books in the "Read Also" column, or choose other free books by Sereno Stansbury Pratt to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
193 12-20-'99-500 1073 The Thirtieth National Bank OF THE CITY OF NEW YORK.
New Yokk, Mar. 10, 1902.
Mr. Richard Roe.
Dear Sir: Please send us about $10, 000 additional Collateral to our loan of % 100, 000 dated Mar. 4, 1902, and oblige Ycurs respectfully, Wilfred Hone, Cashier.
Call for additional collateral maro:in. 194 THE MONEY MARKET 195 thej charge a much higher rate of interest. "When indus- trial stocks are accepted it is generally required that there must be railroad or other approved ...securities with them. In the loan to Richard Roe, as originally made, the indus- trial stocks amounted in value to less than one-half of the collateral, and in this calculation the three hundred shares of the Western Union are counted as industrial, simply be- cause the Western Union is not a railroad company. It is needless to say that Government bonds always rank as the very highest class of collateral, and the banks require no mar- gin on such security. If the market value of the securities deposited for a loan decHnes, the banks are obliged to call for more collateral in order to keep the 20 per cent margin good.
What to read after The Work of Wall Street?
You can find similar books in the "Read Also" column, or choose other free books by Sereno Stansbury Pratt to read onlineMoreLess
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