Technical Terms Explained
The members of the Stock Exchange are of two descriptions, jobbers and brokers. The jobber deals in stocks and shares, either as a buyer or seller, at the market prices. The contango rates depend very much upon the state of the money market, and hence the fluctuation in the price of public securities in sympathy with the rise and fall in the value of money. The Stock Exchange settling days are in the middle and at the end of each month. Each fortnightly settlement occupies three days; the first is the carrying-over or contango day, the second is the nameor ticket-day, and the third is the day for paying the differences, or the amount of money for stock or shares to be taken off the market. The word “shrinkage” for depreciation is a neat term with which the small catalogue may be euphoniously terminated.