Business Studies Resource
Business and Finance Historical Facts, these resources are for Factual study of the Banking structure of the United Kingdom and London.
The Governor and Company of Adventurers of England Trading into Hudson’s Bay, now known as the Hudson’s Bay Company. When the noise of the stock market became too much for the staider City merchants, the jobbers and brokers moved across Cornhill to an open courtyard in Change Alley, from which, like the members of other City markets, they were driven in bad weather to near by coffee houses, of which one, Jonathan’s, became the centre.
After various attempts to find a place of its own, the vigorously expanding organization secured its first premises, and first used the name ‘The Stock Exchange’ in 1773.
A tremendous increase in business during the Napoleonic Wars strained the accommodation. A fresh move at the start of the nineteenth century, to Capel Court, laid the foundations of the present Stock Exchange which now occupies a large part of a triangular site having the Bank of England close at hand on one side and bounded on another by Throgmorton Street, the narrow thoroughfare which bustles with activity during working hours but which is as deserted as a village street in the evening.
Looked at from the outside, the present day ‘House’ is an austere almost dowdy building which the uninitiated might find t difficult to believe is one of the greatest and most active of the world’s security markets. Looked at from the Visitor’s Gallery open each business day from 10.30 a.m. to 3 p.m. The big traggling floor broken up by massive marble pillars, pulpit and seats may seem oddly confusing and disorganized, gradually, however, as the visitor picks out the salient features, is seen that among the mass of men crowding the ‘floor’ some re on the move while others stay congregated round the pillars, seats, and walls.
This is the visible indication of the unique ay in which the London Stock Exchange conducts its business id into which its membership is divided. The men who stay put the jobbers. Those on the move are brokers. Other Study methods that cover area’s such as the aforementioned can be learnt from subscribing to an MSc Finance related Business course, these offer a more indepth resource for Students to study the subject matter. Other Good resources can also be found on Economy News articles as well as Google Finance online. We highly recommend students review the above two areas to gain a wider understanding of today’s Business Economy.
Good Educational Courses to ponder on are:
The Jobbers are dealers in particular groups of securities. Somewhat akin to wholesalers in any other market, they are principals who are ready to buy or sell the stocks and shares in which they deal, or ‘make books’. Their profit or loss represents the difference between buying and selling prices, and depends to a considerable extent on their ability to judge market trends and demands. They quote two prices, the lower being the one at which they are ready to buy and the higher the one at which they are prepared to sell reasonable market quantities of their wares. Prices are adjusted to meet supply and demand. In active securities they can vary minute by minute.
Jobbers tend to congregate in markets at particular spots on the floor. This simplifies business: brokers know exactly where to go when dealing in particular securities. The markets range from Gilt edged (Government and similar stocks), Banks, and Insurance to Oil, Kaffirs (South African gold mines), and Rubber; and take in Breweries and Distilleries, Steel, Property, Tea, Water Works, a vast Commercial and Industrial sector, Rhodesian Copper and other Mines, Diamonds, Financial Trusts, Investment Trusts, and other groupings.
Brokers are agents who are paid for their services at definite minimum rates of commission. They buy and sell securities on behalf of the investing public, dealing mainly with their opposite numbers, the jobbers. They also look after all the paper work concerned in the transfer of securities from seller to buyer, give advice on existing or new investments, manage; portfolios, and play an important pan in the raising of new capital and the public flotation of companies.
What part do the 3,400 odd members of the London Stock Exchange, together with the authorized and unauthorized clerk allowed into the House, and their office staffs, play in the financial and economic well being of Britain? An important feature of any financial machine, as investors and borrowers have known for many generations, and as we have already noted, is a securitio market where buyers and sellers can quickly come together. A indication of what this means is provided by a few facts.
Between 1 April 1946 and 30 March 1962 the nominal value of the securities officially quoted in London increased from £23,021 million to £33,621 million. The market value however rose from £26,141 million to £50,224 million, or to an average approaching £1,000 per head of the population of the United Kingdom.