Chapter V: Part II (5)

Work of Wall Street. By Sereno S. Pratt,
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INDEX

Page
Accidents: effect of on stock prices, 84
Averages: Barometer of, 110

Bank Statement, 59, 125
British investment bonds: Prices of, 45
Business Depression: Effects of on rails and industrials, 105

“Calls,” explained, 89
Charts: “Composite Common”, 137
corn prices, 149
cotton prices, 154
wheat prices, 147
“Composite common”: range of, 133
Corn: Area limited, 151
chart, 149
prices, 146
risen more than wheat, 148
Cotton: Chart, 154
crops in bales, 157
cycles of speculation in, 155
prices, 156
Credits: Expansion of ignored, 75
Crises: Indications of, 112
principal in last century, 24
Crops and Crop Failures:
damage issue not to be ignored, 123
importance of, 82

Dividends: adverse effect on the short seller, 101
Dow, Charles H.:
rule as to margins necessary, 165
Fixed Charges: As factor of safety, 114
important to investor, 116
percentage of in various railroads, 115

Gambling transactions: Percentage against the speculator, 9
Gold production:
effect in speculative commodities, 53
effect on common stocks of railroads, 49
effect on securities having a fixed rate of income, 43
effect on stocks of industrials, 52
influence of on prices, 39
Grain: Cycles of speculation in, 145

Legislation: As a market factor, 77

Manipulation: By creation of false appearances, 22
Margins: Necessary to reasonable safety, 163
required by scale order operations, 164
use and abuse of, 12
Market Movements: principal for ten years, 168
Money conditions: as a factor of speculation, 59

Periodicity: unreliable as basis of speculation, 35, 69
Pig Iron: Production in U. S., 29
Prices:
“Composite” stock, 136
corn, 146
cotton, 156
ordinary swing of in speculative cycle, 113
wheat, 146
Presidential contest: Influence on prices, 81
Privileges, 89
“Puts,” explained, 90

Railroad: Basic values of, 104
Rights: How to compute value of, 109

Securities: Entire list should be studied, 166
railroad stocks the soundest, 166
selection of, 124
undigested, 108
Speculation: Cycles of, 21
possibilities of, 14
preliminary hard work needed, 17
Stocks: Borrowing and lending, 117
cycles of Speculation in, 133
“Straddles,” explained, 92

Tariff agitation: effect on speculation, 81
“Tips”: Operations based on them disastrous, 172
Trading: Best method of, 111, 172
hypothetical, 15
scalping, 120

Wheat: Chart, 147
prices, 146