Delaware journal., 1828-10-21
rOKETGN.
From, the New York journal Of Commerce.
LONDON STOCK EXCHANGE.

This establishment receives its name from Its be- |
ing the principal theatre OF negotiations IN h'ohea
stocks The building is situated IN small court !
and the great very much resembles that OF our
Merchants Exchange. This being found some
wears ago too much crowded, the ne9otiat0rs IN for
zion stocks were assigned to an adjoining room.
which has since been called the Foreign Stock Ex-
change The business is generally of greater mag
nitule and greater interest than the business al
ILoyds None are admitted but such as nave been
recommended and upon examination have gwen sat
isfacory evidence of integrity and the po>sesslon
of property. The business is must Of 1t transacted
THROUGH the medium Of brokers, who. while they
hide the principals. aid their negotiations by SUPERB
oracnuaintance and skill. When OF them re-
ceyes an order either to buy or sell, the customary
method is to proclaim some part or the whole oi
his intention, and he is directly surrounded by il
lnrpe number of other brokers. who, either for them
selves or 10 the execution OF orders, listen to ms
propo.als or make their own. The bargains are
ninuted on the books of the contracting brokers,
,yhn are the witnesses in the case, though generally
held responsible for the due performance on the
mart of their principals. The consos or consollda-
ted stocks 50 termed from several kinds o Gov
ernment obligations having been consolidated ln'r
one are from their great amount, The OBJECT OF pr'
mary interest. When we add to these the other
British stocks constituting sum. the annual Inter
oct of which is equal to six times the whole revenue
,oans to most of the Governments OF Europe ant
America and still to these, the stocks OF the H. In
dia Company, the Bank of England, and Of all TIN
other corporations Of the Kingdom, we have al
amount the transactions in which, in their very cen
ire and focus must create an immense excitement
But the principal cause OF excitement remain
IN he stated For in addition to the transactions
real sale and delivery, there is great number {
,.iobs' where no delivery is intended, and whlc
nartake very largely of speculation it not OF CANT
Inns. These bargains made IN form as we hay
described above, except that larger proportion
them are for account - other words, the d
livery it is agreed, shall take place upon the da
of account'' or d" settlement" which occurs once
six weeks. and upon which all negotiations must
carried into effect. but in fact 1t is only intende
that ON that day the losing party shall pay the d
fsrence. For instance, A. sells to b. 10000
Consols at 81 per cent. Z" for account" 1t on t
Jsv of account the price is &c, then b. will pay
4 1901 and each t-S of one per cent. to his b.
kpr and the memorandum is cancelled, or ratl
the two brokers will adjust the matter, the prin
nails not being made known to each other, and m
ha a father and his SON. 1t is to be sure one rule
the game that the seller may deliver the stock a
demand payment in money if he chooses, but
right though existing is only to be used IN extre
cases 1t is easy to see that these negotiations "
he entered into where there is no stock in the P
session of either party, and that such state
th;ngs is calculated to draw out great number
adventures, mt only among the bankers and ot
nersons whose occupation it is to deal in this W
hut gentleman of fortune and leisure, and inde
any body who can procure broker to guarantee
contracts. And so it turns out, TOR large mum
of persons are always so deeply interested as
produce extreme sensitiyeness throughout the