Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-07-09
STOCK T|CKERs
IN THE UNITED States
Sixty.Four Per Cent of Rib
bon-Tape Tickers Are in
New York City.
nicuMoND mas rs srock r,ckEus,
Fnrthest West Ticker 4. IN Omh ha
N"hriy Half of the Tickers In New
York Are Located Below Chambers

n.
Nrhriy Half of the Tickers In New
York Are Located Below Chnmbers
street.
The Wall Street journal SAYS APP
proximately 100 riobon-tape tickers
are in use I'm TIE United States to-
day. The total includes stock. bond.
grain, cotton. coffee. produce. marine
news. curb. consolidated. foreign ec-
change ana sporting ilckers. About
10 pc: cent Of the tickers are de-
voted :" sioch and bond quotations.
Now YORK City has 1892 tichers' or
80 per cent or the total Nearly half
of Ne" Tork's ;ickers are below
Chambers street.
The 1900 STOCK and ja0 bond tick
ers below Chambers Street are on
Grated by the New YORK omo,a,ion
COMPANY controlled by the New
York Stock Exchange. These send
oihcial quotations reported directly
from the floor.
The Western Union Telegraph
Company ami the STOCK Quotation
Company control the other 2,S32 rib
ton-tape tickers in the city
The official stock and bond ,ickers
are subscribed TO by Stock Exchange
members only. although tn. Western
Union Telegraph Company and the
United Telegram Company. Of hos.
ton. use The official ticker to relay
quotations TO their own Instruments
Outside OF the official ,icEers.
there are In New York $50 stock. 23p
hond. $50 grain. $50 cotton, Sc coffee.
~ produce, marine. 400 curb. 400
consolidated. $50 foreign exchange
ana 200 sporting ticker<
Outside OF New York.
There are approximately Ass
,icHcrs in the United States outside
OF Ne" York. Chicago. Philadelph,a.
Detroit, Boston. Baltimore and Pi,t.
0ufEh have ticker service, for their
own exchanges San Francisco has
u" ticker OF any kind. The farthest
West service il in Omaha. with
'wenty-one t!ckers
At least ons brokerage hrm in New
York has in It's Offices TWENTY-FIVE
rlbhon-tapc tickers which compares
with twenty-five stock uckers in the
whole OF Washington and fifteen in
Cincinnati. TWO New York firms
nave more tickers than most cities
in the United States.
Chicago Is second 10 New York.
WIN 500 tickers, including stock.
grain. sporting, cotton and both loca.
and New York services There ar.
approximately t0s ,ickers in Boston
\ and as in Philadelphia. There are
Few ticSers In most OF the leading
cities OF the New England States
| though Vermont has none
The Middle West is easily the hest
ticker field outside OF New York.
while the South !s the poorest Kan
sas city has 40 stock ticker. ST
Louis 40 tickers and one cotton.
! Pittsburgh has - and Detroit CO.
In the South. Richmond has Is
stock tickers: Louisville. 20 stock and
grain. and New Orleans with nearly
100000 population and a big cotton
element, including the second largest
cotton exchange in the country, has
out % tickcrs. all OF which are cot
Ion and coffee. Many OF the other
leading Southern cities do not on
crate single ticker. Baltimore.
however. has 90 tickers Wilmington
has 10.
Branch Offices Of New York Stock
txchanGe firms are probably the
chief competitors Of ticker service.
outside or New York These office.
with leased wires keep stock. cotton
and grain boards in their rooms and
the wires when NOT actually taking
orders send constant stream Of
quotations from the official ticker in
the main Office in New York making
u unnecessary for some branches TO
install tickcrs
&c western Union Telegraph Co.
controls most OF the tickers outside
of New York. There are few In
dependent services on some OF the
small exchanges. Connecticut has
one independent ribbon-tape stock
ticker concern known as the New
YORK and Connecticut New. Bureau
which operates twenty fickers
Evolution Of the Ticker.
Mechanical development OF the
ticker has been unable to keen mace
with the growth OF financial ac-
tivities in the country. Hence il has
heen necessary from time to time
10 cut down ticker authorizations.
The New York Stock Exchange now
has new apparatus for the auto
matic control OF the ticker system
which has been satisfactorily tested
After few minor defects are elimi-
mated this machine IS expected to
increase the speed OF the 1000 tick
ers of the New York Quotation CO.,
from 10, per cent TO Is per cent.
The apparatus which Is now in
use on the bond tickers will soon be
in use on all stock tickers Under
the new system the report OF sale
on the floor goes directly from ths
reporter 10 the keyboard thus elmi-
mating two steps used in the past,
and reducing the possibility OF err
rors. There will ne but one key
board in the new system instead OF
four
1t was in 1867 that The New York
stock Exchange actually adopted the
ticker. Some OF the old Edison tick
ers in use soon after that time are
IN service today having been brought
up TO date. although the original
structure is unchanged.
Quotations were not always 40
easily obtaina BILE. In The late fft;es
when Daniel Drew and Jacob Little
heid the center Of financial interest
IN wall Street as much as 800 n day
was paid for the privilege of listen
ing al the key-hole OF the board
room during the time OF the calls.
Much secrecy was maintained and
only rev actually knew quotations.
Later some up to date brokers
sent some OF their best client Quota
tons on states afref ,ae calls. these
being carried by their clerks to the
customers. The real ancestor OF the
present ticker was the gold dial In
use during the gold speculation days
IT was dial which was swung
around with hand noInsinr % 81