Prominent Stock Exchanges

Among the better-known and more prominent stock exchanges are: the New York Stock Exchange (NYSE), the American Stock Exchange (ASE), the Midwest, and the Pacific Stock Exchange.

It must be strongly emphasized that no exchange sets or regulates prices. The prices are those that are agreed upon by buyer and seller in order to consummate a transaction. Brokers are in continuous touch with one or more of the exchanges, either by telephone, telegraph, or ticker tape; this last prints the symbol which identifies the company, the number of shares bought or sold, and the recorded price expressed in dollars and eighths. For example, GM 2.4514 means that 200 shares of General Motors were sold at $45.25, the figure 2 representing 200 shares, since two standard 100-share lots are involved.

While there are a number of stock exchanges in operation, there is no doubt that the NYSE is the dominant one. About 1500 common stocks are listed and traded there, including such giants as American Tel. & Tel., General Electric, General Motors, Ford Motors, Standard Oil of New Jersey, Woolworth, du Pont, Sears-Roebuck, U. S. Steel, etc.