The Foreign Trade of the United States; Its Character, Organization And Methods
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To quickly assess the difficulty of the text, read a short excerpt:
Of course any one of the interests named may exercise the functions of another. Thus, a merchant may act as a broker or he may be a heavy specu- lator. A speculator in turn may be interested in the ownership of mills as a spiimer.
The proper and professed functions of a cotton exchange may be briefly enimierated as follows: 1. The maintenance of suitable facilities for the con- duct of business by its members.
2. The adoption of rules and regulations for the conduct of such business.
3. The col...lection and dissemination of useful informa- tion.
4. The maintenance of Just and equitable principles in the trade.
The system of future trading in cotton and, for that matter, in other staple products similarly dealt in, is based on contracts on the part of the seller to deliver, and, con- sequently, on the part of the buyer to receive, at a time subsequent to the making of the contract, a certain quan- tity of the product at a stipulated price. So far as the operation of the contract is concerned, it is immaterial whether or not the seller, at the time the contract is en- tered into, has the product in his possession, and, in fact, the term "futures" is very generally associated with transactions made at a time when the seller does not actu- ally have the product on hand.
What to read after The Foreign Trade of the United States; Its Character, Organization And Methods?
You can find similar books in the "Read Also" column, or choose other free books by Lillian Cummings Ford to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
Of course any one of the interests named may exercise the functions of another. Thus, a merchant may act as a broker or he may be a heavy specu- lator. A speculator in turn may be interested in the ownership of mills as a spiimer.
The proper and professed functions of a cotton exchange may be briefly enimierated as follows: 1. The maintenance of suitable facilities for the con- duct of business by its members.
2. The adoption of rules and regulations for the conduct of such business.
3. The col...lection and dissemination of useful informa- tion.
4. The maintenance of Just and equitable principles in the trade.
The system of future trading in cotton and, for that matter, in other staple products similarly dealt in, is based on contracts on the part of the seller to deliver, and, con- sequently, on the part of the buyer to receive, at a time subsequent to the making of the contract, a certain quan- tity of the product at a stipulated price. So far as the operation of the contract is concerned, it is immaterial whether or not the seller, at the time the contract is en- tered into, has the product in his possession, and, in fact, the term "futures" is very generally associated with transactions made at a time when the seller does not actu- ally have the product on hand.
What to read after The Foreign Trade of the United States; Its Character, Organization And Methods?
You can find similar books in the "Read Also" column, or choose other free books by Lillian Cummings Ford to read onlineMoreLess
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