Lady and the Stock Exchange, The (1962)

York in New York. New York. Welcome to the New York Stock Exchange. The exchange has expanded its staff of fair ladies, multilingual guides for the millions from around the world who are visiting the city for the World's Fair. One of New York's most popular tourist attractions, the exchange conducts tours for hundreds of thousands each year. Since 1792, the exchange has served guides give a full explanation of how stocks are bought and sold. There are fascinating exhibits for visitors to operate, movies, and the big board provides and mails picture postcards of the trading floor for its guests. The financial district at the tip of Manhattan is easily reached by all New York City transit lines. In Swedish, that's an invitation. [music] [music] [music] [music] Uh oh, there's Jess. You're late again. Pop. Think we could buy an abacus? Abacus, do we need one? It's for my project. I thought I'd sort of work it into my Cybernetic computer just for contrast. Mr. Barnes said it'd be a good idea. Gee, I got to go. Bye, Mom. Bye, dear. Bye, dear. Uh uh. Bye, Andy. Abacus. Hey, darling. I spoke to Mr. Barnes. He wants to put Andy in an advanced class. Bertram, we simply must think about Andy's college and we must make plans now. Now? He just started the eighth grade. Hello. Oh, yes. Of course, I'll be there. No, I can't talk now. Now, about Andy. Yeah, yeah, yeah, sure, sure, sure. Okay, you better run. Who's that on the phone? Oh, nobody. Just Betty. Betty. See you later. Yes. [music] All right. Jess, good morning. Bit of you to come. [music] [music] Well, I don't know, Jess. That That's an awful lot of money. Relax. Your uncle Jess wouldn't steer you wrong. [music] [music] [music] Uh, may I speak to Mr. Huntley, please? Uh, who's calling? Mrs. Burton Jones. Hello. Oh, all right. I'll be right there. You'll be right down. Thank you. This is Jones. Oh, yes. I'm Bill Huntley. Hello, Mr. Huntley. How's Betty? Oh, she's fine. I talked to her today. She sends her regards. Good. You know, I spoke to her investment club last week. Yes, I understand you did. Yes, I think it was an interesting evening. The ladies enjoyed it. Uh, won't you sit down? Well, uh, is this your first visit to a broker's office? Yes, it is. You know, I, uh, I've been thinking about investing for some time now. You see, Andy, um, that's our son, is 13. Well, that means he's only 5 years away from college. And he, you know, he's such a bright boy. I do hope I don't sound too much like a proud mother. Oh, not at all. Well, anyway, about three or four months ago, my husband and I were left $4,500 and um well, I thought we should invest it so we can help put Andrew through college when he's ready. Well, that's a good reason. Uh tell me, Mrs. Jones, this is extra money, isn't it? Oh, yes. That's good because you should have something to fall back on in case of an emergency. Yes. Well, this is separate from our regular savings account. You live near Betty, don't you, Mrs. Jones? Yes. 1137 Clover Avenue. 1137 Clover. And uh what does Mr. Jones do? Uh he's a buyer for Simmons and Fletcher. How about your bank? The municipal bank. Savings and checking. Yes. Now uh approximately what is your husband's income? You understand that this is one of the things that helps us to plan a sound program. Well, Bertram earns about $9,000 a year without his bonus. Member firms of the stock exchange are expected to know their customers. This helps us and it helps you because we get a pretty good idea of how much you and your husband can afford to risk. Risk? It's as safe as a baby in the cradle. Boy, I sure hope so. I'd hate to go behind Maj's back like this. Then it would be good to surprise her, though. Then there's Andy's college. Sugar. He uh nothing's going. You know, he's a he's a wizard science. They're going to put him in a special class. Napkin. He uh brother. Oh, I got to go. Get him back to work. Relax. Will you believe me? You made the right move. You really think so? Sure. Oh, we got the inside track. Listen, my my boss's brother knows the inside. You understand? Let me tell you something. This is going to pay off and it's going to grow, too. Good. Oh, boy. This thing has everything. Now, the fact is The fact is you simply can't get everything in one investment. Look at it this way. When you buy stock, you become part owner of a company. And how well or how poorly that company does determines exactly how you'll do. Mhm. Well, what do you think is best for us? Well, why don't we look into some stocks that we think can grow along with Andy? I think we ought to aim for the future. Hello. This is our research department. Hello, Bill Huntley. Uh, will you send me a copy of our growth and investment study? Yes. And I want some copies of those annual reports that I sent down the other day. And would you have those all sent up to the reception desk, please? Thank you. Now, Mrs. Jones, I'm going to give you some material to take home with you. You read through it, compare the companies, and talk it all over with your husband. Oh, hello. Yeah. Oh, yes. Put him on, please. Hello. Hello. Uh, Dr. Johnson. Yes, this is Bill Hut. That fellow that called you, was he in a big hurry? And did he promise you a profit? And was he pushing one stock? I thought so. No, we've already checked into it. The stock is a phony and so is he. Unethical. It's illegal. something for the Securities and Exchange Commission. Yeah. Right. You do that, doctor. Yes. Yes. And I'd like to see you when you come in. Right. Bye-bye. Well, I'm uh I'm sorry to have kept you waiting. Oh, not at all. You know, uh many people use this monthly investment plan to make an initial investment and then keep buying stock on a small regular basis. How small? Well, there are plans available for member firms of the stock exchange, like ourselves, for as little as $40 every 3 months. That's about uh $3 a week. Well, I think we should be able to manage that. And uh some people like to use MIP to buy stock in the companies they work for. You might mention that to Mr. Jones. I don't know. Bertram's ideas about money are sort of um well, wild, I guess, is the best word for it. I'm always afraid someone's going to come along with a get-richquick scheme and well, I don't know, Mr. H. I think that's why I came to see you today. Oh, excuse us, Al. He's uh he's one of our registered representatives. He was trying to see the ticket tape. It uh records the transactions on the exchange. Oh, I see. And then all of this information is uh reported clear across the country. Yes, that's right. Well, I certainly wish Andy could see all this. Oh, lots of youngsters are interested, you know. And uh lots of youngsters are share owners, too. Oh, I thought you had to be 21. No, there are new laws that make it easy to give stock to children. Bill, excuse me. We're confirming those 4,000 shares at 51 and 8. Oh, good. Thanks, Hal. Wow, that's a lot of money. Yes, it's over $200,000. A matter of fact, this is what we call an institutional order. You see employee pension funds, insurance companies, banks, many schools and religious organizations buy and sell large blocks of stock. Oh, may I have that envelope you have for me? Thank you. Well, Mr. Jones, I uh I hope you'll think about what I've told you and uh take your time. You know, we take our time in screening, training, and testing our representatives before they're registered. So, there's no reason why you shouldn't take your time. And uh do talk it over with your husband. You know, there's no rush about making an investment. The exchange has been around since 1792. [music] Okay, professor. I want you in bed early. He's not here. Yes, ma'am. There we are. Huh? No. You know, um I went into town today, honey. Mhm. I went to um visit that broker that Betty told me about, Bill Hutley. Uhhuh. He uh he spent a great deal of time with me telling me about all the ways we can invest the money. Bertrren When I got home, the house was on fire. The flames were way up over the roof, and the firemen were here all afternoon. We played pingpong. Don't you think we ought invest, honey? No. Oh. Uh well uh I I I just don't think this is the time to invest. Well then when Bertrram I mean that money was left to us to to to put to good use. Oh please Bertram. Honey. But we've got to start doing something about our future. Let me handle the future now. Hey. What? What about all the things we need now? That coat you wanted. The car. And how about the trip we were going to take? Just you and I. H. Caribbean moonlight. Oh, don't be ridiculous. What's so ridiculous about wanting to get away with your wife? [music] The genius. [music] Andy, do you know that your father is a financial delinquent? Okay, pal. Off to bed quick. Good night, Dad. Good night, Eggghhead. [music] [music] Woo! [music] [music] [music] Wow! Hello. May I speak to Mr. Huntley, please? Thank you. Hello, Mr. Hutley. This is Marge Jones. Fine, thank you. Well, I um I've gone over all of the material you gave me. Yes. Yes, I did talk to him. Well, Mr. Huntley, I think I'm going to go ahead. Well, that's fine. Uh, tell me, what stocks did you and Mr. Jones Well, yes, of course. As long as you're coming downtown. Uh, let's make it for uh, Wait a minute now. I uh Oh, yes. I have to be over at the exchange for a meeting at about 1:30. I tell you what, why don't you come on down and we'll go over there together. I think you'd enjoy it. You mean go to the the stock exchange? Oh, yes. Yes. I think I'd like that very much. Well, thank you. Goodbye. Bertam Jones, please. Bertam. Hi. say um honey, how would you like to take your wife to dinner tonight? H hello. Yes. Yes. This is Bill Hartley. That's right. Fine. 100 shares each of P R E and ODM. Right. Thank you. Well, they confirmed your order. Is that all? It's as simple as all that. And I think you made a wise choice. Very soon now you'll be a stockholder in two companies. Well, now um what about the money? Well, we'll be sending you a confirmation in the mail after that anytime within four business days of the purchase date will do fine. Well, I think we better be getting on over to the exchange. Are you sure I won't be imposing? Oh, not at all. [music] It's tremendous. What do all these people do? Why, they buy and sell securities. As a matter of fact, one of them just bought your shares for you. But I just don't understand how they do it. Well, when I received your order, I had it phoned to our firm's order room. They sent it by direct line to our firm's booth down there on the rim of the floor. Then the uh telephone clerk signaled his floor broker by pushing a button, causing the broker's number to flap on that large board over there. And then the broker went over and picked up your order. And that's it. Well, that's half of it. You wanted to buy, but obviously someone had to be willing to sell. Where are you going to find a seller in this crowd? Well, you see those structures shaped like horseshoes along there? Those are the trading posts. There are 19 of them. About uh 75 stocks are assigned to each post. And under the exchange rules, that's the only place on the floor that those stocks may be traded. So, your broker goes directly to the post where your stock is located. And uh so do other brokers who want to buy and sell that same stock. Well, then what does he do? Does he announce he's ready to buy? Well, no. You see, your order was a market order, which means that the broker had to get the best possible price at the time the order reached the floor. So, he first gauges the market according to the previous transaction and the current bids and offers. And then he determines what price he'll bid for your stock. This is where his skill as a broker comes in because there are other buyers and sellers all trying to get the best possible price for their clients. If at any given time people want to buy more shares in a particular company than are offered for sale, the stock will usually go up. If there are more shares offered for sale, the stock will go down. So your broker and a seller's broker will bargain. For example, the seller's broker might offer a 100 shares at 32. Your broker might bid 31 and a half, and the trade might eventually be made at 31 and 3/4. The point is that prices are arrived at openly and fairly, and the exchange insists that trading be done in a loud, clear voice. That's how your stock was bought. And that it's all reported back to me. That's right. Oh, and you might have noticed that there was no handshake and no contract signed when the brokers reached an agreement. Their word is enough. Then, of course, the transaction is reported to the ticker room and in a couple of minutes or so, it appears on tickers in thousands of brokerage offices all over the country. Well, it makes me feel kind of important. You are important and the company you own shares in thinks so, too. You know, you'll be receiving annual reports and proxies so that you can vote on important company matters. The uh the exchange insists that you get the right to vote and of course the information you need in order to vote. Oh, I'm so sorry. I've taken too much of your time. That's quite all right. It was my pleasure. Uh I do have to go, but why don't you stay and look around? You know, the Exchange is a leading visitors attraction. Hey, I think I will. Good. Thank you very much. Quite. All right. Bye. Goodbye. To answer your question, there are over,00 companies listed for trading and they do half of all the business in America. The lady asked if there were any foreign companies traded. Could you suggest a good broker I could see in Burman? The exchange doesn't recommend a specific firm, but there are thousands of New York Stock Exchange member firm offices across the country. And you can find a listing of the ones in your area in your classified phone book. And now I'd like to give you a better idea of how this trading floor works. You all know what a share of stock is. It represents a part ownership in a business. And to be listed, our company must meet with several requirements. Well, I feel like we should order champagne tonight, too. Champagne? What are we celebrating, my dear? You were looking at the world's newest tycoon. Well, congratulations. Oh, Virtue. I talked to Mr. Huntley today and I took the big step. What? What? I bought stock with the money. Stock? Sh. You mean the $4,500? Yes. Yes. Yes. March. Whatever made you do a thing like that? Shh. Quiet. Didn't you ever stop to think that I had plans for that money? I I had a few investment ideas of my own. What ideas? I never heard you mention anything about investments before. I couldn't. It was strictly confidential. Absolutely confidential. What? Well, we just have to keep quiet about some of these things. You know, I I happen to know the people who were in on this deal, and it just can't miss. So, I thought maybe we could get in on the ground floor. The ground floor of what? Burton, what do you mean can't miss? Just what I said, can't miss. You go and ruin everything. I ruined it. Bertam, who are these people? How do you know they know what they're doing? Bertam, it's not that I mind. You're making an investment. But I just want to make sure that we know what we're doing. Well, what difference does it make? It's already done. And what's more, you've done it on your own. You've already spent the money. I didn't spend it. I invested it. And there's nothing secret about what I did either. And there's no confidential make a million deal on it either. One trip to the broker and right away you are an expert. Well, at least I know what I'm doing. Mar I Marge F Maj. MARGE. MARGE, PLEASE SPEAK TO ME. I'm going to withdraw our joint account from the bank tomorrow to pay Mr. Huntley for the stock. Marge. Marge. Marge. [music] Yes. Yes. HEY, J. COME ON. FIRST. FIRST. I got to talk. WHAT ARE YOU DOING HERE SO EARLY? I GOT TO TALK to you. The money. The money. I got to have the money back. What? The money. The money. I Today. I need it today. If it's not in the bank this morning, Marge, believe me. Well, see, I I I DON'T KNOW. YOU DON'T KNOW. WHAT DO YOU MEAN YOU DON'T KNOW? MY DEAL IS A DEAL. YEAH. I've got to have that money back. Well, now you're not going to lose if you stay in the deal. Believe. IT'S GONE. IT'S GONE. WHAT DO YOU MEAN IT'S GONE? WHO'D YOU GIVE IT? YOU GAVE IT. HOLD ON A MINUTE. HOLD IT. YOUR BOSS'S BROTHER. THE ONE IN CHICAGO. WHAT'S HIS NAME? WHAT'S HIS NAME? BOB. Bob Watkins. BOB WATKINS. BOB. COME BACK HERE, WILL. WHAT'S THE matter with that guy? Good morning. Hi. Yeah, I'd like to call long distance uh Chicago Bob Watkins. Watkins pushing a person. Thank you. Number I don't know the number. Oh. Oh, you information. Oh, yeah. That's Thank you. Hi, Dad. Who you? Drink your milk. Yeah, Bob. Robert. That's right. W A T K I Ns. T not B. T like W A T K I N S. Right. Watch. Where's Bert? Well, he's around. You know, I I think your husband's crazy. What? Hello. Hello. Operator. He's got to answer operator. THIS IS AN EMERGENCY. I have a All right. All right. I'll I'll I'll wait right here. I'll wait for the All right. I I'll You pull back. Thank you. All right. What do you want? YOU DIDN'T GIVE ME A CHANCE. Chance for what? Oh, just by dropped over to say, "Well, thank you very much, Jazz. Thank you. Thank you." Fair enough. You know, honey, I think we ought to drop off and see this Huntley fella together. Together? Uh-huh. Well, all right. Fine. But first, we have to stop at the bank to transfer the money. We don't have to go to the bank. But the money. I've already got the money. A certified check. [laughter] [music] Well, Mr. Jones, I'm very happy to meet you. Mr. Huntley, how are you? I thought I'd come down and kind of give you this myself. Oh, well, that was very nice of you, but you didn't have to do that. So exciting. Where you come? You see, this is our board. Heat. Heat. [music] [music] [music] [music] Heat. Heat. [music] [music]