The Lady and the Stock Exchange (sound)

York York 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 792 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 in 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 I hope I on the hitn in Swedish that's an invitation [Music] 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 be a good idea see I got to go Bye Mom bye dear bye there uh uh bye Andy Abacus hey darling I spoke to Mr Barnes he wants to put Andy in an advanced [Music] class bertrum 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 better run who's that on the phone oh nobody just Betty Betty see you later yes [Music] all right Jess good morning good of you to come well I don't know Jess that that that's an awful lot of money relax your uncle Jess wouldn't steer you wrong [Music] uh may I speak to Mr Huntley please uh who's calling Mrs virgin 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 hutley 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 was an interesting evening the ladies enjoyed it I won you well uh is this your first visit to a broker's office yes it is you know I U 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 4 months ago my husband and I were left $4,500 and um well I thought we should invest it so they can help put Andrew through college when he's ready well that's a good reason uh tell me M 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 johnes 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 $99,000 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 save as a baby in the Cradle oh 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 you know he's a he's a wizard science they're going to put him in a special class napkin he uh old brother oh I got to go get it back to work relax will you believe me you made the right move you really think so sure we got the inside ra listen my my boss's brother he 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 Mr 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 [Music] husband hello yeah oh yes put him on please par hello hello oh Dr Johnson yes this is Bill 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 commissioner 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 we 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 B'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 rich quick scheme and well I don't know Mr hle 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 and8 oh good thanks Al 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 Stu 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 okay Professor I want you in bed early tonight here yes ma'am there we [Music] are no you know um I went into town today honey mhm I went to um visit that broker that Betty told me about Bill Huntley uhhuh he uh he spent a great deal of time with me telling me about all the ways we can invest the money B [Music] 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 to invest honey no oh uh well uh I I I just don't think this is the time time to invest well then when beram I mean that money was left to us to to to to put to good use oh please beram honey but we've got to start doing something about our future let me handle the future now hey what not 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 go away with your [Music] wife the [Music] genius Andy do you know that your father is a financial delinquent okay pal up to bed quick good night Dad good night Egghead [Music] what [Music] hello may I speak to Mr Huntley please thank you hello Mr huttley this is Mars 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 hutley 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 [Music] beram Jones please beram hi say um honey how would you like to take your wife to dinner tonight H hello yes yes this is Bill Hunley that's right fine 100 shares each of 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 it 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 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 we're 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 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 in office 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 sell's broker will bargain for example the sell's broker might offer 100 shares at 32 your broker might bid 31 A2 and the trade might eventually be made at 31 and 3 quarters 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 then 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 think 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 right all bye goodbye to answer your question there are over 1100 companies listed for trading and they do half of all the business in America we Madame the lady asked if there were any foreign companies traded could you suggest a good broker I could see in burir 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 ber I talked to Mr Huntley today and I took the big step much right I bought stock with the money stock you mean the $4,500 yes yes Mar whatever made you do a thing like that shet you ever stop to think that I had plans for that money 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 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 beram who are these people how do you know they know what they're doing beram 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 what difference does it make it's already done and much 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 but at least I know what I'm doing Mar I know him mar mar m m please speak to me I am going to withdraw our joint account from the bank tomorrow to pay Mr Huntley for the stock mge mge Marge [Music] J J hey J come on first first I got 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 M will leave me well see I I don't I don't know you don't know what do you mean a deal is a deal yeah I've got to have that money back now you're not going to lose if you stay in the deal it's gone it's gone what do you mean it's gone who'd you give it you gave it to hold on a minute hold your boss's brother the one in Chicago what's his name what's his name come back here matter with that guy good morning hi [Music] Hello Operator I I'd like to call Long Distance uh Chicago Bob Watkins Watkins person to person thank you the number I I don't know the number oh you you inform that's fine thank you hi Dad who you drinking milk yeah Bob Rober that's right w a t k i ns T not b t t like w a t k NS right watch out oh where's bird oh you wrong you know I I think your husband's crazy what hello hello hello operating but he's got to went operator this is an emergency I have a all right all right I I I'll wait right here I'll wait for you to all right I I'll you'll pull back thank you all right what do you want you didn't give me a chance chance for what oh just but you dropped over to say well thank you very much chess thank you thank you very you know honey I think we ought to drop off and see this Huntley fell together together uhhuh well all right fine but first we have to stop at the bank to transfer for the money we don't have to go to the bank but the money I've already got the money a certified check well Mr Jones I'm very happy to meet you Mr Hunley 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 [Music] oh for