[271] See the table of shares and approximate values in Pratt's Work of Wall Street, 1912 ed., p. 187. This table covers the years, 1890-1911.
[272] Boston Transcript, "Tape Record of Sales Incomplete," May 6, 1916, Pt. I, p. 12. The Transcript quotes as authority the New York Commercial. Following the extraordinary market of Sept. 25, 1916, when the ticker recorded 2,317,000 shares sold on the New York Stock Exchange, the newspapers estimated that missed sales, odd lots, and unrecorded sales on stop loss orders, would bring the total above 3,000,000 shares. There was an unusual number of stop orders caught that day. There will be very few other sales of 100 shares missed by the ticker, except in times of extraordinary pressure. See Boston Herald, Sept. 26, 1916, p. 1.
[273] Hollander, J. H., Bank Loans and Stock Exchange Speculation, Senate Document 589, 61st Congress, 2nd Session, p. 23.
[274] Pratt, Work of Wall Street, 1912 ed., p. 264.
[275] Annalist, Dec. 27, 1915, p. 719—"Selling Phantom Grain."
[276] My information regarding the Coffee Exchange in New York comes from the Treasurer of the Exchange, Mr. Jas. H. Taylor, through the courtesy of Mr. W. H. Aborn, of Aborn and Cushman, New York.
[277] Report of the Hughes Commission, in appendix to Pratt's Work of Wall Street, Rev. ed., p. 417. This report gives information regarding all the organized exchanges in New York.
[278] L. Conant, Jr., "The United States Cotton Futures Act," American Economic Review, March, 1915, p. 1.
[279] Hughes Commission, loc. cit., p. 418.
[280] Taussig, Principles of Economics, I, p. 405; Kinley, Report of the Comptroller for 1896, p. 89.