Excerpt from The Real Wall Street, an Understandable Description of a Purchase a Sale a Short Sale: With Forms, Definitions, Rules, C

During eight years' special study in connection with my practice in New York City, I have been unable to find anything that gave a clear and comprehensive statement of stock transactions on the New York Stock Exchange. It has been no easy task to write one, first, because the information cannot be had from books, second, it is exceedingly difficult to compress it into a small volume, third, it is hard to decide what to omit. I have con cluded to give the entire course of a stock transaction. If I have gone too much into detail, that is better than leaving out the very thing a particular reader might wish to know.

After a day spent in the Congressional Library at Washington, I can say that this is the first attempt to give the complete mechanism of a trade in stocks.

I intend to expand this volume in future, and when time permits to use it as the skeleton of a law book follow ing the lines of my New York New Jersey Corpora tions, in which I will annotate the decisions as far as possible, to the particular stage of the trade they relate to. Although the present edition is the result of nearly a year of examination of the law and customs of the New York Stock Exchange, I am aware that it may contain inaccuracies which I will be glad to have the reader inform me of. I gratefully acknowledge my obligation to Mr. Elbert W. King for his most valuable technical suggestions, and also to Mr. H. N. Raymond for his assistance.

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