DELIVERIES OF SCRIP.
Varying .-'periods . are allowed in;. Aus-i tralia/fbr; the delivery of scrip.; stold through-a.member of'■•:a recognised, Stock Exchange.;. A; "prompt" transaction;in'-. :volves'the;delivery: of the shares by, 1 o'clock in the afternoon^ This method of dealing-is used when- a buyer desires to obtain; quick possession of his new: holding, or when it ij»; necessary for; a seller to meetia buyers, written'demand after the ordinary; time for. delivery has j elapsed. A, "cash" sale' is ' made on the understandingithat the..*:rip will be delivered ■vvithin .three days, 'after • which time the buyer can take steps to have delivery made. The-seller has; the:right to deliver and-ask for settlement at any time in the three days. Occasionally a sale is made "at a.fortnight." This isfTisually to allow time for scrip to be: sent from' New Zealand; or ito r facilitate the financing of purchases. A sale "at a month", means that the buyer has the option, of calling upon the seller to deliver the scrip at any time/during the*'month; In . "forward" transactions,the contract matures in six weeks. This class'of business is indulged in by ■ Bpeculative dealerg, by broker* who have orders 'from- clients overseas, principally in lioridonj and by investors who do. not wish s to' pay - cash' immediately or who wish to disguise; part of a large Celling order. . ....:.;./,: ,; ■ .-.. -. ■■ .•' ' . .;.
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Bibliographic details
Evening Post, Volume CIX, Issue 145, 23 June 1930, Page 12
Word Count
217DELIVERIES OF SCRIP. Evening Post, Volume CIX, Issue 145, 23 June 1930, Page 12
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