CHAPTER VIII.
THE STOCK EXCHANGE.

THE Stock Exchange is a market for the
sale and purchase of all kinds of securities.
The buildings, wherein business is transacted,
occupy a triangular plot of ground near the
Bank of England, and comprise the Hall where
the various markets are held, and other rooms
and offices for the use of the numerous officials.
There are 2,500 members, and the management
is vested in a Committee selected from their
number. Admission to membership is open to
any person not engaged in another business,
and who is properly proposed and seconded;
but very strict regulations and guarantees are
enforced before entry, so as to exclude any one
whose circumstances and character will not bear
the strictest investigation. The hours of busi-
ness are eleven to four o'clock on all days except
Saturday, when they are until two o'clock. The
members of the house are divided into Jobbers
and Brokers, the former being dealers in stocks
and shares. It is contrary to practice for
brokers to deal with brokers, and all trans-
actions are between brokers and jobbers.

What are known as "markets" are groups of
jobbers distributed about the house, each group