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Salient: Victoria University Students' Paper. Vol. 25, No. 10. 1962.

Stock Exchange Lecture

Stock Exchange Lecture

Ron Jarden discussed his new interest, "The Workings of the Stock Exchange," with the Commerce Faculty Club on Wednesday, July 11. He spoke and answered questions for over an hour to about 50 people, predominantly full-time students, in spite of obvious interest to part-timers.

To become a member of the stock exchange, Mr Jarden said, one must first apply to the Court. A thorough investigation of the applicant's background is made before being issued with a broker's licence. One then buys a seat on the Exchange for up to £2,000, compared with £15,000 in Sydney and $100,000 on Wall Street.

Wellington handles only 250 listed shares a day, he said, which necessitates a method of trading calls not used overseas. Elsewhere post trading is used—Sydney handles 500,000 shares each day. Mr Jarden described the types of shares and securities, debentures, preferential shares, and Government and local bodies' stock.

This talk by the most recent member of the Stock Exchange was informative, and presented in a manner that the student could easily understand.