Friday, February 24, 2012

Interest Rates and Stock Speculation

Interest Rates and Stock Speculation: A Study of the Influence of the Money Market on the Stock Market
by Richard N. Owens and Charles O. Hardy

Book Description: The Macmillian Company, New York, 1925. Hardcover. 1st Edition. 12mo - over 6¾ - 7¾" tall. Hardcover, Blue cloth boards with gilt title to cover and spine, First Edition, published 1925, 197 pp., no dj,

Book Condition: Very Good, covers rubbed and light soil, corners bumped and frayed with boards slightly exposed, spine soiled and lightly faded, small nick to spine cover (see cover), spine bumped, general shelfwear, some light dents to board edges, previous owner name and date to front end papers, some pages dog-eared, pages tanned otherwise clean with the exception of a few stray pencil marks, top dust dulled, binding intact, spine straight, no dust jacket.

Contents: Director's Preface, Author's Preface, CHAPTER I: THE ACCEPTED THEORY OF THE RELATIONSHIP OF INTEREST RATES TO STOCK SPECULATION, I. Seasonal Fluctuation in Interest Rates, II. Accepted Theory of Seasonal Variations, III. Accepted Theory of Cyclical Fluctuations,

CHAPTER II:
SEASONAL VARIATIONS IN CALL LOAN RATES AND IN STOCK SPECULATION, I. Nature of Data Used in the Study of Seasonal Variations, II. Seasonal Influences Tested by Comparison of Averages, III. Seasonal Influences Tested by the Method of Link Relatives, IV. Seasonal Influences Tested by Direct Comparison of Concurrent Changes, V. Seasonal Variation in Call Loan Rates and the Volume of Sales of Stocks,

CHAPTER III:
DAY-TO-DAY VARIATIONS IN CALL LOAN RATES AND IN SPECULATIVE ACTIVITY, I. Day-to-day Variation in the Call Loan Rate and in Security Prices, II. Day-to-day Variations in the Call Loan Rate and in the Volume of Sales of Stock,

CHAPTER IV: LOW CALL LOAN RATES AND THE CYCLICAL VARIATIONS IN SPECULATION, I. Low Call Loan Rates and the Recovery of Stock Prices Since 1872, II. Relation of Low Interest Rates to the Volume of Sales of Stocks,

CHAPTER V:
HIGH CALL LOAN RATES AND CYCLICAL VARIATIONS IN SPECULATION,

CHAPTER VI: SHORT TIME LOAN RATES AND SPECULATION, I. Low Short Term Rates and Stock Prices, II. High Short Time Rates and Stock Prices,

CHAPTER VII:
CHANGING RATES ON SHORT TIME LOANS AND VARIATIONS IN SPECULATION: I. Declining Short Term Interest Rates and Stock Prices, II. Advancing Short Term Interest Rates and Stock Prices,

CHAPTER VIII: THE CORRELATION BETWEEN INTEREST RATES AND SOCK PRICES,

CHAPTER IX:
SPECULATIVE AND NON-SPECULATIVE SECURITIES: THEIR RELATIVE SENSITIVENESS TO CHANGES IN THE MONEY MARKET, I. The Indexes of Stock Prices Computed by the Institute of Economics, II. Comparison of the Movements of Interest Rates and Industrial Stock Prices since January 1919,

CHAPTER X:
THE LOGIC OF THE THEORY: I. Seasonal Variations in Interest Rates and in Stock Speculation, II. Cyclical Variations in Interest Rates and in Stock Speculation, III. General Considerations,

APPENDICES
, A. Monthly Rate of Interest of Interest on Call Loans at the NYSE, B. The 50 Year Index of Industrial Stock Prices, C. Index Numbers of Prices of 10 Railroad Common Stocks, D. Number of Shares Sold on the New York Stock Exchange 1881-1913, E. Interest Rates, Shares Sold, and Industrial Stock Prices 1906 1908 and 1910, F. Rates on 60-90 Day Paper in New York 1871 - 1824, G. Indexes of Stock Prices 1919 - 1924, H. Interest Rates and the Price of Non-Speculative Securities, I. Note on Statistical Methods, J. Secular Trends of Short Time Interest Rates and Stock Prices, K. Rates on 60-90 Day Paper Adjusted for Seasonal Variation. -- end. 197 pages.

Summary:
Scarce First Edition of this Pre-Depression title on the correlation of Interest Rates to Stock Prices. Highly Collectible.

Buy Now:
$350.00


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