Making

a price. A stock market term; when a seller at { the request of a buyer names the price at which he will sell “or a buyer at the request of a seller names a price at which he will buy a price is made. On the London Stock Exchange when a jobber (practically a wholesaler of stocks) is asked by a broker to make a price 77 he, not knowing whether the broker is buyer or seller, names the price at which he will buy and the price at which he will sell and the broker then deals. For instance, a broker who has £1,000 consols to sell asks a jobber to make him a price in consols; the jobber replies “96 3-4—7-8” and the broker says “Sell you £1,000,” meaning that he sells the stock at 96 3-4; the jobber then seeks to undo the bargain by selling the stock to another jobber at 96 13-16, taking his “turn” of 1-16. Making-up day. Same as contango day or continuation day; the first day of the settlement on the London Stock Exchange when settling prices are announced and when, also, the rates for carrying-over or continuing bargains (contracts) are fixed. For additional information see Settlement, The. Making-up price. Settling price at the New York Stock Exchange clearing house. For information see New York Stock Exchange clearing house.: Making-up prices on the London Stock Exchange are prices at which stocks in which there is any speculative account are made up or continued or carried over from one settlement to another. For instance, if one operator buys £1,000 consols and does not wish to pay for the stock or sell it when the settlement comes but to continue the bargain in the expectation of a rise in the price he instructs his broker to carry the stock over ror him. The broker finds either a bear or a money lender who will take in the stock on receipt of a contango and carries over the stock with him; that is to say, sells the stock to him for cash and buys it again for the new account, both bargains being carried out at the “making-up” price. The making-up price is thus always a single price and is not quoted double as ordinary prices are in London. 300