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Cartoon on Stock Exchange Settlement Terms
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Cartoon on Stock Exchange Settlement Terms
Until Big Bang in the City of London (1986), there was a settlement day (every fortnight) for the payment of stocks and shares - this period was known as The Account. Nowadays, all shares have to be paid for every three days. This card is a lampoon of a stockbroker tied up in deepest Africa, with his client settling his debts
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Media ID 4431093
© Mary Evans Picture Library 2015 - https://copyrighthub.org/s0/hub1/creation/maryevans/MaryEvansPictureID/10280491
Account Clubs Desert Englishman Exchange Lampoon Oasis Payment Settlement Shares Skirt Stock Stocks Terms Tied Tribesmen Deepest Fortnight Stock Broker
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A Humorous Take on Stock Exchange Settlement Terms: An English Stockbroker in Deepest Africa (1906) Before the 'Big Bang' in the City of London in 1986, the stock exchange settlement terms were quite different from what we know today. The account period, which was the time for the payment of stocks and shares, only occurred every fortnight. This quirky cartoon, published in 1906, offers a lighthearted depiction of the challenges that could arise during the settlement process. In this amusing image, an English stockbroker, dressed in formal attire, finds himself in the heart of Africa, tied up by local tribesmen. Surrounded by the arid desert landscape and an oasis in the background, his client, a native African, is calmly settling his debts with a club, symbolizing the payment of shares. The stockbroker, with a worried expression, clutches a stock certificate and a skirt, perhaps a symbol of the financial instability that could ensue during the settlement process. This historical cartoon lampoons the complexities and uncertainties that came with the stock exchange settlement terms before the 'Big Bang' reforms. The fortnightly payment schedule could lead to unexpected complications, as illustrated by the stockbroker's predicament in the middle of the African desert. Despite the challenges, the scene is portrayed with a touch of humor, demonstrating the resilience and adaptability of the financial world even in the most unlikely of places.
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