The world's greatest securities market is not, as most people suppose, the New York Stock Exchange. Together that exchange and 21 others in various U. S. cities trade in a mere 7,000 security issues. But the vast, inchoate and little publicized U. S. over-the-counter market deals with no less than 55,000. The dollar volume of business it handles has been estimated as much as 300% above that of the exchanges, but no one knows how great it is. Nor does anyone know exactly how many "otc" dealers there are. On January 1, 6,883 such...
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