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BUYING IN

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Originally appearing in Volume V04, Page 894 of the 1911 Encyclopedia Britannica.
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BUYING IN , on the See also:

English stock See also:exchange, a transaction by which, if a member has sold securities which he fails to deliver on settling See also:day, or any of the succeeding ten days following the See also:settlement, the buyer may give instructions to a stock exchange See also:official to " buy in " the stock required. The official announces the quantity of stock, and the purpose for which he requires it, and whoever sells the stock must be prepared to deliver it immediately. The See also:original seller has to pay the difference between the two prices, if the latter is higher than the original See also:contract See also:price. A similar practice, termed " selling out," prevails when a purchaser fails to take up his securities.

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