Law in England affecting companies, 147, 434. Law in England, affecting short sales, 95; affecting speculation, 225. Law in N. Y. regulating speculation, 247; repealed 248. Law, John, 390*. Laws affecting short sales in U. S., 95, 246; repealed, 247; decision of court, 416, 420. Laws of France, short sales, 404, 410. Laws of various states, affecting speculation, 251. Law, Usury, in N. Y., 105*. Leeman Act of 1867, 227. Legislation recommended by Hughes Commission, 435. Lending and borrowing stocks, N. Y. and London, 354–5. Leroy-Beaulieu, Anatole, on Paris Bourse, 383 _et seq._, 387*. Leroy-Beaulieu, Paul, _Nouveau Dictionnaire d’Economie Politique_, 44*; on Publicity, 163, 349; on Speculation, 44. Lexis, Dr. W., on Necessity for Stock Exchanges, 21. Liability of stockbrokers in Paris, 395. Listing of new securities, 168; N. Y. and London 363; vendor’s shares, 364; opinion of Hughes Commission, 424. _Lloyds_, 38. Lloyd, W. W., on Panics, 219*. “Loan Crowd,” 290. Loans by banks to stockbrokers, 110, 190. _Lombard Street_, by Walter Bagehot, 92*, 379*. London Exchanges in XVI Century, 323. _London Money Market, Rise of the_, by W. R. Bisschop, 379*. London Stock Exchange, history of, 326, _et seq._; management of, 329; rules, 330, 364*; membership, 332, 335; stockbrokers, 332; admission, 332–3; entrance fees, etc., 333; capital stock, 333*; precautions against monopoly, 333; jobbers, 336–7–8; commissions, 342; settlement days, 344; publicity, 347; borrowings from banks, 353; transfers, 355; volume of business, 356–7; official list, 358 _et seq._; securities as affected by war, 368; the day’s work, 372. London Stock Exchange, unincorporated, 267*. London, The world’s banker, 366. Luncheon Club, The, 305. Manhattan Banking Company, 31. Manipulation, efforts of governors to suppress, 169, 174. Manipulation, opinions of Courtois and Conant,175*. Manipulation, opinion of Emery, 257; comment of Hughes Commission, 421. Manipulation prohibited, 254 Manipulation, value of, 170. Margin, speculation on, 50, 51, 52. Margins, insufficient margins prohibited, 255 and 256 Margins required by stockbrokers, 147. Margin Trading a feature of all business, 58. Margin Trading a matter of contract, 53. Margin Trading defined by Hughes Commission, 419. Market in N. Y. compared with London, 340. Market in Paris as affected by stockbrokers’ monopoly, 397 _et seq._ Markets, defined by Hughes Commission, 415. Markets for produce, 6. Marshall, Alfred, on legislation, 255. Matched orders, 422. McCulloch, J. R., _Principles of Economics_, 46*. McMaster on Public Sentiment in Early Days, 30. McVey, Frank L., on Stock Exchange Usefulness, 41*. _Mechanism of the City, The_, by Ellis T. Powell, 379*.