US2158101A - Stock quotation system - Google Patents

Stock quotation system Download PDF

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Publication number
US2158101A
US2158101A US527905A US52790531A US2158101A US 2158101 A US2158101 A US 2158101A US 527905 A US527905 A US 527905A US 52790531 A US52790531 A US 52790531A US 2158101 A US2158101 A US 2158101A
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US
United States
Prior art keywords
relay
stock
register
relays
price
Prior art date
Legal status (The legal status is an assumption and is not a legal conclusion. Google has not performed a legal analysis and makes no representation as to the accuracy of the status listed.)
Expired - Lifetime
Application number
US527905A
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English (en)
Inventor
John I Bellamy
Current Assignee (The listed assignees may be inaccurate. Google has not performed a legal analysis and makes no representation or warranty as to the accuracy of the list.)
Associated Electric Laboratories Inc
Original Assignee
Associated Electric Laboratories Inc
Priority date (The priority date is an assumption and is not a legal conclusion. Google has not performed a legal analysis and makes no representation as to the accuracy of the date listed.)
Filing date
Publication date
Priority to BE375708D priority Critical patent/BE375708A/xx
Priority claimed from US413205A external-priority patent/US2095730A/en
Priority to GB36193/30A priority patent/GB368369A/en
Priority to GB34899/31A priority patent/GB370500A/en
Priority to FR710472D priority patent/FR710472A/fr
Application filed by Associated Electric Laboratories Inc filed Critical Associated Electric Laboratories Inc
Priority to US527905A priority patent/US2158101A/en
Priority to US540993A priority patent/US2179736A/en
Application granted granted Critical
Publication of US2158101A publication Critical patent/US2158101A/en
Anticipated expiration legal-status Critical
Expired - Lifetime legal-status Critical Current

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    • H—ELECTRICITY
    • H04—ELECTRIC COMMUNICATION TECHNIQUE
    • H04L—TRANSMISSION OF DIGITAL INFORMATION, e.g. TELEGRAPHIC COMMUNICATION
    • H04L12/00—Data switching networks
    • H04L12/02—Details
    • H04L12/16—Arrangements for providing special services to substations
    • H04L12/18—Arrangements for providing special services to substations for broadcast or conference, e.g. multicast
    • H04L12/1804—Arrangements for providing special services to substations for broadcast or conference, e.g. multicast for stock exchange and similar applications
    • H—ELECTRICITY
    • H04—ELECTRIC COMMUNICATION TECHNIQUE
    • H04M—TELEPHONIC COMMUNICATION
    • H04M1/00—Substation equipment, e.g. for use by subscribers
    • H04M1/26—Devices for calling a subscriber
    • H04M1/27—Devices whereby a plurality of signals may be stored simultaneously
    • H04M1/272—Devices whereby a plurality of signals may be stored simultaneously with provision for storing only one subscriber number at a time, e.g. by keyboard or dial

Definitions

  • the present invention relates to stock-quotation systems, but is concerned more particularly with systems of this kind wherein the transmitter comprises a register sender and wherein the receiver comprises an indicating device responsive to impulses received from the transmitter.
  • This divisional application covers the novel features of the new and improved register sender or transmitter used at the central transmittin station of the system.
  • the system herein disclosed is an improvement on the system disclosed in the application of Bellamy et al., Serial Number 378,298, filed July 15, 1929.
  • a stock broker to have a socalled stock ticker in his office from which a tape slowly unwinds, giving the selling prices of the active stocks.
  • the broker has an attendant who reads the tape and marks down the prices on a blackboard so that the waiting customers may see the trend of the market.
  • the blackboard shows yesterdays closing price, todays opening price, the high price of the day, and the low price of the day.
  • the stocks are listed by means of the letters of the alphabet, some stocks being represented by a single letter, some by two, and others by three. In order to make av division of stocks between the two operators, all stocks represented by the letters A to K may be assigned to one operator, as well as all stocks of two or three letters of which the first letter is A to K.
  • the second operator takes care of the sales involving the stocks L to Z and the plural letter stocks whose designations begin with any one of the letters L to Z.
  • a local sender is provided to set the stock registers under the control of the registering apparatus which responds to the received impulses.
  • a portion of the register can be released so that a second quotation may be partly received while the local sending apparatus is setting the stock registers in accordance with a first quotation.
  • the said counting relays as are sent to the stock I registers being operated, so as to enablea reliable counting-relay arrangement to be used, employing two relays per impulse delivered to the counting relays, but only one relay per impulse delivered to the stock registers.
  • FIG. 1-1'7 show by means of the usual circuit diagrams and mechanical drawings a transmitting and receiving system embodying the features of the invention. More in particular, Figs. 1-8 and 8A show a transmitter which may be designated asthe transmitter TI; Fig. 9 indicates the transmitters T2, T3, and T4 together with a few of the plurality of receivers; Figs. 10, 11, 11A, 12, and 12A showcircuit drawings of one of the receivers, RE'I; Figs. 13 and 14 indicate mechanical details of a stock register used in the receiver; Fig. 15 is a table showing the code according to which the impulses are transmitted by the transmitter and are received and recorded in the receiver; Fig. 16 shows a modified form of the receiver RE! to be used whenever differences in ground potential are suf- 'ficient to interfere with the operation of .the
  • Fig. 10 receiving arrangement of Fig. 10; and Fig. 17, appearing on the lower, part of the same sheet with Fig. 5, is a layout of Figs. 1 to 12A.
  • the transmitter In the transmitter, Figs. 1 to 8A, the apparatus for registering the stock-designating letters,
  • the price registers for registering the price (at which a current stock transaction took place) under the control of the digit keys of Fig. 5 comprises the price registers shown in Fig. 7.
  • the price register PH registers the pricehundreds digit; the register PT registers the price-tens digit; the register PU registers the price-units; and the register PF registers the price-fractions digit.
  • the stock-code registers are set from the translating apparatus of Fig. 3, through the intermediate distributing frame IDF, and comprise the stock-hundreds register SH, the stock-tens register ST, and the stockunits register SU. It may be further pointed out that a 'so-called range indication. (to be later explained) is registered on thestock-range register SRof Fig. 6 under control of the range keys of Fig.6, and that a price-range registration is set up automatically by the action of the transfer relays, IOI, I63, 105, and I01, associated with the price registers of Fig. 7. r
  • Fig. 6 includes a rectangle labeled register set #2.
  • This register set #2 contains a duplicate of the equipment shown in Figs. 4 and 7, of the range register R of Fig, 6, and of the relays 835 and 836, Fig. 8.
  • the two register sets are arranged to be used alternately so that a second registration may be set up immediately following the first and while the first is held stored on the first register set and is being transmitted.
  • the relays 6M and M5 are common to the two registers and are arranged to switch from one register to another to automatically switch the next register into service.
  • the apparatus shown in Figs. 8 and 8A is the sending apparatus and it sends digit impulses under the control of the two register sets shown in Figs. 4, 6, and 7.
  • the impulses transmitted by the sender of Fig. 8 go out over the conductor 85! to the several receiving stations, as will be hereinafter explained.
  • the vacuum tubes IEMI and I042 have their grid elements connected to the incoming line conductors 9H], and they have the responding relays IilOI, I882, and I093 connected in their plate circuits. These responding relays, with the cooperation of relays 364-4009 send impulses to set the stock registers of Fig. 10 and to set the price registers of Fig. 11.
  • the stock registers of Fig. 10 are labeled SH, ST, SU, and SR. They are the hundreds, tens, units, and range registers, respectively.
  • the price registers of Fig, 11 are labeled PR, PH, PT, PU, and PF. They are the range, hundreds, tens, units, and fraction registers, respectively.
  • Fig. 12 shows the stock-relay hundreds selector comprising relays I 20I-I2I 0, of which the relays I20I, I202, and I2) only are shown; together with the associated terminals provided below the relays for the interconnection between the relay contacts and the stock-relay pairs, such as the stock-relay pair comprising I24I and I242.
  • the stock-relay pairs are divided into ten groups of not more. than one hundred relay-pairsper group, and the relays of Fig. 12 are operated in accordance with the stock-hundreds digit to select the hundreds group in which is to be operated.
  • Each stock on the receiving board is represented by twenty registers, such as the register R.-I, Figs. 13 and 14, Fig. 14 being a front view. These registers are arranged in five horizontal rows, .four registers to a row.
  • the top row (YC) indicates yesterdays closing price; the next row (OP) indicates todays opening price; the nextrow (HI) indicates todays high price; the next row (LO) indicates .todays low price; and the bottom row (LA) shows the last price received for the stock in question.
  • the stock-range relays I255 and I259 operated under the control of row only of the registers, the-other relays controlling the other rows, respectively.
  • 7 Fig. 11A shows the local sender which operates under the control of the price registers of Fig. 11' to send impulses to the stock registers through the medium of the receiving relays I25I-I254,
  • the register set #1 comprising the registering apparatus of Figs. 4 and 7, the upper portion of Fig. 6, and relays 835 and 831, Fig. 8, is in service at this time, this being true because the relay 614 is energized, as shown, and because the relay 615 is deenergized, as shown.
  • the letters representing the stock whose quotation is to be transmitted are the letters B, B, and A and that the price to be transmitted is 104 and dollars (1041). The numerator only of the fractions of dollars is transmitted; the denominator 8, being the same in all cases, is not transmitted.
  • the full indication to be set up may be represented by BBA--1041-LA.
  • the first portion is set up by operating the stockletter keys of Fig. 1.
  • the second portion is set up by operating the digit keys of Fig. 5; and the final portion (the range indication) is' set up by operating a range key of Fig. 5.
  • Relay B When the key B is pushed, a circuit is closed from ground through the contacts of the key and through contacts of the normally-energized connecting relay 202 for the register relay B of the stock register SR1.
  • Relay B energizes and at its e inner upper armature closes a locking circuit for itself through the transfer relay 20! from the grounded conductor 250, which is grounded through contacts of relays 201 and 208 from the grounded conductor 662, which latter conductor is grounded in Fig. 6 through contacts of the error relays, 613' of the register set #2, and 613 of the register set #1.
  • the locking circuit for relay B does not become effective immediately, and relay 2e: remains short circuited and deenergized as long as the key B of Fig.
  • relay 204 falls back and disconnects the stock-letter keys A to Z from the second-letter storage relays A to Z
  • relay 205 energizes through contacts of relays 201, 203, and 205, and connects the stock-letter keys A to Z to the third-letter relays A to Z of the stock register SR3.
  • the relays of the register SR3 are designated in this manner to indicate that they are the third-letter relays and that the first two letters are variable letters; that is, either one of the first two letters may be any one of a plurality.
  • transfer relay 205 operates in series with relay -A when the A key is released, and at its inner armature it disconnects relay 206 and allows it to fall back and disconnect the stock-letter keys from the associated relays A to -Z.
  • relays A and B of PH When relays A and B of PH operate, they close locking circuits for themselves at their inner armatures through transfer relay 101 to the grounded conductor 606, conductor 600 being grounded at this time through the upper contacts of relay 613 and the normally closed contacts controlled by the upper armature of relay 615.
  • the locking circuit for relays A and B becomes effective, and relay 1'01 energizes therein and transfers the grounded con-ductor 601 fromv relay 702 to the connecting relay 104, through contacts of the transfer relay 103.
  • relay I02 falls back and disconnects the key conductors 50I-504 from the relays A to D of the price-hundreds register PH, and relay 706 operates and connects these conductors to the corresponding relays of the price-tens register PT.
  • Relay D When the operator depresses the digit key to set up the price-tens digit, a circuit is closed from ground over conductor 504 and through contacts of connecting relay 104 for relay D of the price-tens register PT.
  • Relay D operates and locks itself at its inner armature to the grounded conductor 606 by way of the transfer relay 763.
  • Relay 103 accordingly, energizes when the digit key 0 is restored, and it transfers the operating conductor 50'! from connecting relay- "d to the connecting relay 706 by way of contacts of the transfer relay 70E.
  • Relay 704 accordingly falls back and relay operates, and conductors I-504 are disconnected from the relays of the register PT and are connected to the relays A to D of the register PU.
  • relays A and B of the price-fractions register PF operate over conductors 50! and 502 and close locking circuits for themselves to conductor 606 by way of transfer relay 101.
  • relay 10? operates when the digit key is released, and it opens the circuit of relay I00, whereupon relay 108 falls back and disconnects the conductors 5H505 from the relays A to D of the pricefractions register PF.
  • the relay BA has a plurality of sets of contacts, three contact pairs a set. Each of these contact sets is associated with a different one of the groups of conductors, three conductors a group, grounded under the control of the relays A to R of the stock register SRI.
  • Relay --BA closes all of these conductors through to the left-hand side of the intermediate distributing frame IDF, but only the set labeled BBA at the frame IDF is, grounded on account of the fact that only the relay B of the stock register SRi is energized.
  • the intermediate distributing frame IDF there are three sets of terminals, one terminal set is connected with a group of conductors labeled CDI, indicating that this group of conductors corresponds to the first code digit; the next set of contacts onthe righthand side of the IDF terminates the conductors labeled CD2, having to do with the second code digit; while the third set of contacts terminates the group of conductors CD3, having to do with the third code digit.
  • the contacts of each of these sets are labeled 1 to 0, and they correspond respectively to the digits 1 to 0.
  • the conductor groups CDl, CD2, and CD3 extend at this time through the contacts of the energized relays 403, 404, and 1105 to the relays l to 0 of the stock code registers.
  • SH, ST, and SU corresponding to the hundreds, tens, and units code digits, by means of which the stocks are identified at the receiving station.

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  • Engineering & Computer Science (AREA)
  • Signal Processing (AREA)
  • Business, Economics & Management (AREA)
  • Accounting & Taxation (AREA)
  • Finance (AREA)
  • Computer Networks & Wireless Communication (AREA)
  • Financial Or Insurance-Related Operations Such As Payment And Settlement (AREA)
US527905A 1929-12-11 1931-04-06 Stock quotation system Expired - Lifetime US2158101A (en)

Priority Applications (6)

Application Number Priority Date Filing Date Title
BE375708D BE375708A (enrdf_load_stackoverflow) 1929-12-11
GB36193/30A GB368369A (en) 1929-12-11 1930-12-01 Improvements in or relating to electrical signalling systems
GB34899/31A GB370500A (en) 1929-12-11 1930-12-01 Improvements in or relating to impulse transmitters for use in electrical signallingsystems
FR710472D FR710472A (fr) 1929-12-11 1930-12-09 Perfectionnements aux systèmes de signaux électriques
US527905A US2158101A (en) 1929-12-11 1931-04-06 Stock quotation system
US540993A US2179736A (en) 1929-12-11 1931-05-29 Stock quotation system

Applications Claiming Priority (3)

Application Number Priority Date Filing Date Title
US413205A US2095730A (en) 1929-12-11 1929-12-11 Stock quotation system
US527905A US2158101A (en) 1929-12-11 1931-04-06 Stock quotation system
US540993A US2179736A (en) 1929-12-11 1931-05-29 Stock quotation system

Publications (1)

Publication Number Publication Date
US2158101A true US2158101A (en) 1939-05-16

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Family Applications (2)

Application Number Title Priority Date Filing Date
US527905A Expired - Lifetime US2158101A (en) 1929-12-11 1931-04-06 Stock quotation system
US540993A Expired - Lifetime US2179736A (en) 1929-12-11 1931-05-29 Stock quotation system

Family Applications After (1)

Application Number Title Priority Date Filing Date
US540993A Expired - Lifetime US2179736A (en) 1929-12-11 1931-05-29 Stock quotation system

Country Status (4)

Country Link
US (2) US2158101A (enrdf_load_stackoverflow)
BE (1) BE375708A (enrdf_load_stackoverflow)
FR (1) FR710472A (enrdf_load_stackoverflow)
GB (2) GB368369A (enrdf_load_stackoverflow)

Families Citing this family (2)

* Cited by examiner, † Cited by third party
Publication number Priority date Publication date Assignee Title
US2569443A (en) * 1946-06-06 1951-10-02 Bell Telephone Labor Inc Telegraph storage system
US2714626A (en) * 1951-12-11 1955-08-02 Bell Telephone Labor Inc Private line intercommunicating teletypewriter system

Also Published As

Publication number Publication date
GB368369A (en) 1932-03-01
GB370500A (en) 1932-04-01
FR710472A (fr) 1931-08-24
BE375708A (enrdf_load_stackoverflow)
US2179736A (en) 1939-11-14

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