1 A small printing machine operated by telegraph, by which the outside world obtains reliable information as to the prices of securities and commodities dealt in upon the principal exchanges of the world. It is the broker's never-failing source of information. The results are read from a narrow strip or ribbon of paper, which automatically unwinds as needed, and, after passing between type-bearing wheels, run out into a basket set for the purpose. This ribbon is called the " tape."
The quotations appear on the "tape" in printed form, the name of each security being abbreviated. Two hundred shares of common stock of the Union Pacific Railway Co. at 110 per share, would be recorded: "2 U. P. 110." Men group about the "ticker," in the various offices, and follow the unwinding of the " tape " with keen interest, and the faster the "tape" travels, and the more audible the sound of the ticking, the greater the attention which it attracts, as it indicates increased market activity or something of importance happening.