My buddy Carlos and I had a rather animated discussion about the value of daily stock market numbers being included in the course of virtually all radio and television news reports. Carlos contends that they’re of value to day traders and others. I contend that supporting day trading sends the wrong message to those who might otherwise make their buying and trading decisions less often. But the question for you is this: What is the genesis of this kind of reporting? For example, did it start as a way to show off telegraph technology in the early 19th century, and subsequently radio and television, and now we just assume that these reports are something we all desperately need.
It does date back all the way to telegraphic services, and possible earlier. I believe originally there were runners in the financial districts that would make the rounds making reports at regular intervals. “Fresh News Every Minute” is a 1910 account of the telegraph ticker services in operation in New York City. It notes: