Dummy stockholder. One who holds (in whose name is made out and stands) stock which in fact
belongs to another.
It is a common practise for large owners of stocks to have their stocks made out in the names of
clerks and brokers. The purpose is to conceal the actual ownership.  When a broker buys stock
for a speculator the certificate is not made out in the name of the speculator. A certificate signed
(assigned) in blank (see Assigned in blank) by the original owner is received by the buying broker
from the selling broker and this certificate may on the resale of the stock be delivered to the new
buying broker, and so on, the same certificate continuing to serve indefinitely in transactions.