The Kalida venture. [volume] (Kalida, Ohio) 1841-1865, 1847-10-05
sToCK,JoBBING in NEW YORK.
By PETER PENCIL.
"Nothing venture, nothing win."


THERE are comparatively few people even
in New York, who know, or have the, mos,
remote idea Of, the amount o the daily trans
'ofvarious kinds that take place in Wall
street. If the truth could be arrived at, it
would appcar,I doubt not, that the opera
stlons there, in the course of year, exceed,
in their aggregate amount, those Of all other
cities Of the United States combined. This
opinion may startle some, but il will not
startle those who are in the practice of visit
ing that place, and seeing what is going for
ward among the countless capitalists, brokers,
merchants, and others, whose vocation draws
them 10 that vicinity. Nor can one who is
avister merely, from conjecture approxi-
mating 10 the truth, concerning the mnlt-
plicity and extent Of Wall street affairs, any
more than man who travels straight through
the middle. of state. can form an idea as 10
what quantity Of corn is growing upon the
whole surface. II would be necessary to
penetrate The hundreds Of Offices, both great
and small, public and private, and to see all
that is done therein, before one could begin,
as the boys say, TO estimate the amount Of
business transacted in that short street, and
its immediate vicinity, in the course Of 4
single day.
The stock operations alone would stagger
the credul,y even of the initiated, who
sheuld keep an accurate account Of the
amount changing hands from day to day,
and sum the whole at the expiration Of the
year. Many millions worth Of this species
Of property would be found TO have been
bought end sold, making some richer and
some poorer, and leaving some, but, doubt
less, very few, about the same in purse at
the end of the year, as they we're at the be-
ginning.
y If a person, standing on the steps Of the cx-
change was endowed with The faculty Of
reading the heart Of every man that passes
him, what numbers of agitated bosoms, what
hopes, what fears, what emotions of vexa-
ton, sorrow, anger, and despair, wsuld come
under review; particularly after panic
among the speculstors, and a consequent fall
OF stock!
There are a few fortunate individuals, who
owe to Wall street all they possess--having
speculated and staked high under the be-
nign influence of Fortune, while that ged-
dess was in kindly bumor; but there are
hundreds, nay, thousands, who have seen
their wealth melt away there, like snow in
sunny nook on an April morn. "Make or
brsak-neck or joint" are the notices there;
for when man once gets into the spirit Of
specializing, as this species Of gambling 10
mildly termed, he is not apt to back out till
he has made fortune, or lost what he pos
sessed--won the horse, or lost the saddle.
. The reader will see, in tho course Of this
essay, to which of these categeries belong !;
for l, too, have been afflicted with the pre-
vailing mania for s,ockjobbing, and have
shared in the hopes and fears, JOY and sor-
row, which are produced by the uncertainty
ofsuch operations, and the momentous conse-
quences which often follow in their train.--
1t is my purpose to give short sketch Of
my doings in that line of business, (now 20
much in vogue, for the amusement of those
who never 90 into Wall street, and the
benefit of such adventurous spirits as may
BIZ disposed TO try their fortune at the same
table.
iirmay not be known 10 the majority Of my
readers, that the prices of stocks in New
York, are very much influenced by the
weather; indeed, have sometimes thought
that their value, as marketable commodity
depended more on the state of the atmos-
phere than on their intrinsic WORTH have
known a snow-s,orm cause sudden fall ol
two to FIVE per cent; and an April shower,
though it lasted but an hour, more or less,
have the same effect TO the extent of one OF
two per cent. have myself suffered in my
speculations by change of weather; and
the only fortunate bit ever made, ascribe
entirely TO the oppor,une clearing up Of a
long storm.
tis really surprising what effec! the wea-
ther las upon the minds Of stock-operators.
Apparently, those enterprising fellows are
as susceptible 10 the influence Of the atmos.
phere, as poets; though in every thing else,
it must be confessed, they are as different
from the genus irritable Datum, rs Horace
calls them, as the orange-water on lady's
toilet is is from the plain, unperfnmed Crot.
on in which she laves her hands. On Q
bright sunny day their countenances wear
cheerful expression, their bossms throb will
joyful expectations Of an advance or fall in
= prices, as may happen 10 suit their purpose
and. in word, they feel richer and better
anaare prepared TO renew their operations
withincreasod spirit. Hence the expires
sion so often seen in tbs "Money Articles'
of our daily paper, "there was better feel
ing on both boards TO day;" and this sterso
typed phrase has become equivalent TO th,
announcement that the weather has becom,
exceedingly fine. Simon
In cloudy weather, on the contrary, par,ic
larly ifit rain, their faces are generally aug
men,ed longitudinally to very considerable