Delaware State journal and statesman. [volume] (Wilmington, Del.) 1855-1870, 1861-01-04

81 sAI tcneiptndsnie OF the JOURNAL and staie,man
Interesting letter from New York.
DEoEnnER 80, 1860.
MORNING AT THE nRoKBns' BOARD, N. Y.
Dear Eckei;
| have been this morning to the
Brokers' board, As some of your renders are
uninitiated in the mysteries of this conclaye Of
the cardinals Of Pope Plutus, will explain what
it il. The Brokers of New York have formed
themselves into Club for the purpose of carry
ing on their business of huymg and selling
stocks, uninterrupted by the prcfinum pmgus.-
Each member is balloied in, aud must pay as m
entrance fee one thousand dOllnts Then he can
only remain memhes 30 long as he is able to
meet all his financial engagements. One note
suffered to go 10 protest forfeits his membership
The Board meets every morning at 10 O'Clock,
in an elegant Hall near the Exchange As no
spectator can enter the room unless invited by IA
member, and then not until permission of the
President is obtained, / am indebted to my
friend p, who obtained admission for me-
All the members have little green desks arranged
length wise in the Hall. The President and
CLERK are seated upon an elevated platform,
heavily draped with green damask. There
seems to be an exubeIance Of fun and good
feeling. For instance, when ! entered, these
merchant Princes were all singing Il popular
negro melody, and wada of paper were being
hurled in every direction, occasionally damaging
the gold spectaclss of a courtly broker or
| lighting on the bald pate of a veteran banker
Every one has non de plume, such as " Tom,
." Jack" "0ld Shucks," &c.
They are divided into +" Bulls" and Bears
A Bull" is man who having stocks to sell
wishes to get the highest prices for them Il
" Bear" on the other hand, wants to buy; so it
is for his interest to depress the market, which
he does by every trick or subterfuge Sometime
ago, a "Bear"-knowing that If he could mptd,
the sales Of certain stocks for one day, they
must accumulate so as to glut ths market, an,
consequently be sold cheap-concealed under hi
cloak cage Of huge wharf rats. Waiting there
fore, until the stock was called, he let them oos
among two OF three hundred men closely huddle,
together, the result may be imagined but no
described. Another, spirited in young cul
bear and gave him the freedom of the board
the poor beast, terrified by the uproar, lenpet
from one desk to another, bowling and Swapping
TO the infinite delight of the old fBeats."
another time, II Broker brought in an car Of coru
I'm APPLE and potato; when the stock was Gale
he arose aud said in a voice Of thunder towerip
over the uproar, "Mr. President, wish to max
an explanation" The gavel of the Presider
falls commanding silence. The man said Mt
II IFtHlueukf puluA ut lluslIhltu ny l0l
4 potato, ia laugh by the crowd, md cries put hill
/ down. the President struck with his gave I'm
said fine Mr.. II. 25 cents, land also by this GO
0 Of corn" said the member "fine him so more
= said the President land fine him 90 again." sal
Q the president. The man persisted until his fins
amounted to % dollars That probably was
e good investment for him.
. Sometimes, "Bear'' who has accumulated
e lotoi stocks, in order to deprecate their value
throwing it all into the market at once. recev
an urgent call to the door; while he is gone, Il
stock is hurried over and another called up, Il
all stocks, beginning with State and ending wi
y Bank and Railroad Stocks, come in an establish
h ed order, and man is fined who calls sto,
out of its order, The president calls the stock
:, this way; Anew York Central" up jump TWEEN
If or thirty men, each yelling to the top of his voic
L. part to buy and part TO sell. You hear col
- fused roar. One says I'll sell 80 Mt 74-3 day:
d. another, I'll sell 90 at 1910 days. Perla
ID Mt the same instant another says, I'll buy 200
I. 734--G0 days, which means will purchase u
n shares at 7Sa cents on dollar, aud pay for it
q sixty days.
s. Some South Carolina stock was offered and {
Il burst into hearty laugh, but no one bid, thoul
rs Tennessee State sold well, and when it VI
bought, the members all crowed like rooster
st some rising and Tapping their arms like Il
e game cocks.
= You must remember that these are not boy
d but real live men, men whose operations have
n vital influence on the veal and woe of our natio
= | have mingled much of late with them, l iii
G them to be generally shrewd, honest, and ntel
gent, and | think if our old Public Functionn
Il had taken his Secretary of the Treasury from Il
g Brokers' Board instead of getting Cobbed
d Georgia, our country would have been much be
;. ter of. Yours,
/, BRIIMLEY