Cleveland morning leader. [volume] (Cleveland [Ohio]) 1854-1865, 1862-11-27
VOL. XVI.
An Hour ViII1he Money-ChanTers.

An Hour With1he MOney-Changers.
EBy Rev. Theodore L. Guyler. in the N Y. In
/ dependent-J
q Joining pleasant friend-one Of the
golden guild-I went with him yesterday,
by invitation, 10 the Board Of Brokers'
Leading me up into a singular paved
court out Of Exchange Place, and thence
through long, narrow, dark passage, he
ushered me at last into square, high
walled room, in which convenes the high
parliament Of the money-changers. It is
not necessary to announce that the meet
ings of the Board are strictly private, for
none but the initiated would surely find
their way through snch tortuous labyr-
| inth into such q cave of Aladdin.
| {" At the entrance to the Board-room is a
telegraph apparatus. The moment that a
/ sale takes place within, some interested
party hints the fact to his fellow stock job
Der in Boston, Philadelphia or Baltimore
/ Orders for purchases are flashed back over
/ the wires, and 50 millions Of dollars
change hands, every month, by lightning
/ Passing through this Yestibule and by
knot Of newsboys and apple-women, we
enter the room where the First Board
meet at half-past ten o'cIOok. AmembeFs
initiation fee is over one thousand dollars.
"As we enter we are sslutedby q Babel
Of voices, that reminds US of classroom
Of noisy college students waiting for the
advent Of the professor A group of
hundred gentlemen or more-soft-hatted,
though not soft-headed-witha an unwonted
proportion Of keen eyes and long boards,
are seated before tables, and each one talk
ing at the top Of his voice Some are
cracking jokes. Others are eating apples.
Others are shouting cut in jocular tone,
What's the price Of gold to-day 2" "Is
putty up OF putty down 2' Take your seat
Mr.. "" The Mr. " thus
brusquely addressed is the acting Presi-
dent of the Board, and for his daily few
hours labor, he receives the richly earned
salary Of FIVE thousand dollars. While the
younger and more volatile members are
indulgingin these jocularities, the veter-
ans are solemnly pondering as to how deep
they shall 90 into Delaware and Hud-.
son" or into " Erie bonds, or poor old
Virginia's insecure securities" Each
man has q stock book before him, in which
he enters the prices bid as they are sever
ally called. So accurate is the Presidents
memory that he announces each stock in
its order without once referring to the long
printed list.
At half-past ten he takes his seat in a
high-baeked chair, with miniature Amer
ican flag ct the top. BE raps to order, and
commences by calling off the Government
securities. When he reaches some active
speculative stock like "Pacifc Mail or
anew York Central Railroad" then there
ia an explosion Of excitement. Men leap
to their feet, shouting Vociferously, "That
is my bid" 81 will give seVcnty-fve-
sellers three days" "Fifty for the lot,
and score of other ordinations. Fin
gers are shaken at each other, or snapped
to arrest attention. The loudest speaker
is the best fellow. But above all this deaf
ening roar, the commanding voice of the
President is heard calling off the bids, and
announcing the names and the terms Of
the several purchasers. What is a roaring
Bedlam to US, is perfect order to him. He
distinguishes in tRinkling the different
voices, gestures, and utterances of thirty
excited men, each shouting at the top of
his voice, and with lightning like rapidity
Of speech. Occasionally dispute arises
in the noisy melee as to the priority of a
purchase. This is settled on the spot by
vote Of the Board, and from this decision
there is no appeal.
was greatly interested in watching
the different well known fnanciers as they
played their parish in the exciting game
Some sat quietly, and but seldom ventured
into the list. Others were on their feet
with arms extended, and faces almost con-
vulsed with excitement through the whole
hour Of roar and tumult. To the left of
the President sits the Ursa Moor Of the
Stock Board well known broker whom
I need not name.-He seems very quiet
now; but in former times he used 10 shake
the stock market with nod. As he lis
tens TO the various bids, the workings Of
his countenance reminded me of Brougham
in the House of Lords. We once saw him
step out from his seat and snap his finger
toward another broker, and called out
an take your lot at thirty days" "Then,"
whispered my friend, aby that simple ope-
ration, fifty thousand dollars changed
handsl" Millions Of money are tossed
back and forth every day on that tempest
Of uproar; fortunes are won or lost in
single week.
The most remarkable things TO us in the
Brokers Board we're the intensity Of ex-
citemeRt at certain times under the bid
ding for contested stOcks--and the light
ning-hke rapidity with which decisions
were made involving vast sums of money.
Decisions must be instantaneous Mems
minds play there like piston-rOds in steam
engines. The strokes cannot be counted.
To an inexperienced eye and ear there is
but the racket and roar of Bedlam; but the
initiated eye sees perfect system working
results with astonishing rspidity. do
not envy the man who is doomed to that
Babel every day, and draws his daily
bread from such hot oven Of excitement.
It requires firm and resolute religious
principle to hold fast to ones moral moor
ings when such sudden gales Oftemptation
are constantly shifting the canvas. A man
ought 70 have Bible-eonscience before he
joins the Board Of Brokers. Nor need he
become gambler after he has gone there.
sharp work,
The HOughtOn q. S. Mining Gazette of
November lst in speaking of the discovery
Of the immense masses of pure copper re-
Gently made in the mines in that vicinity,
tells this story Of a sharp piece of practice;
"PRETTT SHARP WoRK.-When the Sec
ond mass was discovered on the Mesnard
last week, there was considerable excite.
maut amOn Uat acme IF our 1ninfn- man