The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1869-09-22


The strangest feature to a disinter>
esled observer IL the sudden transfer.
nation OF several hundreds OF WE'LL
dressed, quiet bankers, brokers, mil
lIonalres, old and young, into horde
OF yelling, screaming, over-heated, ex-
clleu lunatics; while a man with big
hammer and stentorlan tenor voice Is
apparently endeavOrlng 10 outscreech
all the rest. All you can hear Is lust
the name OF the stock called In rotation
by the big voice, and then the din be-
gins; and how anybody Is able to dis.
tIn8ulsh what anybody else Is saying,
or how In the name OF the iuries any
business can be done under such cir.
cumstanCes, Is a mystery.
Occasionally above the storm the big
tenor Will scream out something, and a
man writes 2O59S opposite New York
Central on the black board, and another
operator Mt the telegraph sends the iu-
formation simultaneously into $50 bro
kers' offices, and It Is known that New
York Central has risen or fallen, and
the bulls or bears, as the case may he,
rejoice. BY way OF adding TO the clam
Or two or three officials, with voices
like u dinner horn afflicted with de.
lirium tremens, are continually
screaming out that somebody Is want
Ell TO come out and settle up.
BABEL VOCABULARY.
A strange jargon Of unInlellIeIble
words occasionally meet The ear. aS
100 shares, sellers three, or buvers
three or short, long, 'call' and iput'
AL of which are to the Initiated.
When one believes stocks will rise, and
resorts TO all known lodges to make
them, ne Is a bull, and buys long.
On the contrary II he wants them 10
fall md uses every effort 10 deprecIate
them, he IL bear, and sells short,
Seller three 'call' means he will on
call within three days furnish the
stocks. Put 10 where one agrees 10
put up within a certain time a given
amount OF stocks or gold. Carrying
Ia where a bank advances u certain
amount OF cash on stocks or gold and
carries them over certain number OF
days for a consideration. Moneyed men
buy up stocks and those who have
agreed 10 deliver are made 10 pay, be.
cause they can't get them. All OF which
ID very simple, and these men think IL
very legitimate and dignIted busi>
ness.
No one can witness all this for the
first time without experiencing sense
OF humiliation at the undignified straits
to which the scramble after money re-
duces the modern cIVilizse, and when
he learns that hundred times more
gold is bought and sold In one day than
exists In the city, and that men are
only betting with each other upon the
price tomorrow or next day, and that
the legitimate transfer OF stocks Ia NOT
more than 80 or 40 per cent, and The
balance gambling with each other upon
Its Rise or fall, 1t Is no wonder that such
wholesale morallsts as Beecher will de i.
nounce tho whole system as a aham-
faced fraud and swindling, It Is true
that occasionally such men as Ketchum
will 'oatch 'em' mapping, and sell
fraudulent checks. Apropos OF which
! saw Graham, the chief victim of the
aristocratic scamp, at the Board TO-DAY,
This gentleman, now seedy and Rrlz.
Zled, was elected by the shrewd young
operator for over million. He still
hangs wearlly around the scene OF hIa
disaster, In hopes, probably, OF re-
deemiuR his fallen fortunes by a lucky
strike.
SUMMARY.
Notwithstanding the liabilities OF the
traffic In gold and stocks to abuse, and
the Ridiculous aspects presented to the
Inflated, they are not probably more
or other than that Of any other busi-
ness. No more men fall ut 1t than In
mercantile pursuits, manufacturing,
mining, or certainly not In speculative
enterprises OF other kinds. The thing
Is profession and requires skIll, apiI-
Iuue, industry and experience, and the
gteenhotn who ventures into 1t as he
would al iaro or petroleum, has to pay
,or ms education, ind many men never
THR BOARD OF BRoKRRs
Is an organized institution whose co6e
requires the highest posslble al iandHT,I
OF business honor and inteerltv. The
initiation fee Ia $40. 900, and ihe reguIa.
lions and laws are exceedingly strin.
gent and peremptorily enforced. Thsir
building is on Broad street, and con,
Sists Of an Immense hall on The ground
called the long room, where privHta
business and large operations are con.
Quoted between cRlls.' Above ia tha
stock room where oil the stocks which
are OF a legitimate character and value
are called twice daily. II
On the same floor Ia the department
for the sale OF government stores only.
At the side and rear, opening also on
New street. is the gold room.
| --sS-
AN exchange gets of the following
two conundrums touching one article
Of the Democratic faith: