The spirit of democracy. [volume] (Woodsfield, Ohio) 1844-1994, 1871-05-16
WALL STREET.

TIE GamAlers In: :Gold aaa Slocka
s-E3ull Fanderbllt and Bear
Drew.
Geo Alfred: Townsend Il Chicago Tribunc.]
..lThe Gold Room in. Wall etreet trans.
acts very little business in these days,
and it is difficult to make panic in re-
putable stocks. The astlarge hanl WAS
said to be in Union Pacific stock. the
Pennsylvania railroad operators buying
low ater Cakes Ames' calamity, md
then, building up the stock by assuming
control of the road, when they immedis
ately sold ont. Still, as long as stocks
promises such speedy possibilities, and
menlareI bold 10 take chances, WI all street
brokers Will find an avocatioh: Take
the brokers' office of Van Schaick 4
Co, pronounced Van Shoick ),on Broad
street, nearly opposite the Stock Ex-
changes 1t is OH the first or.street foef
"A large room, twenty five by fifty feet
in dimensions, with chairs and writing
tables beneath the street, and an autom-
attic telegraph instrument on one side,
close by reading board, where are pla-
carded all the quotations of the day
Mr. Van Schaick sits at 4 desk in this
reading part,with a window at his elbow,
enabling him to wheel in his pivot chaif
and look through the banking department,
which is partitioned off behind him. Al
theltables in front congregate the betting
principals, to whom their broker, stout.
red faced, agreeable man, with . quick
voice and ready joke, addresses suck
remarks as: -, -.
ai-Fiae day for the race r ls -. g
Ioe'sWbat race?"s oij1oe- xes e9s1ps4 -
'sThe human race - e,aaas on.
Meantime, the telegraph instrument is
counting off, on long, printed rolls. the
state of transactions just across the
street, where Mr.. Van Schaick's partner
is buying and selling at bis desk among
the screaming multitude Of privileged
ones, whosesroar can almost be heard
across thes broad, wood-paved avenue.
The price Of membership in the Stock
Exchan ye, nominally ten thousand dol,
lars, is now reduced to. four thousand
dollars, and the character of the Ex-
change has so deteriorated that it per-
nit its own rules to be broken with inn
punity,s y,sErie being dstill allowed TO bc'
bartere in there, although asecretis issue
or three million dollars Of etock was
lately made contrary to. the express pro-
vision of the board. -. '39,i's -
To Mr.. Van Schaick enters, perhaps
a.person, who says: STisis.s2i.s
Ia 81 wish you to purchase fpr. me, Van,
five thousand shares Of Lake Shore
"How much margin are you going to
!. allow me p,,ssszsssz>z ssgsssszzrsazasazs
I g"Ten per.cent" n.,9
! II want 40 per cent. beiore-I touch
it," says Mr.. Van Schaick. And the
! would be gambler goes away sorrowful-
", for he has small possessions He
: belongs to- one. Of the FIVE following
classes, probably the last:
STREET" CLASSIFICATION,
) A "bull'' is a hroker or principal who
is always pushing up securities and
stocks, and indulging in the pleasures
= of hope. Vanderbilt is the first bull in
the world. His abundant capital-now
: alleged to be nearer $4,000, 900 than
: CSC, ,Oo0,D D001bis strong, good judgment
and calm, powerful confidence are, fel,
). in that supcrstitious street like light
: house On a, treacherous coast. But, al
: though a 'sbull," he Is without heart
his faith is purely speculative, and h'
6 will let the family Of his engineer, yht
perished driving through fire., suffer aht
A [starve without remorse. Fhe "bear" il
d Wall street is he who deals in secnrit,
L and fear, and wagers against the. hope,
:, Of capital "A frequent bear is Daine
Drev1an ignorant man Of rnarvelon
k duplicity, who,is bold and worldly, and
o works by cunning and money. Any
IS kposture between getting on his knees o
d belly and standing ON church;steepl
IS is the same to Dan. Drew, so he Cal
IS make profit. Yet this maa rejeices tha
E. he is q Methodist, and compounds fol
If his SINS with that long sufering church
A "green gosling" on Wall street i
verdant character who, comee Into tn,
street with money or avarice, and &C
| cepts as valid the points given him BY
e mischievous advisers, and designing
q brokers. When he loses he be
. comes .slame duck, ,and il. afterwara
e he returns to his broker, and wishes tc
g have stock purchased for himself with
e out putting up margins, craving it OF
d the plea of his bad luck and the previ
n Gus gains his broker has made upon hi.
o misfortune, he is said to be "an ele.
I phant.",1 Z a j = u 4
! Mr.. Van Schaick says that his check.
q for transactions run from one million tt
4 one million and half of dollars day
II Multiply this by the dozens Of broker.
n at the foot OF Sub Treasury hill, ani
+ you have an inkliag Of the. extent o
|. stock transactions.