The New York herald., 1871-03-26
THE S TR EET.
The Money Thoroughfare Of the Metropolis
What is Done There, Who Does 1t
and How It Is Done.

There Is q street In New York that Is known to the
world more extensively than any streer that evel
was built, from the building of the Tower of Babe
10 the finishing touch the masons put on Lombard
street. This street has been, as 1t were. a huge
dragon, devourng the fortunes, regulations, hopes
and ambitions OF the millions, while the few St
Georges get the better OF the monster Or, perhaps
1t might even better be compared with big fish
that lives as all fish do) the small fry. There are
ali sorts Of small fry.
There are the men who have what Is called In
Street parlance, ''margino OF say $4,000 with
some broker, and they hope and expect to make
Their living Herewith. This margin goes up and
goes down, sometimes ahead, sometimes behind and
finally the magnetic attraction OF large capital
nbsorbs the little $4,000 This class OF men e.
quently turn up again. They borrow little money,
risk IL in the hope of retrieving their bad luck
and lose; 1T was their last possible venture,
and to use well known street expression, "Then
was gone" There are still smaller fry than these
the men who have perhaps only S400 or $500 and
VINO venture their little all the turns OF the
xet Their mode of operating is as follows:-Every
body that is anybody In New York knows where the
STOCK brokers buy and sell their tor somebody eses)
stock. 1t is in the middle OF pig room on Broad
street. In the middle Of the big room Is small
ring, and the small ring is surrounded by
big iron railing. This ring encloses the legitimate
pulls and bears While ranged all around said rail-
Ing are the Dastards OF SAID animals. That is to
say. to be inside OF the ring you must be member
of the Stock Exchange. TO be outside you must
have fifty dollars pay for the privilege of entering
the Long Room, and you can be-whoever you
are Even Brett Harte's heather Chnee could enter,
and All Sin would then meet with his peers.
Hf the heather Chinee could carry more aces and
bowers IN his sleeves than the frequenters of this
establishment carry In their heads then the bulls
and bears mad better ''vamose the ranche.n These
6mall fry, having margin small as spoken or hang
round the edge OF the rail and watch as they think,
the course OF the market. II any particular stock
books lively they signal their broker (wno is inside
tine ring), and he buys according to the extent OF
margin they may have. Should the stock go up,
Fay half per cent they sell and wait for another
Shance. Some OF them make
GOOD LIVING
FOR while, but 1t is only question OF time. These
fsmelts are almost invariably gobbled up by the
whales. There was an instance some short time
Ago of one OF the smelts (who had been a whale)
makng tremendous pile out OF almost nothing
but all went back to the old place in q few short
kweeks.
There is a curious fact about specializing, or gam
pling, call 1t which you Will, that few people know
pt Is this:-Suppose any two persons agree to toss
p coin for certain length Of time, the one to
always toss, the other always to guess 1t In
hlsputable fact that the who has to guess must
lose In the long run. 1t seems odd, but 1t has
been carefully tried ana tested by mathematI-
CLANS. ON the same principle the small
fry OF Wal street have to guess against
the big cliques who actually control the STOCK
market, therefore their eventual loss is almost
certainty. or course none OF them believe this.
There are no more confident people In the world
lieves he will-either by his own shrewdness and
caution or his good luck-become second Wander
bilt. Where does one III thousand ever even hold
nls OWN Then there are the whales OF the street
the men who have
ANY AMOUNT OF MONEY
who are the controlling p0wer-whO can, by dint OF
Ehelr great capital and knowledge of the things
That be, put stocks up or downSas may suit them.
But even these very big fish ar not the ones VINO
steadily and positively make the money and keep 1t.
There are number of men, very rich OF course,
who work on certain principle and stick to IL.
This 1t Is.
| AS general rule, about once year there is q
panic, be it big or small Stocks tumble most ope-
Eators get frightened throw their stocks overboard
and all the 'litte fish" think that the stock market
ts going to the devil. Then do these rlch fellows
6tocks pay for them outright, take the stock out or
the street. lock 1t up and think no more about
1T. Stocks may rise and fall even as does barome
Ter In stormy weather, but they have naught to do
with the market. TO dead certainty some
purchases, then they sell their stocks and pocket
Their profits. AND there are many men IN tins city
WnO possessing DOtn the Capltai ana the pluCk,
operate in this way every year.
{ The great powers that pull the strings and make
the puppets dance are rarely seen in the street.
Hhe king OF rallwayS-the veteran Commodore
shows his handsome lace and white necKtie ON Har-
lem lane every day, rather than in Wall street;
while the Prince OF Erie hasn't 'shown up" since
Ene memorable Black Friday. when he attempted to
nake speech in Broad street, and got his face
THE MAGNATEs OF THE STREET
70 be seen there are such men as-well, do you see
tnat small knot Of men standing at the corner Of
YNhn va hn vUo1l
dressed man, with an eye like q hawk and a mus.
tache like Victor Emmanuel, with his mouth shut
law law OF Of the the old Old Gommodore%'s % and one one of Of
the richest and most influential bankers con-
man. with the little side whskers, who talking and
btutterng, is W. II. Travers. almost the richest and
hndounteGly & the s. wittesi Of them all The slim
bis pocket to be picked, is Billy osgood,
with the heavy beard and the nair that wants cut
ping, Is John Garland. Leave this group and move
Eancng with gigantic strides and enormous feet is
known as the American Reindeer. He was q little
pushed by the Black Friday business, and 1t needed
I Here comes o little man with red whiskers, eyes
like q ferret and face IKE 1ox. He belongs to
the large and influential family Of Smiths, and was
F1sk's right hand man in the panic. Walking
heavily and clumslly with him is his shadow, In the
Rhape OF Carver, and coming down the street like
bteam engine, reeklng with perspiratIon, Is the
genial and very popular DIR. Field
broad shouldered, bullet headed good-natured Ar
khur Sewell, ana watching him from the other side
Of the street Is his partner, the morose and sour
looking John Bonner.
( Here come batch Of the little street brokers-all
members Of the board First comes Harry Nicholas,
WhO thinks he Is good lO0king-and so he Is; next,
kentlemaniy, precise, and very much stuck up, Eu-
gene Bogart; then AL. White. the prince OF good re-
COWS and Q good Judge of cock fighting;
And here Is handsome go0dnatured Will Fanshawe.
with him Is his partner, Master Dick Lounsberry,
Quick as steel trap and smart as chain lightning.
CLOSE behind them, his big heavy, red face bright
ever he meets man OF means, is James Curphy,
and great, big Jolly, pleasant Mumford, the crick-
eter, bflngs up the rear.
/ It's hardly worth while going to New street; the
Sold Room has been so dull OF late that gold brokers
Are not pleasant to look upon. Go down Exchange
place and one meets the heavy,
STOLID COUNfENANCES
pf the Germans; but into any of the seventy
i've bars that surround the Stock Exchange block
and you'll find them crammed jam full. Brokers are
lawfully thirsty people. Their continued thirst and