The news and herald. (Winnsboro, S.C.) 1877-1900, 1879-01-18
Will STREET. FLYERS.
From the Ne,o YorE Indicator. I

But llttle IS known or what arc
termed Wall Street Flyers by the
outside public, or rathor by people
not familiar w ith stock operations.
Nor is it particularly desirable that
such of our readers should become
acquainted, in q practical way, at
least, with such Improbable COM
moditics. In order that our un-
itiated friends may know, theoroti-
cally, what d Wall Street Flyer is,
we will state that it is transaction
in the way Of stock speculation
often entered into by a Wall street
operator, for the obi ect Of securing
a certain sum of money out Of said
transaction, for q specific purpose,
and without encroaching upon funds
already in hand. That is, the spec-
ulator hopes to make his flyer pro-
fitable; and, if 50, he proposes to
give the result of the venture for
the object in view when the trans
action is made. If tho experiences
of the average operators of Wall
street in regard to the ultimate To-
suit Of their flyers were published
they would fill many volumes, and
afford a good deal of amusement, as
well as food for reflection for those
who havo not yet known what it is
to lose money in stock gambling.
There is nothing more common
among Wall street mon than to say
to their broker that they want to
take flyer for specific purpose;
and often, no sooner said than done.
Some customer will want to make
his wife particularly happy on going
homo in the afternoon by presenting
her with a five hundred dollar bill
to buy a camels hair shawl another
will fix his mind upon stopping ut
Tiffany & Cos, on his way homo, to
buy handsome pair of solitaire
ear"rings then, again, another will
say he intends taking home q $50
United States bond, for his wife to
lay aside for q rainy day in fact
there is scarcely al end to the vari-
GUS objects for which the proverbial
flyers referred to are indulged in.
In very many cases flyers are taken
with the Wow Of bcstowing charity.
by the presentation of any profit
which may arise, to a lone widow or
some other object equally deserving.
We would be glad to be ablo to be-.
love that such flyers arc generally
successful, but experience has
shown to the contrary and the
widow and orphan upon whom the
Wall street operator, in the good
ness of his heart tried to bestow his
charity, has in most casos been
doomed to disappointment, because
the venture taken in this behalf has
turned out loss instead of q profit.
IN such cases it would have been
better, Of course, if the broker with
good intentions had put his hand in
his pocket and contributed o cer.,
tain amount, instead of risking on
the floor.
The writer has not been without
his own experience in this respect :;
and he could relate some amusing,
though quite expensive Incidents Of
the kind which havo come home to
him: Before abiding to a few of
the many uuprofitablo flyers of 9TH
ers, which havo often been related by
parties who indulged in them, he
will content himself by referring to
the cost Of a dozen shirts, which
he undertook to pay for out of the
profits Of flyer for q special pur-
pose. A young friend who had "got
apoint came to us and said that
he wanted to buy q dozen new
shirts, romarking at the Same time
that if we would buy him hundred
Northwest common and give him
the profits on it, he was satisfied he
would be able to pay for tho shirts.
Our young friend was perfectly sim
cere, and believed in what he said,
because he happened to be in
broker s Office, whero some promi>
nent operators woro buying North
wost for rise. The result of this
flyer was that the dozen shirts, in
stead of costing eighteen or twenty
dollars, cost nine hundred AS is
often the case, a screw got loose in
the Northwest pool, and instead of
the stock going up it won't down
with run. A. broker who happened
to be passing A. T. Stewart h Co.'S
one day with his wife, said, Come, let
us 60 in here I want to buy you q
oamel's hair shawl. No sooner said
than done and the shawl was
bought for seven hundred and fifty
1Ollora Now wife eei6 thn Wall