The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1879-11-23
THE BOOM In WALL STREET.
Women, an Occasional Clergyman and Many
Greonhorns Gathering Wisdom Around
the "Tickers.'
Now York World.l

The week ended in Wall street with large
additions to the ranks of the army OF specu-
lators who hover round the door OF the Stock
Exchange. Brokers offices are crowded with
ladies', and occasionally even clergyman
may be seen fleeing up and down Broad street
with as much agility rs the busy messenger
boy Many OF the spectators are new hands
at the business, and are constantly making
ludicrous mistakes, the rapid fluctuations III
many instances saving them from losses. A
gentleman went into Alderman Won Schaick's
Office the other day and seeing that Nashville
Chattanooga stock was bounding up, ordered
100 shares to be purchased. ln less than live
minutes tho stock advanced tive points, and
the purchaser was congratulag himself upon
having made $500, and he ordered the stock
sold at seventy But. said the broker. 'the
stock y only quarter stock ana you nave 81 MADE n
ordered the stock sold at once. 1t was too
late, for the o'clock gong had sounded.
The next morning the first transaction In
stock WAS eighty Two, II difference of twelve
per cent over night, and the Spectator was
compelled to take $500 more profit than he
wanted.
A large operator In brokerage house In
New street was reading yesterday morning
that the sugar crop In France was reported
to be $4,000 tons short. He Jumped up ex-
cited from his feet and ordered the purchase
OF 900 shares OF Louisville and Nashville.
The order was executed at S4la. When asked
why he had bought that stock ne said, wisely !:
"The short sugar crop In France ought to
benefit all the Southern railroads" friend
suggested that the planters would be the first
to benefit by the news. cor COURSE" replied
the Spectator, I've made q blunder; sell
my Nashville stock" The purchase at 84n
was sold at 80, and $500 profits were set down
to laundering.
The cry yesterday among the smaller fry
was: BUY anything on the ground that
Jay Gould had bought Commodore CARR
sons Missouri Pacific stock" Everybody
pitched in to try and get hundred. The
stock rose from eight to eighteen In as many
minutes. Mr.. Gould was asked TX there We're
any new developments In the road, and, shak-
ing his head, he remarked: "Not as far as |
remember" On being asked further IL he
had any more roads lin view," Mr.. Gould
twinkled at his right eye, and after few
moments hesitation, whispered: What Il
crazy turn affairs have taken" The remark
was repeated In Wall street, and everybody
said 1t was Irrelevant.
Later In the day a dispatch was received
that the plum trees were all In blossom at
Washington. The spectators all said that
this spoke well for the winter wheat crop and
began to buy the granger stocks Russell
Sage heard OF the story and was reported 10
have sold the boys large blocks OF st. Paul
and Northwest ca the information that the
receipts Of grain at Milwaukee and Chicago
promise to be light for the coming week.
There was "a rapid decline when Mr.. Sage 8
dongs got abroad The Louisville and Nash
Vile pool was reported to be buying Chesa-
peake and Ohio, which rose to 1874. 1t was
rumored that the Louisville people had
agreed to furnish the Chesapeake and Ohio
with the necessary funds to build their East
ern connection.