, 1880-10-30
Six Months Experience OF d
Poet in Stock Specula-
ton.
JOAQUIN Milter's Story of His Con.
f,ict with "Bu|ls" and
"Reays."
How Ho Raised Less Than 81, 900
to $1,000, But Finally
Busted"
Jay Gould n ssNew Nnpo1con," and ''the
Most Colossai Figure In tho
World"

editor 0f tho cll!cf J40l1ut'l hhEa3s'tet Ash."k
mo to write him nm article to be entitled. ~
Week In Wall Street,"
kncw nothing whatever Of Nnil Street
thcn resolved, ihwcvcr, 10 oblIgc my !
friend, went into Wall Street nj once 10 |
get tho desired Information and experience.
,Thls was six mnnths ago. l have Just got
bnck. hnvo not yet written +" line Of that
article. But llnye material enough to write
hook bigger than Mncaulay's "llfstory OF
Euu|and," know n!i l want to know nbont
Wall Street. AMI, If yn, will pardon tho
dlercssion, 1nay add that nm getting bald
headed.
Tho first thing did WIS to climb into tho
callery OF the Stock Exchange. and lonk down
Into tic den Of 1000 bulls" and "bears"
that ........
WE'RE GROWING. 11owT1Se, NoAR1Sf', AND
lIElL0W1SG
there. have bccl, tn 1lctllnnt, and have pre-
sided nj n Democratic State Convention. But
lneyer saw or heard anything like this l
said to myself, "rhis thing canuot go on
long. This thing must stop bcfutc night.
These men vii, kill themselves. This thing
will burst.-cxplotle Of It's own internal
furv." But Looked up md read tho legend
nhoye the President, "Fountled IN 174e.n asNl
then concluded that 1t would still 20 nl,.
Then went to n broker whom lsna met
at the Union Club, a1Nl told Him What l
wanted to learn. lie kindly took hold of tie
tape which continually streams ont FROM the
"tlcker," rs the little wheel Of forttinc Is
called which constantly records tho riso nft!
decline If stocks, a1d tried to explain all
about 1t. ,-..,-,
i found It impossible to get interested.
There were about o00 different MINES Ut
stocks on tho list. These were represented
by one, two, Or thrce letters, OF figures, or
some sort ot abbreviated word that could
not understand er distinguish, md was
constantly getting confused.
Around this ''tickern gathered nllH
grouped knot of eager, nervous. a'ttl n'ix-
ious men. Ten, fifteen. or twenty Mt tllno
would clutch ut tho t0pe. rs 1t streAHled OUT
with Its endless lines OF quotations, alltl NUT
ter TO themselves, ja',bcr Mt each other, swear
like pirates, drop tic tnpe, nMl dash away.
Others would dast IN, clutch the tape, swear
or chuckle, MS their fortunes went. wheel
about, give orders to their broker to t!1y
or sell, rs they propl1eslea tho futnrn Ut
the market. and SO 1t went on NJ, aay NY
from 10 till 8, when tho battle was ended by
I'm fill OF the hammer III tho Stock En-
change. ......,..
When tell you that there nro moro tl'an
1900 Of these "tickcrs," or indicnaors, you
can form soune Idea Of the magnitude Of tho
business. II VIZ give ten niGli 10 enea .llcN'
cr,'' ynu l,nye the spectncle Of 10, 6Nn stalWart
1nsn standing thorc holding up iittp tottst'
atrI,lg. waiting oll"w-ns "nI A. 'S,o'ls ,iln ,S ~, m
vi, vi Hast ,nay adj s'oS brokers'. III must live
cacll broker ut 1past !lse clerks, fiilce.nys' !;'
md messengers, which swe!l tho llst 10, MV9; ,9o
70 tlis, Mo ~ yos1 ea,' ,sa1esy ~" "n I iay" ~
totni onRaged In this gambling of
s!Utr; THAN 4 QUARTER Of 4 MILLION.
The slocklrescr is not necessarily rich
N 1n11 iiSn's n costs z. an ! st Dut "hei is
thni lint, la renu!rcs little roro thnn IN nf:
sS takes t'l tle stock to- % Wh!ci ID luys for Vol to s
Tor H. it, III Dat t,sy 10 not i"ng rc,pa,n poor i
sSnns are arc et,arW,aMs. IuWGtc their ntN price,
~ n Hail IN IN stoci;s i tfcmseIyss ami they sre
careful to hive pcMty Of nlargil, " for theil
ow1, rrotection. ~
,,of Ne b5okenI nm bound to ,sny, thst A be
science, besides, found hlll,, III Il r,te, ,
weii-rtod, wcjl.traypcd gentleman: The,
chronicle fewer cul>l,nerela! failures BY fal
1ha DC dne The s'SAfns 5 ay Of aa12 S H1s EEs1t f y
courts. ''' ''''>'
iiut 10 return to, my subject. Finding, hu
advice Of nn',o5,r wy ereksr, : ;;,rr, :, w,,.su.
,,,'t Iwl,.1,, a. ;'aa...sa !, '"n. H., ore
stock 1n tho lIst 1 which could tnsillga'ss :
IRON. tho lnass o. sUo i'Gsles Ata Gu rMl'" M |, y
Tenet's'cr because iaal nttl ~ r mrn PHI: nM !
II tic WaiaslI Itiyer l'ayc ses, M NY faths {9
fttrrow tue tield Tor cnEn IN tile s[illnE. Wn.'
my mother 1OlloWM a1ter tItppl!.E tu ct,l
after, mysc.f II thy M%,,bcr. a.s! eo;eFsA :.
grain tMt NY ~ tl!G 1lllIe hlil1HGth VI Viz NV