The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1881-04-01
Words and Phrases Used by Stock
Brokers and Speculators.

Bear market-When the market is heavy
and falling and lower prices are expected, in
consequence of the efforts of the '.bears'
Bear the market. e.. operate foe decline.
A bear is naturarly 'short'' of stocks, and ex-
pecting to profit by decline.
Borrowing and leaning stocks-When par
ty has sold stock and has not bought it in by
the time delivery must be made, he 'borrows''
the stock for the purpose of making delivery,
paying the owner the market price at the time,
and agreeing to return it at the same price on
demand or at a fixed time, the lender of the q
stock paying the borrower an agreed rate of
interest on the money, or the borrower paying
the lender an agreed premium for the use Of
the stock, as the case may be- p HA
Cover, to "cover ones shorts''-WheTe stock
has been sold short and the seller buys it in to
realize his profit, or TO protect himself from
loss or to make his delivery. This is cover
ing short sales'
a call-The privilege obtained, for a consid-
Grafton, of calling for a certain number of
shares of stock at a given price, within a time
named. 7raE 9fa aaaf at1
Carrying stock-Holding stock by broker
for his customers on a margin. E4Fn tt
Clique-A combination of operators formed
for the purpose of artifcially influencing the
market by their combined operations.
Corners-When the market is oversold, the
shorts, II compelled TO denver, sometimes md
themselves in a "corner." '1t. t
Curbstone brokers--Men who are not men,
bers of any regular organization and do bust
ness upon the sidewalk. alf o. . ttf
Flyer-Is small sidewalk operation, not en-
ploying ones whole capital or not in the line Of
his ordinary operations. Hf
Lamb-A very green "outsider" who essays
stock speculation. o1p nH
Limited order An order to buy and sell
within certain fixed price, above or below
which the party giving the order does not wish
to go. f..ra--s rJ.-s .sf-Hrc4l
Margins-Where one buys or sells for specu-
lation, and deposits with his broker per cent
age of value to enable the latter to Garry
the stock and protect him against loss from
fluctuations in value. gaes aa
Milking the street.-The act of ciques or
great operators who hold certain stocks so well
in hand that they cause any fluctuations they
please. By alternately lifting and depressing
prices, they milk" the small operators and
the outside public. .-...t+ +al.f.. IL, =,
Put-To buy "put' is to obtain the right
for a consideration to deliver a stock at q GER
tain agreed price within given number OF
days. ..fi -.
Stop order-An order to sell out stock in
case it should decline to a certain price, or to
buy in short stock in case it should advance to
a certain price. A means adopted by party
"long" or ''short' of stock to limit his loss to
a certain figure. .5 s.ft..l sl.r,....,lI
Turning stocks-Consists in buying for cash
or regular way, and selling like amount of
the same stock at the same time, on 'option,"
thereby making six per cent interest and any
difference that may exist at the time between
the market price of the stock for cash and on
option; or selling for cash and buying on op-
ton, when the stock is hard to carry and the
holder. hoping for rise, does not want to ''get
OUT of it.
Twist on the shorts-A clique phrase used
where the shorts have oversold heavily, and
the market has been suddenly advanced, COM
pelling them to settle at ruinous rates; or when
stocks are withdrawn from the loan market
and made difficult to borrow except at a large
premium for their use.
Washing-Is where one broker arranges
with another to buy certain stock when he
offers it for sale. The bargain is fictitious, and
the effect when not detected, is to keep it
quoted and to afford basis for bona fide sales.
1t is not countenanced by the rules of the ex-
change, and if discovered renders members en-
gagged in it liable to the penalty of expulsion.