Sharp County record., 1881-05-05
Phrases Used in Wall Street.

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 for a
decline. A bear is naturally "short" of
stocks and expecting to profit by a de-
cline.
Borrowing and loaning stocks-When
a party has sold stock short and has not
bought it in by the time delivery must
be made, he "borrows the stock for
the purpose of making delivery, pay.
ing the owner the market price at the
time and agreeing to return it at the
same price on demand or at fixed
time, the lender of the 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.
Cover, to "cover ones shorts -
Where 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 covering
short sales"
A call-The privilege obtained, for
consideration, of calling for certain
number of shares of stock, at a given
price, within a time named.
Carrying stock-Holding stock by a
broker for his customers on a margin.
Clique-A combination of operators
formed for the purpose of artifcally in
fuencing the market by their combined
operations.
Corners When the market is over
sold, the shorts, if compelled to deliver,
sometimes find themselves in "cor-
ner."
Curbstone brokers-Men who are not
members of any regular organization
and do business mainly upon the side
walk.
Flyer-Is small side operation, not
employing ones whole capital or not in
the line of his ordinary operations.
Lamb-A very green "outsider" who
essays stock speculation.
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 60.
Margins-Where one buys or sells for
speculation, and deposits with his broker
a percentage of value to enable the lat
ter to 4" carry" the stock and protect
him against loss from fluctuations in
value.
Milking the street.-The act of cliques
or great operators who hold certain
stocks so we'll in hand that they cause
any fluctuations they please. By alter
nately listing and depressing prices they
"milk" the small operators and the
outside public.
Put-To buy "put' is to obtain the
right, for consideration, to deliver a
stock at certain agreed price within
given number of days.
Stop order-An order to sell out a
stock in case it should decline to GER
tain price, or to buy in short stock in
case it should advance to a certain
price. A means adopted by a party
long" or Short of stock to limit
his loss to certain figure.
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 buy
ing on option, when the stock is hard
to carry and the holder, hoping for a
rise, does not want to "get OUT OF 1t.
Twist on the shorts-A clique phrase
used where the shorts have overshod
heavily, and the market has been sud-
denly advanced, compelling them to
settle at ruinous rates, or when stocks
are withdrawn from the loan market
and made difficult to borrow except at
large premium for their use.
Washing is where one broker arranges
with another to buy a certain stock
when he offers it for sale. The bargain
is fictitious, and the effect, when not de-
tected, is to keep it quoted and afford
basis for bona-tide sales. 1t is not
countenanced by the rules of the Ex-
change, and if discovered renders men,
bers engaged in it liable to the penalty