Morning journal and courier., 1881-05-07
Funny Phrases,
That are Used by the Wall Street sharps
 and Flats.

Hhaf are Used by the Wall Street sharps and Flats. Bear market-When the market is heavy and falling, and lower prices are expected in consequence of the efforts of the ''bears.a Bear the market-l e., operate for de- cline. A bear is naturally ''short" of stocks and expecting to profit by decline Borrowing and loaning stocks-When A party has sold stock short and has not bought 1t In by the time delivery must be made, he ! oorrows" the stock for the purpose of mak- | Ing delivery, paying the owner the market l price at the time, and agreeing to return it at l the same price on demand or at fixed time. the lender ot the stock paying the borrower an agreed rate of interest on the money or the borrower paying the lender an agreed premium for the of the stock. as the case may be-
 Cover, to ''cover one's shorts"-Where stock has been sold short, and the seller buys It Tn to realize his profit, or to protect himself from loss, or to make his delivery. This is covering short sales.'' call-The privilege obtained for a con sideration of calling for certain number of shares of stock, at given price, within time named.
 Carrying stock-Holding stock by broker for his customers on 8 margin.
 Cique-A combination of operators formed for the purpose of artifcially influencing the market by their combined operations.
 Corner-When the market is oversold the shorts. If compelled to deliver, sometimes find themselves in .'corner."
 Curbstone brokers-Men who are not mem bers of any regular organization and do busi- ness on the sidewalk
 Flyer-Is small side operation not en- ploying one's whole capital or not in the line of his ordinary operations.
 Lamb-A very green Outsider who essays stock speculation.
 oI within certain fixed price, above or below which the party given the order does not wish to go.
 Margins-Where one buyer sells for specu lation, and deposits with his banker a per centage of value to enable the latter to Gear ry" the stock and protect him against loss from fluctuations in value
 Milking the street.-The act of cliques or great operators who hold certain stock so well in hand that they cause any fluctuations they please. By alternately lifting and de- pressing prices they milk the small ope- rators and the outside public
 Put-To buy putt is to obtain the right for consideration to deliver stock at cer- tain agreed price within given number of days.
 Stop order-An order to sell out stock in case it should decline to certain price, A means adopted by party 'long'' or ''short'' of a stock to limit his loss to a certain figure.
 
 or regular way, 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- tion, 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 advanc q, con- polling 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 certain stock when he offers it for sale. The bargain is fictitious and the effect, when not detected to keep 1t quoted and afford basis for bona fide sales. It is not countenanced by the rules of the exchange, and if discovered renders members engaged in it liable to the penalty of expul- sion.