New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1881-07-24

lnsirlnountabc obstacles to it's use in money trans
e.onN. IN the first place, il not n secret means
OF communication. The operators at Central sta
IONS whose business it was to put persons i'm com
nhication might not care to listen or TO heed what
"So persons were saving if the conversation was
netWeeh ordinary Individuals but were sure TO do
not o' 1'e nancler called upon another. 1t was
J ''it "clisc IN speaking of fractions of cents
ana hke details mistakes might be easily
i I'. mat would prove ruinous. Then it.
"bei maj ing settlements. IT was good enough for
m"nts business such as the making of appoint
sr1 1T operations.
soN w, H. Pope manager of the Mutual District Mes
sanger service, told to the reporter some curious
n'c,h relative to the to which the telegraph in
S mnricn nnd the messenger boys of that and tie
spectators in the Street Mr. Pope formrrlv S had
nnm,ge OF tic Central Office of the American Com
pty, az ne now has of that of its yonng rival the
Min,ual re says the American Company EMPLOYS
S Mm'no, sou messengers in the whole city; the
cIty below Forty -sixth-st., but most Of the
ra "isohgerS OF both companies employed in the
hGom Of wall Street by brokers and bankers The
e.hpioNco not merely as carriers of written commu
nion,'ons, but IN various ways: and those In the
70 DC OF eXceptionable intelligence and aptitude
~ Is NOT uncoinmon for broker to call a boy and
Jones < Robinson, here at once" A green how hes
ltt'es' pun one of few months experience, darts
o" OK mlt no word and hunts down Brown at his
once me Exchange. or his favoric haunts. At
"anr ,i!nds mnssenger viii be called to whom
p pa r; 81 checKs VIII be given without a word
OF instruction; or he starts, makes the rounds
of the several banks on which The checks arn
ura"n' ana returns with them certified. They are
hlNo emp Dyed in making stock deliveries at an
ho!'r OF the afternoon when rapidly of motion and
puckneSS of intelligence will save the brokers TINS
trihi ing them day interest on sales The instr,I
nentS for calling messengers are put mn in any oicn
or house winch agrees to use II to the cxfont of
81 30 per month There is no rental CHARGE ~
l"ihcl1N l"i me instrument. This convenience for
secret communication bet wccn spcculators and thrr
sncrnIT," na iradS to many more persons
aiSo I" more frequent operations by old spectators
st but Cue great tcmpter to take flyer the
Street Is The Gold and Stock telegraph" ticker
II IS proha bly, the wickedcst mechanical devil in the
world and appears to be almost irresistible II isto
tls 'ic'A Whrrc. III DarroomS, restaurants, ho
every bi0&crS office il is 10 lie found every week
n o ,'c"InE lS monot9nous but sren-likc song to
eg'i ears ana p1lptating hearts and often to burst
ilg brains. II has come To he a necessary evil
DrnkerS must have 1t at their right hands, for no
matter now distant one may be from the stock Ey-
change 1t is an instantaneous and otcial record Of
lt TRANSACTIONS oi that Board hch fixes the ruling
prices OF all securities. lie must have it not ONLY for
81 ms cuStomc~s who daily gather about
IT, OF SIT where they can hear a
'"rh can ont ITS iluctuating tunes. Every caterer
Tor Tie favor of the multitude must have il not for
ms own niormaion, but for that of his guests and
lehc" ~ hoC"I>, restaurants and the like il is al
way placed nearest the bar. The philosophy Of
b"llarc IS not unli Ike that of Byron who held that
- N"A' "clhE mortal, must Sct drunk and gamblc.r
i 80" - N'.pN S9'i ana STOCK instrument near his
par on the principle that the gambler whether ne
or WINS, or Is lett Ia suspense. must drink and
the tckcIN monthly rent is gladly paid for the
custom 1t ATTRACTS
The "tIc<crs" are in tllc nriyutc Lousos of o,,I,.
the great spectators, who OF course h we them in
ihclt Offices also. The temptation which these IN
NIrnmrhi' constantly offer 10 all classes is
something extraordinarily fascinating; and they
ar" 70 De- hcd re- pou-iblc for tine Introduction of most
81 inc small spectators on margins who now inies
the NIi''l. ms company has about ! 900 nstru-
mcut> IN this city, for which they charge an annual
rental OF 500 each, thus obtaining an income of
NiDooou Tor what probably costs them 500. 900 a
Nr:l 10 MAINTAIN. Formerly il furnIshcd only the
"lHrlal hSur"s o the stock Exchange but it was
Compelled TO supply some general news in order TO
hH'hHht,S' contract was made first of
AZ with John j. Herman, of No. ~
W ail-St.. Nho manages financial news agency
ANA The Gold ana stock Company had either TO buy
"ui hl'illn lckcrS a. his first inst rumcnts
were called, or take HIM INTO the company. The
latter 'ous" vas pursued, and 10y the contract with
MI. hirrhan the Gold and Stock Company are re-
qulird 10 supply MS several hundred subscribers
among the btnNrrs and brokers of The city with the
mos approved ANA best improved instruments. The
general news supplied To Mr.. Herman by corrcspon-
the "tmkcrs' of the Gold and Stock Tcle-
aPh Company. The company itself col
lcctS no news Whatever but depends on
MI hirrnan Tor ITS information outside of the oit-
clai ngurrs of the stock Exchange. he Associated
ffcSS by contract supplies small quantity of gen
cIal news, but in Outline only. Ia tins way the ser
wee has been augmented until the " tIcNcrs may
financial news, vel. Is the only official rep IT of
the daily uHnsac uonS OF the Exchange, except that
appearing III lHE lRBUNE AID Inormng papers gen
orally.