The Elk Mountain pilot., 1881-10-27
WORDS AND, PHRASES Used By STOCK
BROKERS AND SPECTATORS.

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
decline.
Borrowing and leaning stccls-
When party has stock short and has
not bought 1t in by the time the deliv-
cry must be made, he "borrows the
stock for the purpose Of making de-
livery, paying the owner the market
price at the time, the lender OF the
stock paying the borrower an agreed
premium for the use of the stock as
the case may be. 1
Cover, to cover ones shorts -
Where stock has been sold short and
the seller buys it in to realize his prof.
its, or to protect himselffrom loss, or
to make his delivery. This is "cov-
erins short sales"
A call-the privilege obtained, for
a consideration, of calling 10. GER
tain number Of shares Of stock, at
given price, within time named.
Carrying stock-Hoiding stock by
a broker for his customers on ular-
gin.
CliQuc--A combination ofopsrators
formed for the purpose OF artifcially
influencing the market by ;,heir COM
bined operations.
CorneIs-When the .narhet S over
sold, the shorts, is compelled to de-
liver sometimes hnd themselves in !
"corner." "
Curbstone broAers-MeE who are
not members OF any regular organiza-
ton and do business mai:iy upon tho
sidewalk.
Flyer-Isa a snali side operation.
..ssnct smploYias onAs whole, capital Or
not in the line of bis ordinary opera
tions. rsl
Lamb-A very green /" outsider"
who essays stool, speculation.
Limited order-An order 10 buy
ard sell within certain fixed price,
above or below which the party giving
the order does not wish 70 go.
Msrg!ns-Where ore buys OF sells
for speculation and deposits with his
broker percentage ofFalu- TO enable
the latter to "carry' the stock and
protect him against loss ron Auctua-
tions in value.
Milking the street.-The act of eli
ques or great operators who hold cei
tain stock SO well in hand that they
cause any fluctuations they please. BY
alternately lifting and depres5ln.
prices, they "Inilk'' the small opera
tors and outside public.
Put-To buy put" IS to obtain
the right, for consideration, TO de-
liver stock at certain agreed price
within given number OF days.
Stop order-An order to sell out
stock in case it should decline to a
certain price, or to buy IN shor. stock
in case il should advance 20 a certain
price. A means adopted by a party
"long" or " short " OF stock to limit
his loss to certain figure.
Turning stocks-Conslsts in buying
for cash or regular way, and selling
like amount of the same stock 4: the
same time, on "option" thereby max
ing percent. interest, and any differ
ence that may exist at the time be-
tween the market price Of the stock
for cash and on option; or selling for
cash and buying option, when the
stock Is hard to carry and the holder,
hoDing for a rise, does not want to
get out oft.
Twist on the shorts-A clique phrase
used where the shorts have oversold
heavily, and the market has been sud
denly advanced, compelling them to
sell at ruinous rates; or when stocks
are withdrawn from the loan market
and made difficult to borrow except
at large premium for their sse.
Wsshing-Is where one broker ar
ranges with another to buy a certain
stock when he offers it for sale. The
bargain is fictitious, and the effect,
when not detected, is to keep 1t quot
ed and afford a basis for bona fide
e,1ac II &c NOT cOurtenanCed nv the