Evening star. [volume] (Washington, D.C.) 1854-1972, 1882-07-08
STOCK sPECUIATING IN WASHING
TON.
Some Facts AbOut the Business-Its
Growth During the Last Few Years
All Classes Engaged i'm Specializing
A Talk With n Broker.

All Classes Engaged in Specializing
A Talk With n Broker.
Speculation in stocks is so common now
days that its mysteries. its hopes and disap-
pontments are familiar to all grades and con-
ditions OF life. IL is no longer the man of
wealth who invests his thousands and tens
of thousands; but the clerk the mechanic
anil the newsboy makes his modest call
and put" and invests his ten or twenty
dollars in short or long" venture The
language Of Wall street has become incor-
porated into the vernacuIar OF the people, and
Its mysteries are now open secrets. The mil
iouaires IA prospecto Jostle the miiOnaires de
j@e, so that the distinction once enjoyed by the
latter are now largely mOnOpolized by the for
mer The taste for stock speculation, like that
for tobacco and other kindred nXuries is in the
main an acquired one; but when once the potent
fascination Of the tape anu the board gets a
hold upon persons mind, it is rarely shaken
OF.
THE GROWTH OF THIS BUSINESS
pleasure. dissipation, or whatever it may be
called, in this city has been very marked during
the past few years. Two years ago there was
not an Office or a firm devoted exclusively to
this business in existence in this city. Now
there are four well equipped Offices connected
by direct wire with the New York Stock Ex-
change, and where quotations of every sale
made in New York during the day can be seen
Besides these establishments nearly every broker
and banking house in this CITY has q ticker
and special wire to New York A couple of
years ago there were only two or three ''tick-
err" or instruments where the quotations are
constantly recorded on tape, in the city, but
the business has increased TO such promotions
tht additional facilities had to be provided
Banking firms have found it necessary recently
In order To accommodate their customers to fit
up rooms adjoining their offices where quota
lions can be received.
THE TICKER"
has given place to the special wire the speciaI
operator and the blackboard. These facilities
are not only provided for stock operators, but
the same are extended to the operators in corn,
cotton and wheat So that a Spectator can
now purchase in this city not only share 80 fra-
road stock and other securities but also dabble
IN corn and other produce. The opportunities
Tor Investments of this character are now fully
on par with that of any other city. and the ex-
tension OF the business. while apparently rapid.
has been gradual and in accordance with the re-
quirnents of ale@itimate demand The methods
of conducting business in these establishments
are similar to those employed by brokers The
customer mas an opportunity of seeing the state
OF the market and the condition of the stocks
almost as soon as if he were in New York and
II he wishes to buy or SELL he places the order in
the hands of the proprietor, who at once
MAKES THE PURCHASE
IN New DIRK A commission Of X of one per
cent. for buying and then Is for selling again. or
the reverse. is charged. and under these condi-
nons operations are carried on during the day
In some places no smaller order than $50 is
taken, while in others the purchaser can invest
SO. Most of the operations are made on a
''niargIn, and this enables the investor to deal
In large amounts with a small Dercentage of
of
and the man with a limited income may be seen
seated side by side gazing on the figures on the
blackboard and making out their orders for
short or long purchases. This diversity in the
Character OF the spectators in stocks is very
strikiilI, and STAR reporter who sat looking
idly at the board in one of these offices and SIN
dying the faces of the absorbed investors could
not but help noticing the difference
WHAT A BROKER SAID.
Turning to we-known broker who seemed
70 have some moments of leisure the reporter
asked who were the patrons of these places.
That Is hardly a question that can be an
swered Off-hand," was the reply THE stock
spectators IN this city include all classes. and
are constantly changing. The old faces disap-
pear and new otfes come on the scene"
Well. l should think that there would be
some classes more largely represented than
others, urged the reporter
vi course that Is the case in certain sense {"
sa the broker, and IsuppOse that members
Oh Congress constitute a large number of the
regular customers. 1t used to be that stock
speculation was almost entirely confined to
tntsfn. and daily SIT ok quotations were first re-
ceised IN The city for their benefit But the
business has out crown congressional PATRON
age; ana while mesn'prs of Congress and Sem
attfs Stiil speculate; the clerks in the deDart-
ments. business men and even ladies are con-
staht customers You would be surprised at
the amount OF orders that 20 daily from this CITY
20 New York"
DEPARTMENT CLERKS AS SPECTATORS
Il should think that clerks in the depart
merits would lind il rather Il fficult to attend to
such matters during the day. SAID the reporter
'oh, well they manage to do it. by giving
their Orders the night before and then running
out ioT a few minutes during the day To keen
track of the market. Ii doesn't take lone Won
know ~"
Habe the conversation was going on the smell
WHICH tie board seemed TO exerc So upon the
IoaGAes vi the Spectators was broken and a
DuzZ at conversation arose IN regard to the fin
turt 'f"yF-iarn's- Presently t.ie door opened
alda young man came in. ev.d ..At.y from one
Oh the departments. and nU,t,l u j.. 10 the proup
VITO " 'io.n ne seemed to be- ell acqua nted he
asked how the market WIS .-onr
''lUD lad better huv snort; EVERYTHING is
tumpiiHS to-day f'~ 3he General chorus
Is th@t -: -.zi j.e youuy man with a
iaIish well. "a ~ nat I viii -n the other
N"!- nave q. y. noticed tLat a. 80, Won fell
lows say That the market y .of.. ur,. way il is
sure To 90 tHe other
ne tben went e." ne t;a.g aaE ma e. ont an
erier iOr cetts.ff -fp.,. bis Jur5 -. being
based on a prospective ,,,.vztuc-.
LUCKY INvssEuExt
mat yonnr man s.,i,i ti,,' broker lis a
CLERK IN ore ri the departments AMI Dy careful
infe-tmtl is ~ has accumua rd ,li { - Il larn,
sum oi mone! hat he Will lose IL all some ,iay
They al d. ty tieOreei" he exclaimed after
iookin" al RE nr'rt he * not -,,.s, IL, lose il
to-day. WY TIE took he Just lou at mas AL
seS's ""'ie up 'hfee i'on-. aut ,lIi hiS invest
'h'.i' u VII pay hBI very aa4t-at..aie''
me fortunate Speculrtoi. however r9j left
the oiiice ana uaie~s tis-'rr was o tumble, no
Would KNOW of nis -coos. I"fEti1a L.!.r ~ tine
DAY While money u mali. j. ais, lst and
so the uniucky ones ,iraa o7.; after 81. y n 10 and
others take their places ve g-nu.i,f v:t4 fold
shtt great many wpuJ--t. WtIy s+sf- ,,a .,ns;-
ness on 1th street AM "a .- ucg los: iiFl,-; are
very fond OF stock specu!atioH unt indulge in
1t extensively.
Fhe Luray Excar-iua
To the t'iItoE # rHE LvEviS-. -r.....