Evening star. [volume] (Washington, D.C.) 1854-1972, 1882-03-29

ers to sell short, and when the time Of settle
comes the latter find themselves caught, and
must make the best possible terms The
sharpest dealers are occasionally cornered.
and even Jay Gould himself, and also Russell
Sage recently had an experience Of this charac-
ter They were cornered on Hannibal h st. Joe,
and paid half million to settle adverse claims
Gould was more annoyed by loss Of prestige
than that Of money, much as he loves the latter;
out II only seems fair that the cup should be
p pn'sed :, 70 MS own lips He may yet be re-
most remarkable things of this kind was the at
tempt made by Daniel Drew and Others. includ-
ing, as it is said, Chauneey Vibbard, to corner
Vanderbilt on Harlem in 1854. The plan was
we'll considered, but the genius of the old COM
modore enabled him not only to escape but to
turn the tables on his enemies, whom he pun
ished in terrible manner. The cornerers lost
at least million and half, and the attempt
was never repeated. The corner forced Harlem
up 70 2oo Id . few weeks, but it returned to for
mer quotations after the commodOre's triumph.
These are the most common methods Of Walf
street dealing. and are so widely understood
that explanation is hardly necessary. Twenty
years ago they were but little in use, but as the
rage for speculation increased they came into
common parlance. 1t is now said that there are
1000 puts, calls, and straddIes sold daily. and
Russell Sage, who Is the principal dealer makes
the business highly profitable The price of q
put or ''car for thirty days on 100 shares Is
sChcaauly <loV
sTRADDLE,
which combines the above privileges. IL of
double price. ''Options" are much the same as
the above, but the term has more respectable
sound. Hence when we read OF the sale of 100
shares buyer 80, il is optional for the buyer to
call any day within the specified time for his
stock. The board limits puts, calls and options
to sixty days, which indeed is long enough for
all ordinary speculation. When man has
bought put" the question with him is, 'is
the stock going to decline?" ESQ, he will wait
till he thinks the lowest mark is reached, and
will then make the tender. II the stock, on the
other hand advances, his investment in the pur-
chase Of the privilege" is lost. If the man buys
call he waits till the stock advances. When any
one is under the full power of the Wall street
fever. he win generally continue as long as a
is found in J. Howard weiles, the gray headed
blackmailef, who was driven to such crime by
the frenzy of speculation. Such are the men
who enrich the broker; the latter makes every
effort to keep up the supply Of victims by such
advertisements as the following:
All active stocks and bonds bought and sold for cash.
or carried On satisfactory margin in large and small
ots Fractional lots from ten shares up. specially
: - ~ ~ SHARPER L Co.. Wall street.
Here is another, intended to attract business
from the country:
Important Valuable Stock Exchange information
mailed eOndentaly and inquiries answered on receipt
u 70. PRIVATE SECRETARY.
See how accommodating this man Isl
W. s. Ray buys and sells railroad and miscellaneous
securities Where parties cannot buy 100 shares take
amounts 9S from S2s up combine them and buy 100 to
amount.
One statement in the above I can readily be-
lleve: "a person with S25 has the same chance
as one with larger amount. "but what that chance
is worth In either case is the question. Person.
ally speaking / prefer to keep my $25 in my
pocket, and recommend the reader to do the
same. Here is another highly accommodating
offer:
gentlenn having ten years experience in railroad
stocks x9nd give the bsnet & his to ladies
time to realize profit; small comnliss lon.
Now is the time to realize profit" says the
advertiser; to which / reply now is the time
when wise men will attend to regular business
and close their ears to the Wall street sirens
Flooding industry will bring solid results, while
the history Of Wall street speculation may gen.
orally be summed up In that brief proverb con-
corning the fool and his money.
THE TERM "LIsTED"
simply means that stock has been put on the
catalogue which Is called of daily at the Stock
Exchange. The list is called in regular order.
but the latter win be varied on application OF
any broker on payment Of a specified fee.
Nothing can be sold on the floor except these
''hsted stocks" Hence, there is o great pres
sure among operators to get their faneies on
the list, and much opposition is frequently met
Jay Gould is SO unpopular that some OF his new
issues (Such ~ Manhattan second preferred')
are refused. The number Of Objectionable stocks
has increased rapidly of late; indeed, the ex-
change has already 30 large list that # can not
handle any more. Hence there is now an ar
rangement for the sale Of unlisted securities,
and this has at last taken regular and perma-
neDt shape There are now at least 400 stocks
Of this character, and hence a saleNoom for I'M
listed securities has been formed Nearly fifty
first mortgage railway bonds are included in the
above, and many of these are, no doubt, Of real
value. Seats il this unlisted room" are worth
from $500 to $500. and the daily proceedings
are very extensive. It has. however, no presi-
dent, and hence can not be called an organiza-
ton. The object of this omission is to avoid the
pledge required by the regular board that its
members shall not join any other stock organi-
zation. The unlisted room" is, therefore,
managed by outsiders, who make it highly prof
liable. The regular board has learned at length
that it can not suppress traffic in these irregular
securities, and hence will now attempt to con-
troll 1t. A room for unlisted stocks" Yin soon
be opened adjacent to the board, and under it's
management. This will crush the present tenn.
porary system, and give vast increase to the
power Of the regular exchange.