Savannah morning news. [volume] (Savannah) 1868-1887, 1883-02-09
LADIES IN WALL STREET.
Rufus Hatch Advises Them Not to Come
Unless They are Prepared to Lose.

hus haCch ADVISES Inem Not TO Come
Unless They are Prepared to Lose.
Nea0 York Correspondent Chicago Tribune
l questioned the Secretary of the Stock
Exchange about ladies in and around
Wall street. "Yes," he said. "there are a
good many-mOre by far than there used
to be. But they do not stay here long.
One loses all her money and retires in
tears, to be succeeded by two more flushed
with enthusiasm and ready to risk all.
we have had ladies apply here
for membership and offer to plank
down $4,000 for a ticket. But
what would a lady do in a cage of wild
animals? We couldn't have it. So they
are obliged to content themselves with
| coming to the door and doing their busi-
ness through brokers. But they generally
lose everything before they leave. / have
known exceptions, of course-oh, yes.
One woman l have in mind who made
100000, and more, too, in speculation
here in one season, and then had the good
sense and pluck to retire on ito quit
and risk no more. She was rare bird.
though, very rare bird"
Rufus Hatch said: "No woman ought
TO come down here unless she makes uD
her mind in advance to lose, and she
ought to put in as much as she is willing
to lose. Then if she makes anything she
can pass 1t to the account of her sagacity.
OF going light on some conservative line.
they rush in recklessly and get scooped.
L believe in fair play for women, but when
woman comes into Wall street she had
better stay at home and send her brother.
And just before he leaves home she had
better say; Charley, take your own
money instead of mine."
Another equally well-knOwn broker
said: Don't you mention my name. for
/ nIIn fnrR1n ,sRF Ill
men, masculine women and Womanish
men-but Think ladies In Wall street are
a nuisance. When they come to invest
their money they are courageous and ex-
press themselves as willing to take any
chances; but when they lose they totally
lack nerve, and go to pieces. Only last
month put up $1,000 in margins for
lady on an Ohio road. Well, it went
down, she couldn't hold it, and
somebody else. When she came to
see about it she was paralyzed with
grief and astOnishment. 1t was all the
money she had. She 'squealed.' as they
say in the street. She begged and cried
like child, and l actually divided the
loss with her, like fool. She took the
5000 OH and lost it somewhere else, sup
pose. knew one woman here couple of
years ago that made money. No man on
nerve, and the men became afraid to deal
with her. Her name was Mrs. Rrough. /
think. She is in State prison now for
forgery
James r, Keene, whose horses have
astonished Great Britain, and whose cor
ners have embarrassed Jay Gould, laugh
ed and said: Brokers don't like ladies for
their customers, If lady leaves her
money with a broker, and loses it. she is
very likely to take advantage of the I'M
munity of her sex and inform him that he
has got 1t himself, and mat he is a liar
ana tAlek some brokers' are so unrea-
sola9ie "a not to like this treatment"
lave women special disqualifcatiOns
for speculatingr' | asked.
eyes, undoubtedly. For instance, the
very quality of trustfulness that makes
her a faithful friend, an affectionate sister
and good wife. She can be easily i'm
posed on by any gOod-loOking man who is
a plausible talker, and made to invest in
any wild cat scheme. She is handicapped,
too, by not being able to run around the
street and talk to everybody, so her sources
of information are meagre. 1t is very diff
ficult to get a woman to sell ON rising
market or buy on a falling market.
If she holds some stock that goes
up to 105 she doesn't see why it shouldn't
go up to 1000. She is troubled with in
tuition too. She comes and bragS of her
intuitiOns that are so much better than
mans weak judgment and experience,
and tells how her intuitions never misled
her, and that she brings her intuitiOns TO
bear on the Denver and Rio Grande. on
the Chicago, Burlington and Quincy. and
gets left. Most of the women who bring
their money into the street leave it here"