The Laurens advertiser. (Laurens, S.C.) 1885-1973, 1885-12-02
OBSERVATION-DISCLOSURES
onsh value OF Annual transactions I'm tho
Nsv'Eork stock Exchange.

hc o"sn '"iuo OF tho annual trans
actions OF Now York stock brokers do.
nos ordinary comprehension. On Feb
rs. 1881. 2l,S03 shares of stocks on
tho regular list werc sold on tho floor
Of the Exchange. 84S, $40 shares on No
yember 22 1882, aud 3.o22, 4O7 in tho
week ending March 26, 1881. Tho
largest single sale recorded is that of
w. II. Vanderbilt to u syndicate of
American and foreign bankers and
railroad operators. Public sentiment
being decidedly ayerso to tho control
of tho Now York Central Railroad bv
single family, he, in deforsnco to If,
sold less than half his interest in it.
But what he did soil amounted to tho
enormous sum of thirty million dollars.
Ono hundred and fifty thousand shares.
Mt 12O. were sold outright. and tho OBJ
ton OF hundred thousand moro at
tho Same prioe was subsequently, taken
up by tho same purchasers. The secu-
rites daily bought and loaned arc paid
for by. checks on city banks. Tho
yearly business of tho Now York Clear
ing-houso exceeds fifty billion dollars.
and tho principal part of this is from
the transactions OF tho Now York
Stock Exchange. Tho London system
OF settlement twice month by tho
payments of differences has failed of
adoption in our ohiof money mart, and
is certainly neither so safc nor SO Judi
cious as that Of cash payments.
The methods of business in this
national monetary institution arc pro-
else. positive, and suited to its nature
At 80 A. n. the members may enter
tho Board Room; at 10 tho gavcl Of tho
presiding officer announces that it is
open for business; at 8 r. NJ, precisely,
1t is closed. A fine Of fifty dollars is
imposed for each offenso in public trad
ing before or after these hours, and
my contract thus made will not bo re-
cognizcd or enforced by tho Governing
Committco.
COLLECTED in groups, like spring
chickens in rural boarding house
Keepers hop-yard, Now York Central,
Northwestern. Milwaukee 81 st. Paul,
boing special points of attraction, no
sooner does the gavel fall than dozen
olenaing thundcr-storms break loose.
Tho air is rent by explosive cries,
shrieks, yells, boots, irrogularly rising
and falling in gust ungovcrnable,
broken only by the deep bcllowings OF
broad-ohestod sons OF Boanorges. And
thus for five long hours tho tempest
ragos, with Accomplishments of lifting
forms, hercc gestures, upliftcd hands,
tossing heads and other incxplicable
confnslons that shroud tho innocent
spectator in appalling mystery. Hero
apd there arc individuals cool and col
lectod AS II in church, but they only
throw tho anarchic uproar into moro
striking relief. "Mnd, sirs!-nad rs
March harcs!" But !hcro is wondrous
method in this madness. Each offers
tho stock he has to SELL cries it loudly.
number Of shares. price. Buyers name
tho prices and conditions they bid for
desired stocks. Hundreds arc vocifer-
ating at the samo moment; every car
Is attent to what tho owner wishes to
catch. The brokers take it all in, somo-
times buy and soil without looking at
each other. 30 familiar are they with
each othor's voices; cry out while scrib-
bling memoranda, Take 'em,"
Sold" IL bought 500 of you at 81"
and aftcrward report TO principals who
tho active tratlickers were, thus sup
plying them with data for guessing at
tho trond Of tho market. In tho Bond
Room comparative order reigns. All
arc seated. Occasionally manners arc
free, laughter loud, and jokes practical.
Tho bids and offers TO sell are intelligi-
BILE. Between bond calls tho brokers
who deal In those securities transact
business in ono corner of the Board
Room, TO which thoy descend by an
elevator. with tho stock k-brokers from
whom they receive orders. There the
voices of tho trallickers are torn into
tattered shreds Of sound, which con-
vey no more moaning to tho uneducat.
OF ear than tho gusturals of 80 many
Choctaws. At times the noiso is terri.
BILE. especially In panic,. 4I b.
Heard by participants in THO crush
ing throng, the sounds arc distinct
enough. HFiye hundred NEW York
Central1 at Sat- A." "Gake 'em,"
shouts buyer. 'One hundred Chi
cago and Northwestern at 81, cash" "
Eighty three and threo-quarters for
1O0," with shake of uplifted hand from
buyor. Sold" reioins tho seller.
"Five thousand INorthorn Pacific Pre-
ferrod1 at a, buyer 80" "I'll give al
for the lot" "Sold." Hundred [Lake
Shore1 at Z, buyer s." "Three-eigh
seller s, for 100" delaware, Lacka-
Wduhy hHu VontcIh) hhJ p"hs %
1000 vt I cash" zone hundred at g."
~ will give III for 500" Chicago.
Burlington. & Quinoy). sold tho lot." +"
"I'n give 1 E41aJ for 800" (New Jer-
sey CentraD "irll loan 200" "l'll take
100, fat" Fifty Rock Island] at
'lo3." Hundred at g." "l'll sell 500
more" "Take EN-" Give it for
500 moro" Sold" What's tho
pricep" Uake Shore). "Three-eighth
--3.". "What az" "Why, 64S." "pll
give 4 for 1000" sold the lot." Bids
are monosyllabic rs possible. Names
of stocks arc not vocalized In the To-
calities where the stocks are sold.
Brokers waste no breath In trading.
ALI offers made and accepted are bind
ing. The securities on the free list arc
not called unless asked for.
sSalos are either for cash, in which
case delivery Is made on tho Same day
sc or before 10 PM, or in tho regu~
lar way, when delivery Is made on tho
Day following. or on time, usually three,
ton, thirty, or Sixts days Moro fre"
qaently option salos arc for threo days:
when stock is cliquod they may bo for