, 1890-06-13
WALL STREET TIPSTERS.
A GLASS OF MEN WHO MANAGE TO
EXIST BY USE OF THEIR WITS

The evolution OF the Wall street tip has
been curious and interesting. Starting
years ago, in a little speck known as
private information" it has developed
into q system The system is headed by
boss tpsters and footed by ~journeymen
tipsters There are tipsteB who have
made immense fortunes. They don't call
themselves tipsters. Neither does any
body else but the %irreverent mes But
they are tipsters, or they have been. And
there are tipsters who are worse of now
fnAncially-and morally, too-than when
they began
1t is a queer business. To be a success
full tipster requires many accomplish
ments The one who travels TRANQUILITY
along the road to fortune is he who Is
well educated, talks well, dresses well,
and, above all, knows well the man to
whom he presents his tips. The business
of the tipster is to give information as to
the probable course of the price of stocks
and to secure an interest in any purchase
or sale made by the moneyed individual
to whom he imparts the information. II
the tipster is right oftener than he is
wrong, then he makes money and is re-
spected If his tips are bad oftener than
they are good, why, he is despised and
even hated, and, instead Of t~ruffles, he
lives on coffee and cakes, and is a prophet
without honor in any country.
HIS IN Raj
The tipster requires no financial CAPT
tai. Cheek is what he needs-a hard
cheek and plenty Of 1t. Whether the
cheek is natural or whether 1t is acquired
makes no difference. Many a timid,
shrinking young man has gone into Wall
street, from some cause or another, and
In a few years has cultivated a facial de-
velopment which would crack a paving
stone If 1t came in collision with n
he has gone into Wall street-and he
has staid there. No genuine. simon
pure tipster ever retired from the street,
and though they grow old they never
die. Their cheek is a barrier between
them and the old man with the scythe.
Behind the cheek there must always be
discretion. The cheek that carries with
1t the undesirable attachment known as
freshness" is of no value,
1t must be a well regulated check. a
cheek always under control and always
In readiness to respond to the call Of
duty when opportunity comes. Profess
sionally. this quality Is not known as
cheek 1t is called "a good business
presence" But 1t is cheek, just rs much
as stock speculation to the great major
ity is gambling. And the crack tipster
must also ave a well developed faculty
for explaining defeat. He must never
admit that he was wrong. That would
be fatal. He must say that somebody
else was wrong. and he must valiantly
offer to prove it. If his cheek is properly
regulated and serves him well, the dis
appointed principal will listen to him
and accept more tips from him.
Itisnot a profession that can be master
ed by books. Experience only brings
mastery. There is n certain zest about
it, a sort of fascinating uncertainty. The
young man gets what he thinks is some
private information regarding the future
of. say, Hohokus third preferred. He re-
members that a certain man once told
him that If he ever happened to hear Of
anything good to let him know. Perhaps
nobody ever told him that, and perhaps
he makes up his mind to 60 to a stranger.
Before he goes he probably sits down and
figures IN the possible profits. The
pleasures of hope are his for n few mo
ments- Then, n little bit ratified and un-
easy. he starts for the lair Of tho CAPT
talist
HOW HE PROCEEDS.
His reception is not enthusiastic; 1t Ia
not encouraging. The bloated bond
holder merely mods at him and grunts.
II think, sir" says the young man,
that l have some very good information
regarding Hohokus thirds"
You have, heyY' growls the man with
rocks well. what is it and where did
you get ity'
"Hohokus is good for an eight point
rise" answers the callow tipster, with
much confidence.
"Oh, it is. is it? Where did you find
that outY'
The tipster asks of the capitalist a
promise of secrecy and the capitalist
snorts haughtly. Then he tells how a
friend of his is a clerk in the Office Of the
president of the Hohokus railroad, and
this friend has happened to mention to
him that 1.-The old man and his friends
have been buying Hohokus thirds on
every little slump, and he has overheard
the old man advising its purchase"
The capitalist grunts and says him a
good many times. He observes that he
doesu-t take much stock in that kind Of
information. The tipster who is being
described now is u student of human
nature, and has discovered as time has
passed that this capitalist isn't such u
pre- eminent individual after all, and he
haa become so absolutely certain that
Hohokus is going up that he begins to
feel independent
"An right" he says; II only wish
had money enough to buy it myself. But
i guess can get Billy Blobbs &c buy me
some"
The capitalist hates Blobbs, and as the
tipster is about to leave he calls him
back
well" he says, IF you are so sure
I'll buy a few hundred on joint account. -
He does buy it, and Hohokus DOGS nd.
vance. Thereafter the tipster is d vel.
come guest, and he continues as such SC
long as his tips are right.
The unsuccessful tipster is n man who
would excite sympathy if 1t were not
for his unvarying confidence that he il
going TO obtain a point some time that
will put him on his feet-New York
Times
The statement is made that eighteen
tons Of steel disappear daily on the Lon.
don and Northwestern railroad through
wear and rust.
Electric Bitter 4.
This remedy is becoming so well known