The Carbon advocate. [volume] (Lehighton, Pa.) 1872-1924, 1890-07-05
WALL STREET TIPSTERS.
A CLASS or MEN WHO MANAGE TO
EXIST BY USE OF THEIR WITS.

They VIII Give You Trustworthy lntor-
nation if You Promise an Interest in
Your Pnrchase-Thoy Form Queer
Element in the Exciting Life.
The evolution of the Wall street tip has
been curious and interesting Starting
years ago, in little speck known as
"private information" it has developed
into a system The system is headed by
boss tipsters and footed by iourneymen
tipsters. There are tipsters who have
made immense fortunes. They don't call
themselves tipsters. Neither does any
body else but the irreverent ones. But
they are tipsters, or tbfy have been. And
there are tipsters who are worse off now
financially and morally, too-than when
they began.
1t is a queer business. To be 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, If
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 truffies, he
lives on coffee and cakes, and is prophet
without honor in any country.
80 STOCK IN TRADE.
The tipster requires no financial CAPT
tai. Check is what he needs-a hard
cheek and plenty of it, Whether the
cheek is natural or whether it is acquired
makes no difference. Many a timid,
shrinking young man has gone into Wall
street, from some cause or another, and
in few years has cultivated facial de-
velopment which would crack q paving
stone if it came in collision with one.
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 barrier between
them and the old man with the scythe,
discretion. The cheek that carries with
it the undesirable attachment known as
freshness is of no value.
1t must be well regulated cheek, 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 it is cheek, just as much
as stock speculation to the great major
ity is gambling. And the crack tipster
must also have we'll 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 Yaliantly
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 a 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, Hohol1us third preferred. He re-
members that 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 go to stranger.
Before he goes he probably sits down and
figures on the possible profits. The
pleasures of hope are his for few mo-
ments. Then, little bit ratified and un-
easy, he starts for the lair of the capi-
talist.
HOW HE PROCEEDS.
His reception is not enthusiastic; it is
not encouraging, The bloated bond
holder merely mods at him and grunts.
81 think, sir, says the young man,
"that have some very good information
regarding Hohol1us thirds"
"You have, hey?" growls the man with
rocks. "Well, what is it and where did
Xou get it?'
"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 out?n
The tipster asks of the capitalist a
promise Of secrecy and the capitalist
snorts haughtily. Then he tells how
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 "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
doesn't take much stock in that kind of |
information. The tipster who is being
described now is student of human |
nature, and has discovered as time has |
passed that this capitalist isn't such a |
pre-eminent individual after all, and he |
has become SO absolutely certain that
is going up that he begins to
feel independent.
"All right he says; "I only wish ! |
had money enough to buy it myself. But |
guess l can get Billy Blobbs to buy me
some"
The capitalist hates Blobbs, and as the
ipster is about to leave he calls him
back.
"Well, he says, "if you are so sure
III buy few hundred on joint account"
He does buy it, and Hoholus does ad-
'ance. Thereafter the tipster is wei
'ome guest, and he continues as such so
ong as his tips are right.
The unsuccessful tipster is a man who
you'd excite sympathy If it were not
or his unYarying confidence that he is
,oing TO obtain a point some time that
vii put him ON his eet,-New York
Zines