The Lambertville record. [volume] (Lambertville, N.J.) 1872-1968, 1890-06-18
WALL STREET TIPSTERS.
A CLASS OF MEN WHO MANAGE TO
EXIST BY USE OF THEIR WITS.

They VIII Give You Trustworthy Infor-
nation If You Promise an Interest In
Your Purchase-They Form q Queer
Element In tho 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 system. The system is headed by
boss tipsters and footed by journeymen
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 they have been. And
there are tipsters who are worse off now
financially-and morally, too-than when
they began. ..............
1t Is q queer business. To be asuccess-
full dpster 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 she 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 truffles, he
lives on coffee and cakes, and is prophet
without honor in any country.
| HIS STOCK IN TRADE.
The tipster requires no financial CAPT.
| tai. Cheek 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 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 strickland he
has staid there. No genuine, simon
pure tipster ever retired from tho street,
and though they grow old they never
| die. Their cheek is barrier between
them and the old man with the scythe.
| Behind the cheek there must always be
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 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 valantly
offer to prove it. II his cheek isproperly
regulated and serves him well, the dis
appointed principal will listen to him
and accept moro tips from him.
Itisnot q profession that can be master
ed by books. Experience only brings
mastery. There Is certain zest about
it, o sort of fascinating uncertainty. The
| young man gets what he thinks is some
| private information regarding the future
of, say, Hoholrus 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 I'M
easy, he starts for the lair of the CAPT
talist.
HOW HE PROCEEDS.
His reception Is not enthusiastic; it is
not encouraging. The bloated bond
holder merely mods at him and grunts.
II think, sir" says the young man,
"that I have some very good information
regarding Hoholzus thirds" n5lf.r
''You have, hey?" 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. nF .snN
ooh. it is, is its Where did you find
| that outY"
The tipster asks of the capitalist a
promise of secrecy and the capitalist
snorts haughtily. Then he tells how a
friend Of his is clerk In the Office Of the
president of tho Hoholrus railroad, and
this friend has happened to mention to
him that 'the old man and his friends
have been buying Hoholrus thirds on
every little slump, and he has overheard
the old man advising its purchase.pop
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 80 absolutely certain that
Hohokus is going up that he begins to
feel independent 47nTe
"All right" he says; II only wish
had money enough to buy 1t myself. But
/ guess I can get Billy Biobbs to 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 30 sure
I'll buy few hundred on joint account"
He does buy it, and Hohokus does ad-
vance. Thereafter the tipster la q well
come guest, and he continues as such so
long as his tips are right. .---s-,
The unsuccessful tipster is q man who
would excite sympathy if 1t were not
for his unvarying confidence that he is
| going to obtain point some time that
win put him on his feet--New York