The Yazoo sentinel. (Yazoo City, Miss.) 1878-1916, 1891-08-13

words without having heard an articulate
When m offer is accepted the parties
make a note of the sale. AZ the same
time a man wearing a gilt-laced cap ana
occupying an elevated box beside the pits
make memorandum OF the transaction.
These men, of whom there IS one Tor eacn
nit, are the official reporters q prices.
one portion of the floor is rallied on,
apd here NAV be seen more than 100 tele-
oranh operators engaged in receiving and
\ sant;nV dispatches One man, the Of
fetal teleqrapLer. occupies q commanding
nosition and sends out, for the benent OF
/ the commercial world, actual transac-
ton the moment they are closed. II -
upon these reports that the market -
/ said to rise or fall.
4 oonanienoue position, are huge dinls
,,,,r,,, which are indicated the fluctuations
/ ~ IRE leading commodities. This Is done
bv hands. as on clock, which jerk about
4 20 RAPIDLY that no one but an expert can
learn anything from them.
Although produce to the value OF many
millions Of dollars is sold upon the board
for actual delivery. the greai bulk OF all
the business done Is OF speculative ma
ture. a buys from B wheat, or other
commodity, for future delivery. II the
price advances, and sees NJ 70 aeihai z
his goods. hemakes Q proht, which IS SCI.
tied BY paying the difference IN money l., :, y
the price declines the seller VIII Pc sne
gamer. Thus the transaction Is only
wager as to the fluctuations Of the az
ticle within given time.
Margins are certain sums, 50 much pei
bushef Of corn or tieTce Of lard, depos-
Ted by the parties to cover losses by
reason Of possible advances OF declines
When the original margin bas been sweep
away bv fuctuations the fortunate party
NAV call for an increase, which the othei
must put up If he wishes TO maintain BIZ
@The frst dav Of each month, unless i
chances 10 fall on Sunday or holiday
Is the day for settling the transactions Q
the preceding month which have no
been before closed up. The raling price
1t the close Of the preceding session
form the basis Of adjustment. These sci
Elements are made on the board. lounl
men and boys hy hitler ana tnlsnei
handing slips Of paper to others. ne ne
are in reality warehouse receipts, 1nlsi
show that the commodity IL stored a
cert sin claee and subject to the order Q
~ owner. These receipts, being negotla
BE. are handed from one 70 another an
made 10 do service many times over, unit
they come II last to the hands Of she ne
: Who are the real owners or carriers o. u u
( goods. Thus, vouchers ealing TOT ~ ,uo
: bushels Of corn may Be made % setil
differences aqgregating many Millions
Z Itie onig recently that deliveries vel
made on fhe board. Not very long As
], they were required 70 BE maze - -
/. dfderenf ofsces. Settling day theu PR
4 serte5 q Iireiv scene. Young men, ger
4 rr1fi~ deefffufe Of Goals. heu rafn'
y fhaa ran through the streets, dodge
; ~ehicfsr- darfsd into buildingz, Fauifi
a N fichfs 81 stairs. and tumbled ooN
Z. rrrin in mad endeaTor 70 deliver re
& receipts before the striking q ne (, om p,
cns Zen upon the Board q Trade Bun
II Ino. wficf marked the close Of ne DQs
g nf1s daV. Many . broken arm q en-
z. serious nf-rT has ben tnn9 hsssise