Mineral Point tribune. (Mineral Point, Wis.) 1869-1938, 1894-08-23
TERMS ON 'cHANGE.
Technical Names Applied to Trans
actions in Stocks,

lttHulNui 4Naiuts Rppilcu W Idus
actions in Stocks,
There is probably no other business
i in which so many technical names are
employed as in the speculative, says
\ the Baltimore News. What are known
as privileges" are not officially rec
ognized by the exchange, Yet these
/ privileges" form an Important part
of the daily life of some of the mem.
beers Of the exchange These "prlvi-
leges' are known as puts" calls, :"
"straddles" and spreads" All are
! purchased by spectators rs an insur-
ance against losses in their operations
in the market. A put Is a contract
given to receive and pay for stoe': at
price below the current market price
for cash consideration, usually | per
cent.
/ A 'calf' is a contract TO deliver stock
at price below the current quotation
for Il similar consideration. A "strad-
die is a dual privilege either to receive
or deliver stock at price usually from
to 3 per cent above or below the
market figure, the consideration being
about per cent A spread" is a
| privilege in two separate contracts
one a put" the other a call" the
consideration for which Is usually
larger than in the other options, say
l IL per cent.
A break in the market is serious
decline caused by a stringency In the
money market or any other similar po-
tent factor in stock speculations. The
bear clique attacks the market, and
holders unable to carry the load u
stocks sell out. A marked decline in
values follows; the market thereupon
breaks down.
"Ballooning" is to work up stock
far beyond its intrinsic worth by fav.
orable stories, fictitious sales or other
cognate means. "Block"--a number OF
shares, say 5000 or 10000, massed to.
gether and sold or bought in lump.
To buy in" Is the act of purchasing
stock In order to meet short CON
tract, or to enable one to return stock
with the expectation of selling 1t at
an advance.
A "ellque" is combination of oper-
ators controlling vast capital In order
to expand or break down the market.
Conversion bonds are frequently is
sued with provision whereby they
can at any moment be changed for
equivalent stock; such securities are
called convertible, and the act OF sub
stitution Is styled conversion" Cor
ners:" When the market Is oversold
the "shorts" are compelled to deliver,
finding themselves in corner"
"Collaterals:" Any kind Of securities
given in pawn when money Is Dor
rowed TO cover" Where stock has
been sold short" and the market ad.
vances, the seller buys in order to pro-
tect himself on the day Of delivery;
this Ii covering" ones shorts"
Differences" The price ut which a
stock is bargained for and the rate
on the day of delivery are usually not
the same; the variation Is known as
the difference" and the occasionally
brokers pay over this money balance
instead of furnishing the stock; but
such eases are rare.
A drop" la a stock Is equivalent to
break" except that 1t may possibly
be due to wholly natural causes
Forcing" quotations Is where brokers
wish to keep up the price Of stock,
and this is generally accomplished by
| transactions among themselves. This
is known as washing" TO be more
explicit washing Is where one
broker arranges with another to buy
a certain stock when he offers II for
sale. The bargain Is fictitious, and
| the effect, when this fact Is not de-
/ tected, is to keep the stock quoted.
and, II the plottels buy and sell Ii to
high figure, TO afford basis for
actual transactions Watering a
stock is the artifice employed to dou.
Bile the quantity OF q stock without i'm
4 proving its quality.
Long" in stocks is where an opera
tor Is carrying stock for rise. TO
load up Is where operators buy very
heavily. 10 be short Of the market
is where an operator has sold stock
which is not yet actually in his pos
session.
milking the street, The act OF
cliques or great operators who hold
certain stocks so well In hand that
they may cause any fluctuations they
please, and by alternately lifting and
depressing the price OF the shares,
take all the floating money In the mar
ket. This is also known as "shearing
the lambs"
A point Is a theory or a fact re-
gardihg stocks on which one bases a
speculation. The market is off when
prices have fallen, either in a week,
day, or even an afternoon.
\ A pool is the stock and money
contributed by clique to carry
through corner" TO unload Is ID
sell out stock which has been carried
Y for some time.
When the Liver ReprImands Us.
For our neglect or IL BY INJECTING upon us sick