The Iuka vidette. (Iuka, Miss.) 1894-1912, 1894-09-13
STOCK EXCHANGE LINGO.
Meaning of Phrases Used Daily in Wa

Meaning of Phrases Used Daily In Wall
Street.
What are known as privileges are
not officially recognized by the ex-
change. Yet these privileges" form
an important part of the daily life of
some of the members of the exchange.
These privileges" are known as
puts calls" ''straddles" and
spreads" All are purchased by spec
ulators as an insurance against losses
in their operations in the market. A
put" is a contract given to receive and
pay for stock at price below the cur
rent market price for cash considera-
ton, usually one per cent. A ''call' is
a contract to deliver stock at price
above the current quotation for SINH
lar consideration. A "straddle" is a
dual privilege either to receive or de-
liver stock at price usually from two
to three per cent above or below the
market figure, the consideration being
about one per cent spread" is II
privilege in two separate contracts,
one a put" the other ''call, tho
consideration for which is usually
larger than in the other options, say
olit iidll per Ctnb. L mere are
many other terms used on the stock
exchange which may be briefly stated
and explained. ''break" in the mar
ket is serious decline caused by a
stringency in the money market or
any other similar potent factor in
stock speculations. The bear clique
attacks the market, and holders un-
able to carry the load of stocks
sell out. A marked decline in
values follows; the market thereupon
breaks down. ''Ballooning" is to work
upa stock far beyond its intrinsic worth
by favorable stories, fictitious sales, or
other cognate means. "Blocll:o A
number of shares, say five thousand
or ten Thousand, massed together
and sold or bought in lump
To buy i'm is the act of pur-
chasing stock in order to meet short
contract, or to enable one to return
stock with the expectation of selling
it at an advance. A clique is com
bination OF operators controlling vast
capital in order to expand or break
down the market. Conversions
Bonds are frequently issued with a
provision whereby they can at any mo-
ment be changed for equivalent stock;
such securities are called convertible,
and the act of substitution is styled
conversion" "Corners:" When the
market is oversold the 'sshorts" are
compelled to deliver, finding them
selves in corner "Collaterals:'
Any kind of securities given in pawn
when money is borrowed To cover"
Where stock has been sold "short'' and
the market advances, the seller buys in
order to protect himself on the day of
delivery; this is covering" ones
shorts" Differences The price at
which a stock is bargained for and the
rate on the day of delivery are usually
as the difference and occasionally
brokers pay over this money balance in
stead of furnishing the stock; but such
cases are rare. A drop" in stock is
equivalent to a break" except that it
may possibly be due to wholly natural
causes. Forcing" quotations is where
brokers wish to keep up the price of a
stock, and this is generally accom-
plished by transactions among them
selves. This is known also as ''wash-
ing" To be more explicit. ..yvasbino,,
is where one broker arranees with an
other to buy certain stock when he
offers it for sale. The bargain is fcti-
tious, and the effect. when this fact is
not detected. is to keen the stocl,
ouoted and If the nlotta,s ~, IA
soil Il 70 !. biob e,r,,,a - 81 ai:.
so. .aotu.I .sarsaa 80, ~ ~" s.,UN " oaSis
=, .aoV'one' "a'ering d
s,och Is 'ne artince employed to dou-
proving its oualitv
Long" in stocks is where an oner,-
tor is CARRYING stock for a rise 10
"loadn up is where operators Inv varu