Democratic Northwest and Henry County news. [volume] (Napoleon, O. [Ohio]) 1894-1905, 1894-11-22

They Wear Diamonds Because They I'm
prove Their Opportunities-Many of the
Wall Street Mercuries Have Access to
Valuable Information.
'Of course you know those chaps do
not live on their Salaries" said Wall
street broker few days ago. pointing
to one of those speedy messengers that
are seen daily just before the close of
the exchange flying frantically along
the street.
"Just notice the next one that comes
along" the broker continued ''It is 10
to that he wears diamonds If he does
not, he is ignorant of the business. "
At that moment one of the "messen-
gers, "having performed his speedy and
mercurial duty, passed by on his way
back to the Office. Sure enough, on the
hand with which he mopped his per-
spring face there glistened two carat
diamond.
"It's easy enough" said the broker
philosophically. land it cannot be help
ed. Many of these messen gers are CON
fdential'-that is, in the hurry of the
closing moments of the exchange they
receive orders Of the most important ma
ture that are simply written on an open
sheet Of paper. Many of these messen.
gers are frugal and quick witted fellows,
who are ready to take advantage Of op-
portunities as quick as a flash. So far
as I know, they do nothing absolutely
dishonest, although in many cases such
a thing would be possible.
every often when they are given Or
ders to convey to brokers they digest
them thoroughly, debate the chances Of
success and act accordingly. If they
think the order good one they rush
around to some bucket shop and buy or
sell, according to the tenor of the order.
That is why they wear diamonds. 1t is
an easy thing for messenger for firm
like that of Connor & Co. or Cammack
to make money. All they have to do is
to follow their opportunities. Go over
to the Consolidated Exchange, and you
will see them"
The broker was right. While the
bulls were believing and the lambs
were bleating around the big railing
two or three messengers who happened
to have nothing particular to do were
hanging around watching the market
with feverish anxiety. Pretty soon they
were re-enforced by new arrival. He
rushed up to the railing and shouted
frantically to young broker on the
floor whom I happened to know. A
whispered consultation took place, and
then the broker dived into the melee
and began to bid on stock until he Sc
cured the proper amount, when hi
emerged flush and perspiring.
cts pretty hot work in there, ism
it?'' asked.
''I should say it was," he replied
especially when nobody wants to sell. ,
"Who was the young man who gave
you the order few minutes ago?' ! in
quired.
"He's chap that works for the firm
Of -- & Co., % was the reply. "He'
shrewd boy, too and it is seldom tina
he is wrong on the market. +"
Perhaps he has exceptional oppor
tunities," suggested.
81 suppose that is it. It's no bushes
Of mine, though. He has an accoun
with me, and it is never overdrawn
In fact, it is constantly increasing.
got my start in the same way, and, il
fact, great percentage of the broker
in the street were once messengers O
one kind or another"
I asked an old broker who had growl
gray in the street what he knew abou
speculation among messengers. He said
"It has increased wonderfully durin;
the last ten years. In the old days, whcl
speculation was heavier. it took far les
to sway the market than now. Thel
the messengers speculated at their owl
peril. She turns and changes were fa
more quaak and decided, and it was al
almost sure thing that tho small specu
lator would be wiped out in day O
SO. Not half so many men are living b.
speculation in Wall street as formerly
and many of those who dabble in tn
street do so merely for the fun Of it
Consequently they do not guard thei
tips as closely as in former years.
Not long ago went into Delmoni
co.'s for dinner, and sat down at a tabl
opposite young man whom l fecog
nized as a messenger for a prominen
Wall street speculator. Iwould be will
ing to take an oath that his salary is no
over SIS week. Yet there he sat, witt
diamonds on his fingers and in his shir
front, eating pate de foio gras as thougl
he had lived upon it all his life. / sup
pose he had made lucky stroke o.
some tip which his employer had sen
to his broker, and which he had take
advantage of. {"
Most Of the Wall street brokers seen
to regard this sort Of speculation amon
the messengers as smart ard legiti
mate. There are several large buckle
i, shops along Broad street which are re
sorted to by messengers Of low degre
who have "tips," but no money t
plunge with. In some Of these buckle
shops You can make deal with $40
Most of them, however, will not toucl
anything below 100 shares.
'There is no messenger speculation il
this place, said Mr.. Henry Clews. g
have never yet seen messenger VIII
could afford it. Some of them hav
come in here with orders from reputabl
firms, which have been honored by me
but would not allow any messenge
employed on the street to open an ac
cnunt xuitb tb;e 6r,,, xor con do,,an