Morris tribune., 1894-12-05

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 Q new arrival. He
rushed up to the railing and shouted
frantically to young broker on the
floor whom happened to know. A
whispered consultation took place, and
then the broker diyed into the melee
and began to bid on stock until he se-
cured the proper amount, when he
emerged flush and perspiring
IT'S pretty hot work in there, isn't
it," asked.
ST should say it was, " he replied,
especially when nobody wants to sell. !"
who was the young man who gave
you the order a few minutes ago?" in
quired.
Hes chap that works for the firm
of -- & Co., was the reply. He's
a shrewd boy, too, and it is seldom that
he is wrong on the market. ~
Perhaps he has exceptional oppor.
tunities, I suggested.
st suppose that is 1t. It's no business
of mine, though. He has an account
with me, and it is never overdrawn.
In fact, it is constantly increasing. I
got my start in the same way, and, in
fact, great percentage Of the brokers
in the street were once messengers OF
one kind or another. .
- I askna az, ola b..el-es s.xsLe las.d grown
gray in the street what he knew about
speculation among messengers, He said:
"It has increased wonderfully during
the last ten years. In the old days, when
speculation was heavier, it took far less
to sway the market than now. Then
the messengers speculated at their own
peril. The turns and changes were far
more quick and decided, and 1t was an
almost sure thing that the small specu-
lator would be wiped out in day or
So Not half so many men are living by
speculation in Wall street as formerly,
and many of those who dabble in the
street do so merely for the fun of it.
Consequently they do not guard their
tips as closely as in former years.
Not long ago I went into Delmori-
co.'s for dinner, and sat down at q table
opposite a young man whom ! recog-
nized as messenger for prominent
Wall street speculator. Iwould be will
ing to take an oath that his salary is not
over 81 a week. Yet there he sat, with
diamonds on his fingers and in his shirt
front, eating pate de foie gras as though
he had lived apop il all his life. ! sup
pose he had made lucky stroke on
some tip which his employer had sent
to his broker, and which he had taken
advantage Of. y
Most Of the Wall street brokers seem
to regard this sort Of speculation among
the messengers as smart" ard legiti.
mate. There are several large bucket
shops along Broad street which are re-
sorted to by messengers of low degree
WHO have tips, but no money to
plunge with. In some Of these bucket
shops you can make deal with SO.
Most of them, however, win not touch
anything below 100 shares.
There ia no messenger speculation in
this place, said Mr. Henry Clews. I
have never yet seen q messenger who
could afford it. Some Of them have
come in here with orders from reputable
firms, which have been honored BY me,
but would not allow any messenger
employed On the street to open an ac-
count with this drn. yon can depend
upon it. In fact, I do not believe all
these stories about messenger specula-
tion." 4
Several Of the messenger tribe deal
with up Town bucket shops in order to
keep their situations in Wall street
Altogether the business is 2 very inter
esting one, and to many OF those having
inside information it is vastly profit
able. New York Herald.