The Yellowstone journal., 1894-12-18
THESE ARE LIVELY.
MESSENGERS WHO ARE NOT OF THE
SLOW PERSUASION

Wall street Mereuries Have Access To |
Valuable Information.
''Of course you know those chaps do
not live OH 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" 4" the broker continued. 1T 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 20 the Office. Sure enough, ON the
hand with which he mopped his per-
spring face there glistened a two carat
diamond
IFS easy enough, " said the broker
philosOphiCaily. and il cannot be help
ed. Many Of these messeng 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 70 take advantage of op
portunities as quick as flash. SO far
as know, they do nothing absolutely
dishonest. although in many cases such
a thing would be possible.
VERY often when they are given or
ders 10 convey to brokers they digest
them thoroughly, debate the chances of
success and act accordingly. If they
think the order a 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
al easy thing for messenger for firm
like that of Connor & Co. OF 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. I"
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 feverisn anxiety. Pretty soon they
were re-cnforced by new arrival. He
ruahsd ap 20 the railing and shouted
frAnttoally to young broker on the
dou wnom / happened to know. A
vh1qpsrod consultation took place, and
thO the broker dived into the melee
snA bexan to bid on a stock until he Sc
ous-d the proper amount, when he
emerged flush and perspirins.
IT'S pretty hot work in there, ism I
it?'' asked.
'I shCdld say it was, !" he replied,
especially when nobody wants to sell. y
who was the young man who gave
you the order few minutes ago." | in
quired.
Hes chap that works for the firm
of - & Co, ;" was the reply. Hes
a shrewd boy, TOO, and it Is seldom that
he is wrong ON the market. ~
Perhaps he has exceptional oppor'
tunities. - | suggested.
81 suppose that is it. It's no business
of mine, though. He has an account
with me, and it Is never overdrawn.
In fact, it is constantly increasing.
got my start in the same way, and, Ill
fact, great percentage Of the brokers
in the street were once messengers OF
one kind or another.
] asked an old broker who had 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 OWL
peril The turns and changes were fan
more quick and decided, and it was an
almost sure thing that the small specu
lator would be wiped out in a day OIL
so. Not hslf so many men are living by
speculation in Wall street as formerly,
and many of those who dabble in the
street do 30 merely for the fun Of it.
Consequently they do not guard theil
tips as closely az in former years.
mot long ago / went into Delmoni
SOS for dinner, andsat down at table
opposite young man whom l recog
nized a. a messenger for a prominent
Wall street speculator. Iwould be viii
ing to take an oath that his salary is mo-
over 81 week. Yet there be sat, will
diamonds ON his fingers and in his shir
front, eating pate de foie gras as though
he had lived upon il all his life i sup
pose he had made a lucky stroke OF
some tip which his employer had sen
to his broker, and which he had takei
advantage of. -
Most OF the Wall street brokers seen
N regard this sort of speculation anon.
the messengers as smart" ara legiti
mate. There are several large buckle
shops along Broad street which are re
sorted to by messengers of low degre
who have tips" but no money &
plunge with. In some Of these buckle
shops you can make a deal with $40
Most Of them, however, will not toucl
anything below 100 shares.
There is no messenger speculation Il
This nlace. 4" said Mr. Henry Clews. %