The Somerset reporter., 1894-11-29
THESE ARE LIVELY.
MESSENGERS WHO ARE NOT OF THE
SLOW PERSUASION.

not live on their salaries. said Wall
ttreet broker "a few days ago, pointing
to one Of those speedy messengers that
ire seen daily just before the close Of
the exchange flying frantioally along
the street.
Just notice the next one that come
along, " the broker continued. at Is 10
to TINT he wears diamonds If he doc
not, he is ignorant Of the business -
AT that moment one Of the "mcssen-
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 a two carat
diamond.
Its easy enough, " said the broker
philosophically. land it cannot be help
ed. Many of THESE messengers are CON
fidential-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 OPP
portunities US quick as flash. So far
as | know, they do nothing absolutely
dishonest, although in many cases such
u thing would be possible.
Ivory often when they are given or
=. 4
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 Conner q Co. or Cammacl,
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
We're bleating around the big railing
two or three messengers who happened
to have nothing particular 10 do We're
hanging around watching the market
with fevorieh anxiety. Pretty soon they
were re-eufdrecd by "a new arrival. He
rushed up to the railing and shouted
frantically to "a young broker ON the
floor whom l 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 he
emerged flush and perspiring.
Its pretty hot work in there, ism t
it," l asked.
II 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.
Hes chap that works for the firm
of - q 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 oyerdrawn.
In fact, it is constantly increasing. |
got my start in the same way and, in
fact, IA great percentage of the brokers
i'll 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;
ut 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 speculatod at their own
peril. The turns and changes We're far
more quick and decided, and it 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 i'll Wall street as formerly,
and many of those who dabble i'll 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 l went into belmont
cos for dinner, and sat down at table
opposite young man whom | recog
Wall street Spectator. Iwould be will
ing to take an oath that his salary is not
over 81 } 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 upon it 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.
Most Of the Wall street brokers seem
to regard this sort of speculation among
the messengers as smart ara 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 n deal with $40.
Most of them, however, will net touch
anything below 100 shares.
There Is no messenger speculation in
this place, said Mr.. Henry Clews Il
have never yet seen a messenger who
could afford it. Some Of them have
come in here with orders from reputable
firms, which have been honured hy me,
but | would not allow any messenger
employed on the street to open an ne
count with this firm, you can depend
upon it. In fact, do not believe all
these stories about messenger speeula
ton
Several Of the messenger tribe deal
with up town bucket shops III order 10