The Providence news. (Providence [R.I.]) 1891-1906, 1894-11-27
Are LIVELY.
MESSENGERS WHO ARE NOT OF THt
SLOW Persuasion.

prove Thsis Oppertunities--Srxny OF tho
Wall street Msrcurios Have Access to
valpabls Information
"Of course you know those chaps do
not live on their salaries" I" said Wall
street broker q Few days ago. pointing
10 one Of those speedy messengers that
arc 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
20 that he wears Diamonds he does
not. he is ignorant Of the business 4"
At that moment one Of the ''messen-
gers. " having performed his speedy and
mercurial duty, passed by Oh his way
back to tbs Office. Sure enough, ON the
hand with which he mopped his per-
spring face there gliStened q two cara,
diamond
"It's easy enough" T" said the broker
philosophically. "and itcannot be help
ed Many Of these messengers are CON
Adential'-tbst is, I'm the hurry of the
closing moments Of the exchange they
receive orders of the most important ma
ture that are simply written on an opsn
sheet Of paper. Many Of these messen-
gers are frugal and quick witted fellows,
who are ready 70 take advantage OF op-
portunities a. quick ss fash. So far
as 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 90 brokers they digest
them thoroughly, debate the chances Of
success and act accordingly. II they
think the order good one they rush
around TO some bucket shop and bay or
sell, according to the tenor Of the order.
That is why they wear diamonds. 1t is
an essy thing for a messenger for firm
like that Of ConnoY IL Co. or Cammack
to make money. All they have to do is
TO follow their opportunities. Go over
TO the Consolidated Exchapge, and You
will sec them"
Tho broker was right. While the
bulls were Following and the lambs
were bleating around the big railing
two or three messengers who happened
TO have nothing particular 70 do were
hanging around watching ths market
with feverish anxiety. Pretty soon they
were re-enforoed by new arrival. He
rushed up to the railing and shouted
franticaiiy to q young broker ON the
floor whom ! happened 10 know. A
whispered consultation took place, and
then the broker dived into the melee
and began 10 hid ON a stock until he se-
cured the proper amount, when no
emerged fush and perspiring.
''It's pretty hot work IN there, isn't
it?" j asked.
81 should say it was" he replied,
especially when nobody wants 10 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 - d Co.,, was the reply. He's
shrewd boy. too, and it is seldom that
he is wrong on the market W
perhaps he has exceptional oppor-
tunities." suggested.
81 suppose that is Ii. It's no business
Of mine, though. He has an account
In fact, 10 is constantly increasing.
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 asked an old broker who had grown
gray in the street what he knew about
speculation among messengers. He saidi
''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 it was an
almost sure thing that the small specu-
lator would be wiped ont in a day or
So Not half so many men are living by
speculation in Wall street as formerly,
and many Of those who dabble in tho
street do so merely for the fun of It.
Consequently they do not guard their
tips as closely as in former yGarS
mot long ago went into Delmoni-
co.'s for dinner, and sat down at table
opposite a young man whom recog-
nized as a messenger for prominent
Wall street speoulator. Iwould be will
ing 10 take an oath that his salary is not
over s15 week. Yet there he sat, with
diamonds on his fingers and in his shirt
front, eating pate de foie gras rs though
he had lived upon il all his hfa sup
pose he had made lucky stroke on
some tip which his employer had sent
TO his broker, and which ho had taken
advantage Of"
Most Of the Wall street brokers seeTn
to regard this sort Of speculation among
the messengers as ''snart" 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 those bucket
Il