The Madison daily leader. [volume] (Madison, S.D.) 1890-current, 1895-02-18
THESE ARE LIVELY.
MESSENGERS WHO ARE NOT OF THE
SLOW PERSUASION.

AHty "eSF btaIiiphuS because 1hey w
prove Their Opportunities Many of TIN
Wall street Mercurics Have Access t.
Valuable Information.
''Of course you know those chaps d,
not live on their salaries, - said a Wal
street broker a few days ago, pointing
to one Of those speedy messengers tina
are seen daily just before the close o
the exchange flying frantically along
Che street.
Just notice the next n that comes
along, " the broker continued. 1T is 1C
II / 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 a two carat
diamond.
Its easy enough" said the broker
philosophiCally. land it cannot be help
ed. Many of these messengers 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 all open
sheet of paper. Many of these messen-
gers are frugal and quick witted fellows,
who arc ready to take advantage of op-
portunities as quick as q fash. So far
as know, they do nothing absolutely
dishonest, although in many cases such
q thing would be possible.
VERY 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 II 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 a messenger for a firm
like that Of Conner g. Co. or Cammack
to make money. All they have to do is
to follow their opportunities. Go over
to h 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 REINFORCED by a new arrival. He
rushed up to the railing and shouted
frantically to a young broker on the
floor whom / happened to know. A
whispered consultation took place, and
then the broker Owed into the melee
and began to bid Oh a stock until he Sc
cured the proper amount, when he
emerged flush and perspiring.
Its pretty hot work in there, isn't
it?" l asked.
Il 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." I in
quired.
Hes a chap that works for the firm
of - &c Co., was the reply. Hes
q shrewd boy, too, and it is seldom that
he is wrong on the market.
Perhaps he has exceptional oppor-
tunities, i suggested.
Il 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. I
got my start In the same way, and, in
fact, a great percentage of the brokers
III the street were once messengers of
one kind or another"
asked an ola hrrkor xrhO b,,J ~~oy-,
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 h 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 out in q 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 / went into belmont
co.'s for dinner, and sat down at a table
opposite "A young man whom l recog-
nlzed as a messenger for a prominent
Wall street Spectator. Iwould be will
ing to take an oath that his salary is not
over SD a week. Yet there he sat, with
diamonds OIL his fingers and in his shirt
front, citing pate de foie gras as though
he had lived upon it all his life. I sup
pose he had made "a 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 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 a deal with SO.
Most of them, however, will not touch
anything below 100 shares.