The Cape Girardeau Democrat. (Cape Girardeau, Mo.) 1876-1909, 1896-11-07
STOCK EXCHANGE LINGO.
MeaninS OF Phrases Used Daily in Wall

MeaniuS @. Phrases Used Daily in Wall
Street.
What are known As privileges" are
not officially recognized by the ex-
change. Yet these privileges" form
an important part of the daily life of
some Of the members Of the exchange.
These privileges" are known as
puts" calls" "~Straddles" and
spreads. All are purchased by spec
ulatorS Il an insurance acainS; losses
in their operations in the market. \
|. put" is contract given to receive and
pay for stock at 4 price below the cur
rent market price for cash conSidera-
ton, usually Il per cent. ! cali is
4 contract to deliver stock ~ Il price
above the current quotation for 4 SINH
lar consideration. \ "StradGle" IS a
dual privilege either 10 receive or de-
liver stock n a price usually from two
TO three per cent. above or below the
market figure. the consideration being
about Il per cent. \ spread" Is 4
privilege in two separate contracts.
mt a put" the other 4 call" the
consideration for which IS usually
larger than in the other options. say
one and 4 half per cent. There are
many other terms used on the stock
exchange which may be briefly stated
and explained. y break in the mar
kct i 4 serious decline caused by n
Stringency in the money market or
any other similar potent factor in
stock >pCculatiorS. The bear clique
attacks the market. and holders nm
able to carry the load Of stocks
sell oUt \ marked decline in
values follows: the market thcreup0u
breaks down. "Ballooning' IS To work
upa stock far beyond its intrinsic worth
by favorable stories. fictitious sales, or
other coEnate means. Block" A.
number OF shares, say five thousand
or ten thousand, masScd together
and sold or bought in a lump.
To buy in" is the act of pur-
chasing stock in order to meet Il short
contract. or to enable one to return
stock with the expectation of selling
it NJ an advance. \ clique" i = COM
biHation OF operator, CONTROLLING vast
capital in o-dc- Ia SXp"ni or break
down the market. "ConyerajouS:'
Bonds are frequently isSue5 With q
provision whereby they Fan ut any lao
ment be changed for equivalent stock;
such securities are called convertible,
and the act of substitution i styled
conversion" Corners" When the
market Is ovcrsoId the shorts" are
compelled e deliver. finding them
selves in a corner" "CEoltateralS:"
Any kind of securities given III pawn
when money is borrowed II cover"
Nhcr, stock has been sold short and
the market advances. IL" seller buy in
order To n~atcct himself 81 The day of
delivery: ,hi, is covering" ones
shorts" -'Difcrcnccs:' The price 1T
which 4 stock is barga;nci for and the
rate on the day of delivery are usually
not the same: the variation is known
rs the difference" and occasionally
brokers pay over this MONEY balance in
stead Of furnishing the stock: bat such
eases are rare. \ drop" in Il stock is
equivalent tc Il "brcaG, except that it
may possibly be due IL wholly natural
causes. Forcing quotations is where
brokers wish to keep np the price of Il
stock, and Ills i Generally accom-
pliShet by TRANSACTIONS among them
selves. This Is known also as wash
ing To be more explicit. washing"
is where one broker oranges with an
other to buy a certain stock when he
offers it for sale. tn, bargain IS iicti-
tiouS. and the cffect. when this fact *
not detected. i to keep the stock
quoted. and. if the pio.trr> on: and
sell it to Il high fgur,, u Afford basis
or actual transactions. watering 4
stock is the a%rti!icc employed to dou-
BILE the quantity of 4 stock without I'm
proving its quality.
Long" in stocks Is where an ODCra.
tor is carrying stock for Il ris2. 70
load" up is where o. f"ators by very
heavily. To he short" of tha market
is where an operator has snlG stock
which is not vet actually il his pos-
session. Milking the street." The
act of cliqucs or Great operators who
hold certain stocks 50 well in hand
that they may cause any t!uctultions
they please. and by Alternately lifting
and depressing the price Of the shares.
take all the loatinr money in the
market. This Is al>pinowa a, shear
ing the lambs" : point Is theory
or a fact regarding stocks OF which
one bases a speculation. The market
is of when prices have fallen, either
in a week, a day or wen an afternoon.
\ pool" is the stock and money con
tributed by a clique to carry through a
corner To unload" is to sell ont Il
stock which has been carried for some
time. There are other phrases in the
stock exchange vocabulary, but the
foregoing are those most used in the
daily routine.-Harper's Weekly.