Middletown transcript., 1897-09-11

y made my way back to the Office, an
J though / was very kindly told that
didn't matter, / knew that it did.
tell you this merely to show that be
quickly absorbs the spirit of the plat
and learns to do his best for his en-
, ployer. Sometimes a runner Is n
, Warded for especially quick work, bu
that is not usual. II is 4ll in his So c
$5 a week and the satisfaction be find
in feeling himself a valuable membe
of the Office force.
"But running is not all of a stoc
boys work. Between 2.15 and
O'Clock he will perhaps be-busy certi
| flying checks. All transactions between
the brokers are. settled by checks, ant
each broker before he deposits tn
check in his own bank at the close o
the days business, sends them arount
to the bank on which they are drawn
to be certified. Checks amounting Il
thousands of dollars are placed in thl
boys hands and he must go to half {
dozen different banks with them. Ere
I quently this demands quick work, too
for there is long line of waiting boys
at each bank. The boys often work ar
interesting labor saving scheme in do.
ing this work. No / goes to the Fourth
National Bank, We'll say, with several
checks. He finds his friend. No. 2,
from neighboring s'ffice, already in
line. He don't want To wait SO he
says to No. Q: Here take my Fourth
National and give me your Hanover.
The exchange is made and afterward
the boys meet and each takes back his
own checks. Yet, with all this prom
iscuos trading, it is very seldom that a
check is lost or goes astray.
"After the exchange closes at 8
O'Clock the boy has The interesting task
of making the comparisons. All the
transactions on the floor of the ex-
change are done by memorandum. One
broker is perhaps offering Lake Shore
at 104. Another a dozen feet away
will throw up his hand and say Il have
you for 100 of Lake Shore Each jot
down the number of shares and the
price on slips which they hold in their
hands, and,go on to other deals. After
ward all these transactions are check
ed by comparison In the offices. The
boy receives list of all the stocks
that have been bought during the day.
He goes to the offices of the first seller
and calls out, Hundred Lake Shore,
104.' If that corresponds with the
memorandum in the Office the book
keeper will answer All right and the
boy goes on TO the next Office, If. the
figures do not agree, the brokers settle
the matter between themselves.
"After this very likely the broker
will be ready to close for the day, and
the boy will be sent to the safe-deposit
vault with all the securities in the Of
fee. He walks along ahead of his en-
ployer with thousands of dollars in his
satchel, and feeling the full weight of
the responsibility involved in such
task.
"Of course boys work is not all in
carrying large checks or running with
blocks of stock. He puts in part of his
time in copying slips or addressing en-
yelopes or running errands. Still,
there is plenty 'of variety and excite
ment, and the boys soon become i'm
bued with the feveIish energy of their
employers. Responsibility makes them
alert and trustworthy. and as a class
they may be said to be exceptionally
bright and hoL est.r
The brigh est spot in the calendar
of the Wall street boy is Christmas.
It is the custom of The street to give
each employe present at that time,
and q popular boy will often receive $40
to $25, though his weekly pay may not
be more than $4 or SIS. The possibil-
tiles of such sum to be spent just as
one likes every boy will appreciate.
What becomes of all these boys?
Do they ever become brokers, with Of
fees of their own, and boys to do their
their running for them? These are
questions which l quito Henry Clews,
who has been in Wall street for forty
years, and knows its ms and outs as
well as any man.
soften and Often" said Mr.. Clews. |
in fact, many of the best known men |
In Wall street have served their time
10 the very offices where they are now
chiefs. If boy does his. work well |
he is gradually intrusted with the
daily accounts. Later he becomes as
sistant bookkeeper and SO rises
throgh bookkeeper and cashier to a
place in the firm. OF course, here as
elsewhere, those who reach the top are
few indeed, compared to those who
fall; but I am speaking of the boy who
is fitted to rise. Ifhe comes up through
the Office he learns to deal with men,
70 know them, and he has every detail
'f the business at his finger tips. He
IS therefore much better equipped than
his employers son, who comes into
he Office from college, often with lit
lie taste for and no knowledge of ac-
,ual business conditional
Horace Greeley said many years ago
hat the best newspaper man was the
boy who slept on newspapers and ate
nix. It may even more truly be said
hat the brightest Wall-street broker
9 the boy who has jumped to the click
II the tape and dined of market quo
,ations.
To Birmingham and Memphis.
The SOUTHERN RAILWAY OFFERS THE BEST
ERvIcE.-Ask for your ticket via the South