The times. [volume] (Richmond, Va.) 1890-1903, 1897-08-01
,..e5, Two "'sH 10
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tho voung mans pull has completely
eclipsed his ability. There nave Deen IN
stances innumerable where piohliSi,s
Young men have put all the STOCKS SUI"
during the day on the debit side OF the
ehcct and all the stocks bought on the
credit side. There was one case not d
month ago where a young graduate VI
Harvard so tangled the accounts every
night that Il required the services o,
two extra clerks to go over ms work anu
unrayel II. But he had pull. His iather
was anxious for him 10 succeed ana sent
big orders into the house where ne was
omplovcd. The firm could not prohtanly
disgrace their young apprentice so they
kent him. and hired two men 10 undo
the work that he did every day.
AFTER HE QUITS RUNNING.
The next course. having graduated
from n runner and purchasing and sales
clerk. Is that Of cashier His duties are
like those Of any cashier in a big iner-
camille o. banking house But ne re-
ceives a salary Of about $50 week ana
I'm some Of the big houses he may even
get 500 a week II he is In the street
without a pull" that is about as lar
as he will ever get. There are HUNDREDS
Of men grown gray and bald and wrinAied
in the service who have reacher the
position Of cashier who have never beeh
able TO get beyond It. They have not the
money TO buy a seat in the exchange
and unless they have a wonderful shreWd-
ness they can never earn II.
There Is a man in J. Pierpont Mongan :
office who Is an exception TO the rulc'
lie IS not a member OF the eNchahse'
hut he was "A gentleman born. and he re-
coives now r. salary Of $4,000 year
equal to that Of the President OF the
United States All he has 10 do Is 10
Jolly customers. He knows every man in
New York who is worth knowing ana ne
can talk sagoly about the value OF every
stock and bond that IS In the market
When customers come in with desire
10 speculate, he advises them 10 play the
long or the short side Of the market
according 20 his judgment. and nine times
in ten they follow his advice.
HIS BUSINESS WAS TO GUESS.
brigh. young clerk the other daY
wcs asked what his duties consisted Of
Il am here" he said quickly, Ito guess
--rat Mr. r. is thinking r"ou
that Is lust what he does Mr.. b. hur-
ries i'm from the exchange mumbltng
lncoberently about some stocks which
he has been ordered to buy or sell. Be
fore nc has reached the ticker the bright
Young clerk calls out Chicago Gas an
eighth" or burlington %. and in nearly
every case ne calls the Turn. " H'i ii'
misses It he Is nearly heart-broken ana
does not recover his spirits the rest Of the
day.
when the young college graduate has
served an apprenticeship Of year or
two he either Is taken in as n partner OF
the firm for which he is working. or
else his father buys him seat in me
Stock Exchange. and he Is left to shift
for himself.
on entering the Exchange No finds that
the initiation IS more severe than he has
ever received uTOn entering college
club or Greek letter society. Some one
will come up to him and say. Buy me
200 shares Of so and So" and before he
knows It all the other members have
swooped down upon him. and he has
bought 1000 instead Of 200 shares.
NO TIME FOR LUNCH
The future Napoleon goes to work at ?
o'clock and does not get through until
: i'm the afternoon. If trades are brisk
he has no time for lunch and cannot get
anything more than a sandwich or glass