The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1897-07-23

Hanover The exchange is made and
afterward the boys meet and each
takes back his own checks. Yet. with
all this prOmiscuous trading, y is very
seldom that 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 awav
VIII throw uD his hand and say, I
have you for 100 Lake Shore Each iots
down the number of shares and the
price on slips of paper which they hold
in their hands, and go on TO other deals
Afterward all these transactions are
checked by comparison in the offices.
The boy receives q list of all the stocks
that have been bought during the day
He goes to the office OF the first seller
and calls cut, Hundred Lake Shore, 104.
If that corresponds with the memoir
andum in the Office. the bool1keeper
Will answer, All right and the boy
goes on to the next office. If the fig
ures do not agree, the brokers settle
the matter between themselves.
After this very likely the broker
viii be ready to close for the day and
the boy will be sent to the safe de-
post vault with all the securities in
the office. He walks along ahead of
his employer, with thousands Of dollars
in his satchel and feeling the full
weight of the responsibility involved in
such a 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 adj
dressing envelopes Or running errands.
Still there is plenty of variety and ex-
element, and the boys soon become
imbued with the feverish energy of
their employers Responsibility makes
them alert and trustworthy. and as a
class they may be said to be excep-
ticnally bright and honest"
The brightest spot in the calendar of
the Wall street boy is Christmas. It
is the custom OF the street to give each
employee a present at that time, and
a popular boy will often receive $40
or S25, though his weekly pay may not
be more than 81 or IS. The possibilities
OF such a sum to be spent just as one
likes every boy viii appreciate.
What becomes of all these boys? Do
they ever become brokers with offices
of their own and boys 70 do their run
questions which 7 put to Mr.. Henry
Clews, who has been in Wall street for
20 years and knows its ms and outs
as well as any man.
"Often and often" said Mr.. Ciews,
lin fact many of the best known men
in Wall street, have served their time
in the very Offices where they are now
chiefs. If a boy does his work well,
he is gradually intrusted with the daily
accounts. Later he becomes assistant
bookkeeper and so rises through book
keeper 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 fail;
but / am speaking of the boy who
is fitted 10 rise. If he comes W
through the Office ne learns to deal
with men. 10 know them. and he has
every detail of the business at his fin
ger tips. He is therefore much better
equipped than his employers son, who
comes into the Office from college. often
with little taste for and no knowledge
OF actual business conditions" Horace
Greeley said many years ago that the
best newspaper man was the boy who
slept on newspapers and ate ink. IT
may even more truly be said that the
brightest Wall street broker is the
boy who has jumped 10 the click of