Arizona republican., 1898-12-24
THE SHORTEST TELEGRAPH LINE
! is in the New York Stock Exchange
 and Only Fifty Fed- Long.

Probably the shortest indepecdeui. telECaI'i line in Inc world is the one
 contained within the walls of he New | York Si,Ock exchange. It is little more than fifty feet in lengI a, extending only | from the first CO the fOuILh floor Of the famcus mercy marke-, yct. it s re-f-ct | in mechanical detail, and over i. during op-.aung hours casses Q. volume Of business exceeding That of transcOnti- mental wires. This unique telegraph ] systen1 is employed solely in reporting the transactions Of Inc exchange. One terminus of the line is on the exchange fioCT. the ether is at the tcp of inc i building, fight above iHhe point to which .he elevators run, and where ncr9 but trusted employees or the tele- graph company are admitted.
 Here in two little rooms, side by side, are the offices of the New York Stock Quotation company, where record of all the exchange operations is received and is transmitted to ''tickers' in every part of Lne city almost as soon as the transactions are cOmplstd downstairs. Inside take offices are six operators, se- leotad from many hundreCS for their skill, ra.pidity and truS3WCTthineSS to carry on this confidential work NC-h- ing is left to the honesty of the oper-
 
 enter the office al. 10 in the morning un- til Inc exo1angc closes at 8 in the after noon the doors, which afford the only means Of entrance CT exit, are closed and locked. Outside, on tn stairway, tuanCs Q uniformed guard, who warns away all Would-be intruderS and keeps watch and ward over the men them selves.
 The business transacted in the office d the top of the exchange building is of peculiar kind, being made uD en- tirely Of the record of quotations and sales The method followed in doing This work is interesting as Illustrating the perfection of quick communication. There may be 10000 quotations sa1t oJI in the course of tho day, but go complete is the sysI-cm that every sale or offer $ -CpCrted in POGO offices in from i1n to thirty seconds Of the time when it takes place.
 All the business Ca 'the floor of he exchange is t.'lDs acted by verbal agree meLjc, and whel the market is brisk thGr is a, perfect fuSilade of bids and sales Fourteen official ''repo-teTs" j0t down the record Of all transactions Cn ljJ le slips, which are then rushed ever 10 the ted graph desk, a distance Of per 1aps twenty feet, and promptly placed on the wire WA1cn runs uDSeaIHS-
 At the cllher end of the line the Cpsr- ai-ors are ready to receive the message and put it on the OUtre2ching lines. When business is running in ordinary course there is no copying in the upper office, and each transmitting operator takes he message by ear as it is clicked off and puts it Cn his own wire without waiting fer the receiving operator to pass it Cl to him, so that the printing Of the quotation on tihe tape Of every i ticker in the system is practically in stantaneous with the touch Of the transmitting operator on the exchange acor. But when there is 6 rush this method cannot be followed. In that ease two receiving operators are sta toned wi,h each sender, one seated on ! either side of him. They take down | the messages as they come and pass | them on to the transmitter. He sends i them out alternately, being able to work twice as fast as the receivers. -SCSton Globe.