The San Francisco call., 1899-05-14
Q 90 Q Q 81 . Q . 9 Q Q 90 o0 90 Q o . . 90

the girls call them. occasionally fail to
show. up, yet the stupid girls will go on
trusting others.
In the Midlands and northern counties
there are female bookmakers who, of
course, get easier access to women than
men, and even TO children, who are thus
early initiated into courses which end in
ruin Clandestine betting houses exist
in large numbers. Some years ago the
police were anxious to raid one particu-
lar house, but the keeper of tit was a
beer shop-was not to be caught. One
day a funeral drew up at the door, and
the undeftakers merry mon went in to
have drink. OF course, they excited no
suspicion, but when they had seen as
much as they wanted TO they threw off
their grapes and weepers and announced
themselves as detectives.
Gam milling on the Stock Exchange.
When he reaches the Stock Exchange
Rouge ct Noir' declares that its morals
are pretty much on a par with its man
ners. He holds that if brokers confined
themselves to legitimate business, viz
the purchase, sale or transfer of stocks
there would not be much to complain of
But these legitimate transactions are
comparatively so infrequent that they
could easily be managed by one-tenth o
the brokers belonging to the Stock EX-
change. so they encourage speculation
TOR the sake OF the commission. which is,
in fact, their sheet anchor, though this
important item, apparently insignificant,
is usually not taken into account by the
per cent, but as ii is charged on the
whole amount of stock nominally bought
1t always comes to sum which. al the
very start of the transaction, nuts the
speculator at disadvantage; before he
can begin to think of a profit the stock
must have risen one-eighth to ever the
commission. Suppose he buys 1000
Brighton AS. the commission will be
95; the stock must go up one-quarter per
cent to yield him poor profit of G5.
Supposing he carries over at the end of
fortnight IA tp ho
added to the commission. so that the
speculation begins to look rather un-
profitable. But while he is slowly bleed
ing to death brokers and jobbers are fat
tening on his blood.
Seeing that brokers live and thrive by
the gambling frenzy which has smitten
and encourage it, which they conscien-
tiously do.
Woe to the client who listens to them,
cries this modern jeremiah.
Ignorance of Brokers.
The brokers knowing no more than
move-if they did they would make a
million or two in a fortnight and retire
are as incapable. of giving reliable ad-
vice as they are of predicting the wealth
er for the next week, and therefore what
ever. stock they recommend you to bull
or bear the best course the speculator
For his guess-and the brokers only
guess, or perhaps do worse-may be Just
as good as the brokers'.
"A broker with whom l had many deal
ings once urged me TO bear Claras, as in
Stock Exchange slang Caledonian Rail-
way deferred ordinary stock is called;
they are now at 10S.' he said, they cannot
possibly go any higher. they must fall
resisted for long time. but eventually
yielded to his importantly, telling him
that it was entirely on his advice that /
entered into the speculation, and instruct
ed him 10 sell 5000 Claras. In the evening
l l looked at the Standard. and found to my
disgust that they had that very day gone