The Savannah morning news. (Savannah, Ga.) 1900-current, 1901-06-14
WALL STREET NEWS.
How 1t Is Distributed by Tape and
Bulletin.
From Golfers Weekly

From Golfers Weekly.
Tape bulletins and newspapers-these
are the principal channels through which
flows information of what comes in and
goes out with the uncertain tide of Wall
street. Newspapers twice a day, bulle-
tins every ten minutes. tape all the time
thus the money field is irrigated with
the news
The oldest of Wall street newspapers is
printed on presses small enough to be car
ried in hatbox. These presses are kept
in glass cases. like wax flowers, or ship
models. or crown jewels, and are known
as Tickers. The Tape is issued every
business day, and five hours, 10 to 3, are
required to print each issue. When the
issue is all printed. it is as long as two
city blocks, but only as wide as postage
stamp You can't buy this newspaper on
a news stand, but it has subscribers in
every state and territory in the Union.
Its publication in Frisco, Tacoma, Jack
sonville, and intermediate points is stimuli
taneous with its appe arance in New York.
II is not a yellow journal, for it prints
only the truth. S lould it fake" or
guess, or get "bea.en" on story its
circulation would fan off instanter
Bach issue of Tie Tape contains from
5000 TO 1900 complete short stories, called
quotations, representing stock transac-
tons. Its editor is a keen-witted man
named Bameord. and you can't tell Bam-
ford a :nlng about an active or torpid
market even If you've grown gray and
bald ION the Street" His staff consists
of twenty reporters and four telegraphers.
Look sharp when you visit the Stock EN-
change and you can recognize these Tape
reporters-they are the only men on he
floor with gold braid on their caps. Each
has to report the transactions in from
five to twenty stocks, according to their
activity" Sometimes a reporter can
cover only one stock; as, for instance,
on the panic days a few weeks ago. wnen
dealings in Northern and Union PaciTtcs
were simply Overwhelming. 1t took a sin
gle reporter's entire time to keep pace
with lust one of those stocks. Ordinari-
~. however he moves from group to
group OF brokers. listening, watching,
noting.
Information Every six Seconds.
The instant a sale is made he scribbles
on a pad something about as unintelligi-
BILE as a doctors prescription, tears on
the sheet and hands il to the nearest
telegra pher An expert telegrapher-they
are all expert telegraphrs, reporters in
cluded--s stationed at each OF the four
corners of the Exchange. The same sec
ond in which a reporter hands over a
memorandum Of a sale, the operator
clicks IL off on a Morse instrument thus
transmitting it to a room at the top OF
the tower of the Produce EXchange-for
II must be remembered that the Stock
Exchange, while building it's new home,
is occupying a part OF the Produce Elk
change floor.
only two seconds of time have passed
and we now have the record of the sale
in the tower room Here nine men are
punched together at the elbows around a
T-shaped table. They are a mighty serious
lot. No talking is the rule. Here is the
silence OF a public library and the solem-
nity of a secret meeting of anarchists.
But they are merely telegraph operators
with their ears close to instruments that
chant the doings of men on Change be-
low.
Here are two instruments FOR each Of
the four operators downstairs. each mes
sage coming thus over two wires 70 two
men: so that n one receiver misses a
/ transaction, his mate has caught II and
/ there is no necessity for the operator be-
/ low 10 repeat This accounts for eight Of
| the nine men IN that colemu gang In the
/ tower. The ninth sits at "a keyboard. a
/ sort OF typewriter. and as fast as the
Z Morse receivers hand him the rpemoran-
| IA Of sales be- presses the keys OF his
! auecr-iooking typewriter and thus trans
/ mlts tho quotation from his sky-hlgh
/ room 10 the central Office VA the basement
/ Of No. rs Broadway, a block ~ 70 from
/ t.ae Exchange.
-Four seconds have pass1d two seconds