The Montgomery advertiser. [volume] (Montgomery, Ala.) 1885-1982, 1902-08-03

hope to get wealthy IN Few days, go
into it when the money they stake is
needed for the necessaries of life for
themselves and their families. The re-
suit of the failure in the latter instance
is pitiable To the broker it is nerve
racking.
I'm all probability" said one trader of
experience. the broker, knowing the
womans position, has discouraged her in
speculation only to be told by her that
he is selfish, that he is reserving for him
self or some friend in greater favor the
great profits which might be hers If she
were given the opportunity to make pur-
chases at the proper time: Or, perhaps,
he believes there is a promising opening
and gives her the tip confidently, expect
ing that it will be a money maker, and
then finds that the stock he had recon-
mended is on the decline with little pros
pect of immediate cooperation. Imagine
yourself in the brokers' position; it's
enough to drive one to desperation"
The woman speculator, according to
brokers, lacks independence. She does
not seem to be able to learn the game,
and always acts upon advice. She is will
ing enough to trust her funds to the
hands of brokers-and willing enough to
rant privately and publicly as well when
brokers are unable to give her big div
idend in an unreasonable length OF time.
One Example.
An example of the ignorance of women
regarding stock speculation and the harm
that often results from their lack of
knowledge on this subject is represented
in the following story which Broadway
broker relates as the actual experience
of his firm:
"A certain woman bought 100 shares of
stock on margin; the price of the stock
was les sthan $40 per share. She one day
notified the brokerage house with whom
she was carrying 1t that she would pay
the balance due on the stock and take 1t
up. There was an unavoidable delay in
the delivery of the stock of perhaps twen-
ty-four hours
In that twenty-four hours this woman
went to two or three brokerage houses
and to her attorney to find out whether
the delay was justified. and in talking
over the telephone or in mentioning the
fact to some one gave the impression
that she had quite lot of stock in this
brokers' hands, regarding the safety OF
which she was in doubt
From this little piece of foolishness
there started a rumor that this woman
had $4,000 in securities with the broker
age house which she was unable to pro-
cure, even with the assistance of her at
torney. Had not the rumor re he'd the
been explained to the parties who had
heard it, irreparable damage might have
been done The majority of New York
Stock Exchange houses do not want wo-
mems accounts for this very reason, that
their ignorance of the subject often leads
to endless trouble and misunderstand-
ings."
A Costly Fzgesience.
A veteran member of one of the Oldest
stock brokerage firms in New York told
the reporter that his firm always had
been opposed to dealing with women. be-
cause they "squeal'' as soon as they do
not come out "ahead of the game
Women are all right in their homes,
said this silvery haired old man, but
around brokers. I guess not. Personally,
however" he continued. II believe that,
while ordinary woman is laughable pit
liable spectacle when she dabbles in stock
trading, l know of number of women
who are sharp as tacks at it, and who
make big money.
"A friend of my younger days, who
since has turned out to be an old sport
and professional gambler. had an inter
esting and costly experience with women
of this kind not long ago He told me
about 1t, for although 1t was on him he
decided that it vas too good to keep.
He opened up on Broadway near
Twenty-third street a bucket shop, and
made a bid particularly for women's
trade. The women came. too. in perfect
hordes. My sporty friend said it was
easy mOney'-just like taking money
from a child and he laughed and goat-
ed over prospects.
He explained to me later that he fixed
I'D the Office like a regular bucket shop.
He made arrangements to get his quota
tions by telephone, and fixed one upon
the wall in plain sight When women
would begin trading he would hear the
bell ring, would run to the telephone,
take his quotations, repeat them aloud
to a boy who would write them on the
board. and rake in the shekels. That was
his program. because the telephone wire
terminated at some point in the side of
the building few feet from the phone.
and he would ring his own phone bell
by touching convenient button.
But the strangest thing about it all is
that my old friend went broke. Lost
money on the game of his own manipula-
ton right along. The women who traded
with him were onto every trick and won
steadily. You know that can be done
even from a bucket shop, for a time at
least. But it takes infinite knowledge Of
the business.
My friend concluded that his patrons
had this knowledge, and their sayings
surely did indicate that they were not
fools at all. Looking into the future and
sizing up his patrons pretty carefully he
decided that they would be shrewd
enough to quit as soon as the tide began
to turn. and so he got out of it as quick
ly as possible.
That, might say. was about the only
time I ever heard OF any number of wo-
men being successful as stock traders.
Down in this part of town We have seen
many women go into the brokerage es-
Establishments where their trading is per-
mitted land, l am sorry to say. in some
places, encouraged and even bid for, and
lose big sums, comparatively speaking.
Lately, however, most Of these firms that
hitherto solicited women traders have
given up the practice "
A Woman's View.
Many Of those women who have been
in the habit of trading in certain board
brokers' houses and who recently have
been denied further privileges in thu
manner indicated by the sample letter
quoted above are highly indignant. Ono
Of them, referring to the letter mentioned
which she had received, said:
Are not brokers offices as rule fiji
places for self-respecting business wo-
men to frequent And, if so, why not?
I want to know as Aunt Jemima says
l have passed beyond the moral infancy
far enough to know that artificial manlp-
ulation of stock values is a dishonest bus
mess. and that all who knowingly make
themselves accessory to the practice must
suffer under the highest criteria of dig
nifty