Evening star. [volume] (Washington, D.C.) 1854-1972, 1902-04-19
LITTLE WALL STREET"
LOCAL BROKERS HAVE BEEN
VERY BUSY THIS WEEK.
Activity in the New York Market Felt
Here-A Fascinating
Game.

This has been a busy week in Little
Wall Street" The stirring scenes wit
messed in stock and financial circles in
New York have been reflected upon a prop
erly reduced scale in Washington. AS a
result of the activity some gentlemen have
gone back to smoking their old pipes and
take their lunch in their coat-tail pockets
from home, while some others are smok-
ing perfectos and lunching at high-class
places.
Little Wall Street extends from 18th to
18th street. along street, and includes the
section in which are located the offices of
stock brokers and agents of Wall street
firms and members of the New York
stock exchange. These offices, from the
humble bucket shop" which will take
your order for ten shares Of stock on a
margin of three points to the lordly broker
who deals in not less than 100 shares and
wants ten points margin at the least, have
been doing a land office business this week.
The big movement in Louisville and
Nashville and in Southern, followed by
lively trading in sugar, Locomotive pre-
ferred and c. F. and L.. sent thousands Of
orders for sales and purchases out of
caught most of the F street boys unawares.
A few wise ones claim to have foreseen
the rise or to have had tips. Some tips
did come over after the stock had got a
fair start but still in time to enable those
who caught promptly to get out with a
good profit. Then there were the usual
number of luckless ones who came trailing
in just when the tide in Southern turned
and found themselves '1ong."
Washington sends a large volume of bus
mess to New York. 1t Is about the only
form of gambling that is afforded the peo-
pie who want a little excitement. There
L.,
say, that the great majority of people go
into it as a business venture, and not from
a mere love of hazard and chance.
money is easy and regular in Washing
find their incomes limited within well de
fined bounds, there is temptation to take
these little flyers in the hope Of picking up
an easy thing here and there"
Naturally, the majority of those who
play the market know very little about it
They have not the time to follow it nor the
acquaintance Of the men who are manipu-
lating it. So, custom has grown up
among the brokers of disseminating advice
and tips from their New York connections.
First thing every morning many Of the
brokers along F street put out their daily
letter giving advice about the purchase or
sale of certain lines of stocks. Sometimes
they hit it and sometimes they don't. Peo-
pie who are engaged in business or in Of
flee frequently leave their money with the
broker with instructions to invest it when
out at another point, then go away and
leave it.
Most Of the brokers' Offices have immense
blackboards on one side of the room, ruled
with perpendicular lines. The name of the
stock, B. and 0. or st. P, or what not, is at
the top Of the column and the fluctuations
Of the price are marked down the column
during the day. In one corner Of the room
Is the ticker" a telegraph instrument
which prints on slip of white paper the
designation Of the stock and its price. For
instance, the tape comes out bearing these
words, "Bo $500 100" That means that $500
shares of B. and o. had sold for 100, and 100
Is the price Of the stock that Is marked on
the blackboard.
In front Of the blackboard are score or
so OF easy arm chairs in which the GUS
toners lounge while they watch the move
ment Of the stock. 1t is said to be very
fascinating pastime, especially if you have
big chunk OF money invested on a 10
point margin and the stock has got down
to within half point Of the margin. Cen
tlemen in this predicament are usually dis
tinguished from the other customers by
the nervous pace with which they walk up
and down the room back Of the loungers.
If you see man sitting in the front row
Of chairs with broad smile or look of
contentment, you may Sherlock Holmes his
case in one Of two ways; either he hasn't
anything on the market and therefore is
glad Of it, or he has something on the
market that Is worth more than he paid for
1t. and still Is glad Of it.