The Savannah morning news., 1902-07-27

few days, go into it when the money
they stake is needed for the necessa-
ries of life for themselves and their
families. The result of the failure in
the latetr instance is pitiable. To the
broker it is nerve-racking.
In all probability said one trader
of experience, the broker, knowing
the woman's position, has discouraged
her in speculation only to be told by
her that he is selfish, that he is reserv-
ing for himself or some friend in
greater favor the great profits which
might be hers if she were given the
opportunity to make purchases at the
proper time. Or. perhaps, he believes
there is a promising opening and gives
her the tip confidently. expecting that
it will be a money maker. and then
finds that the stock he had recon-
mended is on the decline with little
prospect of immediate recuperation.
Imagine yourself in the brokers' posi-
ton; it's enough to drive one to desper-
alton"
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
willing enough to trust her funds to the
hands of brokers-and willing enough
to rant, privately and publicly as WE'LL
when brokers are unable to give her
length of time.
One Example.
An example of the ignorance of wo-
men regarding stock speculation and
the harm that often results from their
lack of knowledge on this subject, is
represented in the following story which
a Broadway broker relates as the ac-
tual experience of his firm:
"a certain woman bought 100 shares
of stock on margin the price of the
stock was less than $40 per share.) She
one day notified the brokerage house
with whom she was carrying it that
she would pay the balance due on the
stock and take it up. There was an
unavoidable delay in the delivery of
the stock OF perhaps twenty-four hours.
I'm that twenty-four hours this wo-
man 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 men
tioning the fact to some one gave the
impression that she had quite a 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 brok-
erage house which she was unable to
procure, even with the assistance of her
attorney. Had not the rumor reached
the brokers' ears in time and the
whole thing been explained to the
parties who had heard it, irrepara BILE
damage might have been done. The
majority of New York Stock Exchange
for this very reason, that their ignor-
ance of the subject often leads to end
less trouble and misunderstanding.
A Costly Experience.
A veteran member of one of the old
est stock brokerage firms in New
York told the reporter that his firm al
ways had been opposed to dealing with
women, because 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, 1 guess not
Personally, however" he continued. II
believe that, while ordinary woman is
laughable, pitiable spectacle when she
dabbles in stock trading, / knew of a
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 in
teresting and costly experience with
women of this kind not long ago. He
told me about it, for although 1t was
on him he decided that it was too
good to keep.
HE opened up on Broadway near
Twenty third street bucket shop and
made bid particularly for women's
trade. The women came, too, in per-
feet hordes. My sporty friend said it
was easy money'-just like taking
and gloated over prospects.
He explained to me later that ne
fixed up the Office like a regular bucket
shop. He made arrangements to get
his quotations 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 programme, be-
cause the telephone wire terminated al
some point in the side of the building
few feet from the phone, and he
would ring his own phone bell by
touching a convenient button.
but the strangest thing about II
all is that my old friend went broke
Lost money on the game of his own
manipulation right along. The womer
who traded with him were onto every
trick and won steadily. You know
that can be done, even from bucket
shop, for a time at least. But 1t takes
infinite knowledge of the business.
MY friend concluded that his pa.
irons had this knowledge, and theil
sayings surely did indicate that they
were not fools at all. Looking into the
future and sizing up his patrons pref
ty carefully he decided that they would
be shrewd enough to quit as soon as
the tide began to turn, and so he go
| out of it as quickly as possible.
THAT, l might say, was about thu
only time / ever heard of any number
of women being successful as stool
| traders. Down in this part Of towl
we have seen many women go int
the brokerage establishments where
their trading is permitted (and, l an
sorry to say. in some places, encour
aged and even bid for,) and lose bis
sums, comparatively speaking. Lately
however. most of these firms that hith
erto solicited women traders have giveI
up the practice"
Woman's View.
Many of those women who have beer
in the habit of trading in certain board
brokers' houses and who recently hav,
been denied further privileges in tn,
| quoted above are highly indignant. One
of them, referring to the letter men
| toned which she had received, said
"Are not brokers' offices as a rule fl
| places for self-respecting business wo
men to frequent? And, if so, why not
I want to know as Aunt Jemim;