The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1903-11-15

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the vacancy the office of Tracy Middle
ton bankers and brokers' His name was Will
ii lis ~ Hayward, and he was proud boy in
deed when he was selected out Of twenty applicants
10 be telephone clerk for the firm.
From 10 a.. until p m he stood by Tracy &
Nddletons private telephone the floor of the stock
eNchange-the board room-receiving MESSAGES from
tomers-aud transmitting the same messages to the
board member of the firm, Mr.. Middleton; also tee-
spoke with a soft refined voice. and his blue eyes
beamed ngenuously upon the other telephone boys
in the Of booths that they immediately nick
named him Sally.
He learned the business, as nearly all boys must
do i'm Wall street by absorption he heard nothing
many words with the same meaning. 1t was all buy
visible hope of making much money i'm the tWinking
of eye. The air almost unbrea thable for the
innumerable tips to buy OF sell securities ana MISE
clerks tho ecbaDge Ioorlxeeners AN wall street read
the morning papers. not TO ascertain the but 10
pick such items would. should or might have some
effect stock values. There god but the tick
er and the brokers its prophets!
As time wore on the glamour of the game wore off;
likewise his scruples. His employers and their Gus
tomers-al gentlemanly, agreeable people-specuated
every day, and nobody found fault with them. 1t
, was not sin: it was a regular business And So
whenever there was good thing he "chipped in
81 to telephone boys pool that later operated in
New street bucket shop to the extenc or ten shares
His small. his salary being only IS
week and often he thought that if he only had
scale and profit proportionately
Now the position of telephone boy is really inn
portant in that it requires not only quick-vitted
but trustworthy person M it. the first place
the boy knows whether his firm is buying or selling
certain stocks; he must exercise discrimination in the
matter Of ardng the orders should tine board
sr OF Ine I.4 haIpeh 10 oe unavaila2e wnen me
Dcy receives ine ORDER For example international
Pipe may be selling los. A man i'm Tracy & Middle
tons office who has bought 500 shares or It at 1O4
Wiailsa 10 ColIal ms proh's ne gives an oIueI 10
the firm TO sell the stock let say, lat the market"
that is. at the ruling market price Tracy & Middle
ton Immediately telephone their private line
the stock exchange TO their hoard member 10 sell 500
telephone boy receives the message puts up" Mr.
MiddIetons number. which means that the multi
,,,,,s ,C IN, eiectrjC,i 49, M, 1870 H. 49,
dleton that his number up he hasteus to the
telephone booth to ascertain what is wanted. Now
telephone boy knows ne absent gives the order
OF the ~two-dollar' brokers who always hover
about the booths looking for orders He does the
same if he knows that Mr. Middleton is very busy
executing some other order if i'm his judgment,
the order calls for immediate execution
and when Mr. Middleton absent from the floor
busy ne impartiaIy distributed firms telephone
bying selling orders among the dollar brokers
Tor Tracy Middleton did very good commission
business indeed He was nice looking and nice act
ing little chap was Hayward clean faced polite and
amiable The brokers liked him and they "remeu1-
beTed MIN AZ christmas The best memory was pos
Fessed by Joe Jacobs. who gave him S25 and insin-
uaed that Ec would like to do more of Tracy Mid
dletons business than he had been getting
But" said Sally. 'the irm said to give the
Wen SAID Jacobs oleaginously Il am never too
busy TO take orders from such nice young fellow
yourself IL YOU take the trouble TO find me. and
~ 90 some. nlhg nice lot you. Look here, in wins
per IF youH give me plenty of business TN give
-
ing itself hoarse about the Gotham Gas post.
Haywards first impulse was TO tell his firm about
. have offered him s. q week he had not expected
something dishonorabe i'm return. Before the market
closed. however. he spoke 10 Willie simpson McDuh
Tracy & Niddeton,s sure enoIrb v-iIlio s,-,,roseg
great Indignation at Jacobs action.
Its just like that old skunk" said Willie Five
dollars week when he can make 500 the firm.
Don't you do it.. Sally. Why Jim Burr VINO had the
Grant and $50 a month from voIff Yor.,.o eaf -
% 10. nv fba,-a arc
supposed to give you so cents a hundred Willie
been i'm the business two years and he was very
well dressed youth indeed Sally understood how
he managed it on salary Of S12 a week.
re ana not say anything to the firm that day
any other day. And ne didn't say anything to Jacobs
in return, but by Wiles sage advice contented him
Eelf with merely Withholding all orders from that
oieagnous parsonage until Mr.. Jacobs was moved TO
z demonstrate. And sally who had learned great
gcal m week under Wilie's tuition, answered curt
y; business is very bad: the firm is doing hardly
but Watson told me- said Jacobs angriIy. that
hes doing great deal of business for Tracy & Mid
I'm speak to Middleton and find out what the trou-
tell Mr. Middleton taat you offered me s. week to
give YOU the bulk of business"
It ss came now" TO business at once TN make
Jim Burr. who had the position before me- ex-
postulated sally Indignantly. told he received
SO from Mr. Grant with an extra SO thrown i'm from
slime 10 time, when Mr Grant made some lucky turn,
you must be crazy" said Jacobs angr1iy why
never get much more than thousand shares a week
ought 60 Doe the floor. You are wasting vour tan
places. you and t.
According 10 books" said Sally to the irate
broker having been daily coached By Mr.. William
simpson. che last week you did business for us you
got $500 shares. and received $50"
THAT exceptional week. III make IL SO 8"
said Jacobs.
twenty-five" whispered sally. determinedIy.
.lll give you SO a week but must that
get at least $500 shares "A week"
All right I'm 90 the best 1 can for YOU Mr. ia
4 oobs"
And he did for the other brokerp gave him only
- cents. or at the most so per hundred shares In
the course of month or two Sally in possession
OF an income OF $40 a week. And ne only Isl
Time passed As 10 had happened with his prede-
. cessOr, so old 10 happen now with sally. began
by specializing, wildly at first carefully later
From the bucket shops he went 20 the Consolidated
Exchange. Then he asked Jacobs and the other two
dollar brokers to let him deal i'm a small way with
lhen, which they did Out of personal liking Tor him
untH be had three separate accounts and couId
'swinE a line of several hundred shares.
At last the blow Ten which sally had long dread
fd-he was promoted to "a cerkship in Tracy Mid
dieton office. The firm to reward him for his
devotion his work for his brightness and ouicness
From So week they raised him $50 which they