The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1903-11-17
~Conyright, 1903.

r,raev & MIddleton, pdilhtiS ana
o His name was Willis \. Hay
0o5 and he was a proud boy indeed
49, h, was selected out OF twenty
@~.--5.srt- to be telephone clerk for the
i'm. n., !,
-~--. 4 NiGdlcton's private telephone
" ..- roor of tkc Stock Exchange-the
o ~a.m-receiving orders to buy or
~. .-o.t- for Customers-and transmit
-. ,r. same messages TO the board
49, OF the firm, Nj. Middleton;
D .o +acraoning MI. Middleton's reports
the office. He spoke with q soft, re-
vince. and his blue eyes beamod
.+ .r..auousIy upon the other telephone
r..- m the same row Of booths tina
.-r Immediately nicknamed him Sally.
t[- learned the business, as nearly al
,,~. must do in Wall Street, by absorp-
I'm He heard nothing but speculate,
,rec1latc, in one guise or another, many
words with the same meaning. 1t was
al nuvinc or selling of stocks-a concen-
,,tal and almost visible hope of making
,,,rh money in the tWlnkllng OF an eye.
qne air was almost unbreathable for
.M. fnnumgcable tips TO buy OF sell securi-
rtas ana iusecurities of all kinds. The
brokers. the customers, the clerks. the
Exchange doorkeepers, all Wall Street
read the morning papers, not TO ascertain
,bo news. but TO pick such items as
would. should or might have some eff
tert On stock values. There was no god
In. the ticker and the brokers were its
pcpact~.
As time wore on the glamour OF the
GENE wore Off; likewise his ~scruplns.
His employers and their customcrs-all
GeELemanly, agreeable ~pcoplo-specula-
ted every da. and nobody found fault
with them. 1t was not a sin; it was u
regular business. And so, whenever
there was a good thing he "chipped
H." one dollar to q telephone boys
pool that later operated IN a New
street bucket shop to the extent of ten
shares. His mean We're small. his sal
arv being only IS a week: and very often
h. thought that if he only had a little
more money he would speculate on a
larger scale and profit proportionatelE.
Now, the position OF telephone boy i,
really important IN that it requires not
only a ~quickWitted but a trustworthy
rl.~on 10 fill 1t. IN the first place, the
boy knows whether his firm is buying
OF selling certain stocks: he must eXcr-
c>e discrimination IN the matter Of
awarding the orders should the board
member OF the firm happen to be unayail-
able When the boy receives the order.
For example: international Pipe may be
selling at los. 4 man in Tracy & Mid
dlcton'e office, who has bought 500 shares
oil IL at 10I wishes to corral" his profits
He gives an order to the firm to sell
the stock, let US say. at the market"
that Is, at the ruling market price.
Tracy & Middleton Immediately telephone
over their private line to the Stock Elk
change to their board member to sell
500 shares Of International Pipe at the
Market The telephone boy receives
the message and puts up" MIR. Middle
tons number, which means that on the
multl-colored, ~checkered strip on the
lIiczc of the New street wall. Mr.. Mid
deton's number, GIL, appears by means
@. n electrical device. The moment MIR.
Middleton sees that his number is up
be ha>tens TO the telephone booth to
ascertain what Is wanted. Now, If Mr..
Middleton delays i'll answering his mum
Der the telephone boy knows he Is absent
and gives the order to one OF the two
dollar" brokers, Who always hOTcT
about the booths looking for orders. He
does The same if he knows hat Mr.. MID
uloton Is very busy executing some other
order. or. if in his Judgment. the order
calls for immediate execution.
- ~ ,ai
r7a- lIp' 1da I;ad1ato ~
wa. atsnn+ ,ron, tha noon or hI1sv ba
fm,-rf,,I. a-:0+m;h,tad +ha f,,9.y tcIo
rt-,[f t 1''' no,i.u an5n,- .ur,
49,. 49,, ~ &c ' Ta1 . Ma
a.a.or a. = a d.afon b-.;
rls. indeed w. 5o'a njra ioo,.jng soI
",9 'Hdeed. lie was a nice looAlhb al"
clean rscr5 noiite and amiabje, Tbe
brokers liked him and thav remembered.
him At Christmas The hest memory wa
possessed by ..Joc" Jacobs. who gave hin,
Sy5 and ineinuatod that ba would like
To do more Of Tracy & Niddlcton.s bust
Nos than he lad heon rcttinc.
But said SALLY ,the firm said I wa,
10 give the order to whichever broker
found first
well" said Jacobs oIcacinously, Il
an never TOO busy 10 take orders from
such q nice vounr fellow as yourself il
you take the tro,bla tn end me. and II
DO something nice for you. ''Look here
Al q whisper. If you give me plenty Of
Business I'll give you 50 . week. Ard