The Caucasian. (Shreveport, La.) 1900-192?, 1907-01-20
STOCKS IN WALL STREET.
The machinery That StarSs when q
Erokes Geto 40 9rIsFe

| The Machinery That starts ~he@ q
Erokes Gets 40 erdere
| Il is So easy - buy stocks if one Gas
Che naney chat few persons eealize
ahe Mondelful aachilRrs that is set 10
motion wheR SUCH purchase b glaue.
! It is interesting 10 trace che stock
through aA Che channels OF Wan streee.
Ihe bes1 way g. get ehis befoge che
outsider is Go take so 9maginary ease.
Zones, 10 Buffalo, goes Gnt9 Che branch
is met 40 Che docs by a boys who takes
A him to the manages zones says. 81
! want Go buy zoe shares Of Steel com
mon af 40" and gives his CHECK for
! $40l250. The order 81 sent TO Che
j bookkeeper, who checks ID O. k-s then
\ to the order eIerk0 who sends re to Che
v telegraph eOom whence 10 is sent oger
! the private Wire. engaged az $4,000 Q
seaEo Go Che 0ain Office in Gew York
4 city.
There e is received and sent to Che
bookkeeper. who o KS it, sends it to
| Che order clerk, Who giees 10 % eele-
4 phone Coy Dc Che Office. who telephones
! 10 20 Che Stock Exchange TO a boy
there who carries Che order 60 the
hrokee, who pushes Go the oStee3 pose
ana buys ehe Stock lie gives a eecord
Of Che purchase 60 o page 90 Che floofs
whe carries 10 Go Che telephone ana re
4 ports Go the office Anoeher page cakes
a report 90 the telegraph operator. whe
l sends it ouf on Che fickeg. A ceport
also goes Go Che exchange eegister
where Che SAFE is eecordel % q great
book for future Feference0
When Clio report is eeceiveS ia Che
! brokers' office. t goes 60 che order
! clerk. who reports 10 10 che telegraph
! operator. who wires Che notice S the
purchase 60 Che branch office where
The customer is eosifietb Then he ee-
ports it to the record clerEs who re-
cords it in the proper book. The0 10 o.
reported to CLERIC who writes cut q
notice. which is mailed toethe custom
er. Then the notice OF Che purchase u
sent to the stock clerk, who recOS,ss it.
Next day the man whe sold Gle ssod4
sends it to the purchasing brokag
Sometimes another Dlaa who had moth
ing to do with the sale sends Che stock
This is determined hS Che clearing
house. whose system is simple and
does away with innumerable actuas de
liveries of stock Clerks figure out whs
is to receive stock. SO that ali Che de-
liveries do not have to he made. brtt
| only the balances due.
| When the stock is received 10 Is paid
for by the cashier ~ is then entered
from the blotter 90 the eashbook ana
then posted in the ledgeE
Then the certificate is sent 20 the
| transfer AGENT where o new certificate
| is made out in Che Hame of the owner,
| then to the printer. who completes it.
The check with which the stock is
paid for is deposited in the brokers'
! Buffalo account and goes through the
| clearing house there to be returned
to the bank upon which it is drawn,
| The manager of the branch office
draws his check and sends 10 20 New
| " llie ludlH 81 Is uti)DSit-
ed. goes through the clearing house and
| is eventually returned to the bank upon
which it was drawn.
To handle this business shere are a
| hundred or more messengers Oh the
| floor Of the Stock Exchange. there are
| telegraph operators. bank clerks, ines
sengers and transfer agents.
The purchase affects millions. The
orders are written upon paper made by
the manufacturers of paper. who EN-
! plOy hundreds of men.
The printers bought their presses
| from the makers, who bought their iron
/ from the steel corporation. The tele-
graph company bought it's wires from
| the steel and wire companies, who
| bought the copper from the Amalga-
mated Copper company. Each of these
| concerns employs thousands of men.
and without these and many others this
| 100 shares of stock could not have been
| bought. SO it can be seen that the
whole country is affected by the buying
and selling of stocks in Wall street.
| st. Louis Post-Dispatch.