Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-10-26
STOCK SPECTATOR TYPES
ROOM TRADERS WHO CLUSTER
ROUND THE TICKER.
Sit in Brokers' Offices and Play the
Market-How They Take Their
Losses-Fascination of Game.

| type is in general one of the brides by
| which London induces you to condone
| her determinations. 1t Is this same exhibit
| ton of varied types that makes the finan-
| cial district OF New York so fascinating
| to the ordinary observer, and which OBJ
/ scures at least condones the many
| sordid features which obtrude The obser-
walton and Imagination Of Dickens did not
| conjure up such curious characters as
one may find In wandering through the
| speculative quarters Of the financial dis
trict, In the customers rooms Of brok-
| ers in the back rooms of bucket shops
| In the doorways and on the pavements
| OF New street. In the cafes, restaurants
and other haunts of those who chase
the elusive dollar, derisive OF the econom-
lc law that maintains that labor is fun
damental factor in the creation of wealth.
There is peculiar atmosphere in Wall
street. one that grips and fascinates, not
conducive. prhaps, to the cultivation of
the very highest ethical ideas. and tend
ing rather to sharpen the wits; but the
philosophical Onlooker who eschews the
market and is not beguiled by the cryptic
utterances of the tape will find much to
amuse him.
Here is brokerage firm doing bust
ness on the sock exchange one men,
Der. or perhaps two, activ. on the board,
another looking out for the Office
OUR 'inents. Tier. Is a comfortable Gus
toners room, with stock tickers easy
cna1"s. gossip tici:ers. and on the table
literature of a kind calculated to interest
ana entertain the casual wayfarer or Gus
toner The Office member Is genial,
plausible. confidential. full of wise saws,
and secrets of vast Importance exuding
knowledge of prospective movements.
| clear to the significance of the news
ard reluctantly nti;nating by his very de-
MAS and his h@s:tancy that he Is in
close communication with the big in
terests. Candor SITS -uthroped on his
forehead. there is total disregard of
ssh-interest in his advice. and in his
pocket is the memorandum of his mar
SIN clerk. showing how much further lee
way his customers may have before he
calls them. The best type OF office
gins and at the SAM time impress his
clients with the belief that he Is the
earthly manifestation of their guardian
angel
The Customers.
But for the nonce the customer him
self is the most interesting type. He has
many varieties. from the top hat and
frock coat of the pseudo plunger to tie
commonplace SLOUGH and bourgeois
tweeds of the one-hundred- share man
His facial characteristics are many. his
express'o ns rejecting the tale of the tick
er as told In his own account. his purpose
thinblerigging, and to whic hthe old-fash-
Toned trick % -the-loop is as square as eu-
chre at a church social But be it noted il
IS not your broker who inv-nts the pitfalls
INTO which the unwary tumble. rather Is
IL MS purpose to guide his customers
through the mazes of the game to their
proht and his own. This does not apply
10 those scavengers of the financial dis
trlct, NE human coyotes who hang on
the outskirts and gather in the dimes and
collars y,hn f,1I
Dig game. or of those youngsters and in
nocents VINO become infected with the
fever OF gamb!ins-the constituencies
ones who operate bucket shops
Recent years have seen the advent of
the so-called western specula tor, spectac-
uiar In his stock market operations, which
are but variation of his other forms of
gambling. firm in his own belief that he
IS power in the market. kept before the
public by the voicing of his own self
appreciation and under cover of his
himsy reputation for breezlness and
square dealing. earnestly and assiduously
ooking out for himself even al the sacri-
flce of his intimate friends
Deception
Once upon a time three men devised a
scheme to corner a certain commodity
and make millions out of those who did
rot believe that nature can be relied upon
as ready ally in speculative schemes
One was of the type just noted above,
one was less assartive in a spectacular
way, but smooth as oil when his reason
ing faculties were clear. ana little reck-
ing truth or promises when they stood in
the way of the attainment of his purpose
The third was the direct reverse Of both
clean. clearhanded. honest. ready to help
those who needed it. Broad gauge in IS
own methods. but too simple to analyze
the methods of his whilom partners he
put up his money and-he lost 1t. The
al was failure. the cost heavy, but
this man believed it was all legitimate
His clerks knew otherwise the public
knew otherwise. but the clarity of his own
purpose prevented a doubt of those whom
he trusted He found out a year later.
and his disappointing mt was keen, not
because of the hundreds 0. thousands lost
but in the knowledge of another's de-
cett. Three types. two OF which are the
Kind that fortify the cnyics doubts and
sneers. and the third of the type OF which
ignorance makes target and cunning
schzmers take advantage.
But aside from these characters there
are other types in the financial district.
Seated in the corner of our imaginary Gus
-o:ners room one may a quiet indi-
vidUal closely watching the tape, noting
the changes without comment but occa-
sionally giving order to tn. nearby
clerk or room manager. Intelligent In
appearance. extremely reserved uncon-
Scious OF his surroundings, he watches the
tape and he plays the market as the tape
tells him. He disregards gossip, ignore
tips. but listens intently to the cloque Mt
tale of the ticker. He is a man of lin
tied capital. but his income is derived
from his trading profits. He takes no
heavy losses. he is content with small
profits and his margin is always ample
What was he? No one knows.
Perhaps in the same Office one may
find that pest of every brokers' room. the
noisy. vacuous individual, who, if his
trading were In proportion to his
oquaclty would make his broker rich
His Importance is tremen dous his COM
mants are positive, he is argumenta-
tive, vItuperative and gen .ral nuisance
lie affects loud clothing. frequents the
neighboring cafes. implies a close friend
ship with the head OF the house (who Is
probably waiting patiently for response
10 his margin CalD. drives downtown In
a cab and furnishes an ideal for the of
flee boy. This is common type
Then th-re is the gambler, the nan
who owns palaces where gilded youth and
his foolish elders pit their puerile wits
against fortune wnen the glamor of the
gas lights call. You can find him in the
financial district invariably loser. He
DO not take his losses easily Profana-
ly he consisns the game to Geheuna, but
he comes back. Luck goes against him.
h. loses heavily. he borrows. loses again
I tr