Tonopah bonanza. [volume] (Butler City [i.e. Butler], Nev.) 1901-1909, 1907-07-13
Meaning of the New York Curb

Do you know what the New York "curb" is? =
We all do in a way, perhaps, but how many of u know what =
the real meaning of it is. Most of us know what the curb of San =
Francisco is. Simply the gathering of brokers on the sidewalk, =
after the exchange, to deal in the stocks which are called on the =
regular board. In a manner it is a feeble imitation II the New '
York curb, but a very feeble one. =
portant institution in the way of finance. 1t is, really part of =
the great Wall street exchange. It's membership costs nothing, =
but it is the most honorable body of traders in the big metrop- =
oils. One never hears Of failures o. the curb, and very rarely .
does a curb broker go wrong. y
The curb is a preparatory school for the great college of fin =
ance of Wall street. When a company applies for listing in Wall .
street, it's stock is tried out, as it were, on the curb. There the .
market is made for the security. and it remains on the curb until =
taken in hand by the big fnancers. Surprising as it may seem .
to those who are not in on the know, the Standard Oil has never .
got any farther than the curb, and all the quotations on the stock .
of the monopoly are from the curb. The reason for this is that =
the Wall street exchange could never get a report from the Stand =
ard Oil company to fit it for a place on the list. =
Mr.. David Schaye, manager of the branch office of Albert Loeb .
in New York, gave a very interesting exploitation of the doings .
of the curb. and of what constitutes il. n a conversation with him .
yesterday. The house with which he is connected, is one of the =
biggest financial institutions of New York, and like all the other =
big brokerage houses of the kind, has its representatives on the =
I'VE have to do it" said Mr.. schaye. to keep abreast of the =
times. Every house has its representative in that great crowd =
that does its business on the street. The curb is located on Broad =
street and there re at least five hundred curbstone brokers. The 4
hours of the curb are the same as those of wall stree from 10 4
in the morning until 3 in the afternoon; and they are there. rain
or shine. The brokers are enclosed inside of ropes, and there is a
Gordon of police there to preserve order
1T is a wonderful sight to those who have not seen it; such a
wild, scrambing, enthusiastic, crazy lot of men, shouting, yelling,
scmpping all the day long. If a drops his hat the hat is
gone, for he has no time to pick it up. 1t is walked on, stamped
on, kicked and bufeted, and sometimes thrown up into the air.
The great tall buildings surrounding the curb. contain the offices
of the brokers, and from the windows you will see men making
signs with their fingers, with their hats, with their hands, with
states. They have all kinds of codes which understand mt
b themselves.
' 1T would be impossible to communicate with any one in that
, crazy ring, so they have to provide their code. And the code of
, the curb is one of honor purely. The only initiation to the curb
, is to step inside the rope, and commence bidding or offering. The
, man who wants to do business with you soon finds out what is
. your standing or the people whom you represent. You pay no
, license to the curb, but you do discharge your obligations.
, 1T is on the curb that your market for the southern Nevada
. stock is made. The Guggenheim stock, the Nevada Consolidated
= of Ely the Cumberland Ely, the imposing, and many other big
. stocks are traded in here only, as are all the new bond issues of
. the big companies, no matter how old they are. When a stock
= is taken up by Wall street, it is dropped by the curb. But the
= curb in its way is just as big an institution as Wall street"