The Boise citizen. (Boise, Idaho) 1906-1910, 1909-03-26
STORY OF A WALL STREET BROKER

Everbodys Magazine April
cn entitled "A heing OF Wall sneethe confession OF
branch manager of OF the Big New York stock exchange
houses He describes himself capper and producer gam
oilers This the way he discusses his business
"Te broker the profitable end OF the game Perhaps
have realized that New York Stock exchange houses
with any clientele offices they make
charges which monthly shows and which
of hundred spectators verify The and
charges that the brokerage firm make the percentage
almost impossible This percentage far bigger than
roulette Do you think you the long playing
ee? If you think you then go ahead speculate If
doubt then let tell that almost three years had 200
accounts, and only have had anybody make any
money to keep, but have many fortune wiped
Il that be manager exchange
house the chief requisite list of wealthy friends made up
st of friends who pecaed and gave myself the benefit of the
doubt when quite whether the other would
patronze Then talked to number of people who
bers of the New York Stock exchange, and others the employ
branch houses endeavored find what could and within
short time had dmed INTO me that there are hive important re-
upon which depend the brokerage
s8 'First-Get people to speculate.
# Second-Get these people to put up sufficient margin
"Third-Make them keep putting up margin.
FouWhen they have lost their money be careful they don't
1Fge in you.
"Fh-When has lost all he has, look for blood
Within weeks after having made my mind to enter the
ger of branch office rented of had ckers and
Telephones installed quotation board put up filled the with
chairs and ofas directed painter to the four street
windows with big godettered gnsust the firm and that
amportan trade mark Members of the New York Stock Elk
Change Everything in the stationery neetterheads cards etc.
bore that opoent trademark under whose proud banner
Stood was little proud of it.
On the 1st of May 1906 OUT the ckers were
going their full speed telegraph operator who transmit
my orders by the main office sat at his desk boy was
yell quotations. put board
All friends had been notified by or by letter. that
would have my opening on May l.
My business depended my friends. To make friends was
Essential my did everything could to make friends
Let modify did everything could become acquainted
with SPECTATORS with to getting their business The Waldorf
the big hunting ground My heart and soul we're my work
81 had succeed and any getting customers man
cultvating only him prospective customer
Boiled down. principal occupation Meet mercraw into
being good fellowake them like and get
them to trade Then watch out that they don't get away from you
For this work received the salary of United States general
My exceedingly LIBERAL and questioned my
expense My monthly cigar and bills from
$3.50 $780, To entertain part of occupation
dtese did not matter when the customer was good
trader.
Mind inducements offer the people who did bus
other New York stock exchange house
the New York stock exchange tie all its
of business If secured on
grounds dnot because could offer them any better terms
than other houses.
within year half built upa business of from
six thousand shares darePentng proh OF about 70
$500 day my FIRMLY salary raised $1,000 year. and
received handsome cash bonus.
quite weeks after my salary had been raised my firm
who had lost whatever they had on deposit
should have known of the crisis and given them chance
withdraw funds The ink the ticker announcing the
hardly dry when another stock exchange house
offered salary cared associate myself with them
1? Merely procrer of gamblers The total prof
which my almost three from the orders OF
tua investors would not have covered the that handed Out
months The money received from firm was merely part
of the kitty which had procured The New York pohce nave
of who hang around the gambling district
and are known as cappers They the business that
but they work for unlicensed The game OF which
hreling sanctioned by the state looked upto by society
called broker manger of stock exchange housea gentle
man, don't you not capper
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Portland lona1: The Boise to Coos Bay railroad is all on
paper as vet but good the development slogans
great northwest region and there plenty OF grounds
believing that it will day be reality
would traverse magnificent nightly esouceu region and