The Columbus journal. (Columbus, Neb.) 1874-1911, 1911-04-19
IN THE EARLY DAYS OF WALL
STREET.


STREET.
Before telephones-imagine it!-be.
fore there were even tickers to dis.
tribute prices instantaneously, while
railroads were still experimental,
Frank Work, = big, sudden sort Of
man, who died recently. was perhaps
the most important broker in Wall
Street. Names Of thoroughfaIes,
which do not change; the likeness Of
Commodore, Vanderbilt On New York
Central stock certificates and four or
five rickety old buildings in Broad
Street with smelly restaurants in their
Easements and curb brokers in their
lcfts-there is little else that survives
his day.
To those whose minds may bridge
the gap, the name Of Work suggests
Wall Street as you find it in old
prints, before there were skyscrapers,
when building came honestly by its
four walls, when a man was nobody
downtown unless he wore q silk hat in
the daytime, when all money was re-
spectacle by presumption, and none
was tainted, when successful specula-
tors nigh. wear waist coats with dia.
mond buttons, when after a bear day
on the stock exchange bears opened
champagne nearby and brokers drove
fast horses in the park. All Of this
was when black walnut furniture was
fashionable.
Work belonged to an era. 1t was a
man in his Office who sold his stock
exchange seat for $500 and invested
his whole capital in u company to
manufacture polite cuspidors. They
we're made to resemble anything else,
but mostly to resemble plush covered
footstools. You put your foot on
treadle and the top opened; then you
removed your foot and the top closed.
The firm of Frank Work Il Co., was
at 80 Broad Street. There is still
80 Broad Street, but the building is a
skyscraper instead Of the low brick
structure which occupied the site in
Works time, and which, you may still
make out in one of the old prints if
you look down Broad Street Oh your
right to the corner beyond the stock
exchange. Work loved to be told
that the ways Of finance and specula.
ton had become too complex to be be.
lieved. For example, nowadays, it is
thought bad practice to corner" q
stock. 1t is all but forbidden on the
stock exchange, the general sense Of
decency is strongly against it, and it
does not pay any more. But in his |
day corner" was perfectly business
like and legitimate, and what beauti. |
full operation it might be. Work was
Vanderbilt's confidential
broker, and the commodore knew how
to corner stocks and make it pay. He
once "cornered" Harlem for the educa.
ton of the Legislators at Albany, who
refused to give him something he
and then went short of his
stock.
Commodore Vanderbilt was RI ex-l
acting man and had to trust his broker
deeply, but he was also a democratic
man. Hespent a good deal Of his time
IN the house of Frank Work 4 Co.,
md was never too stiff to exchange
with the men he might
meet in the outer Oflice-the other
customers of tine firm. One of these
vas Capt. Jake Vanderbilt, his broth
r, who lunched sumptuously and
'moked excellent cigars at the expen-
e Of those who expected some day to
;et straight tip out Of him. He
kncw less about what his brother, the
commodore, did than the commodOre's
,rOker knew. Those with whom Cap
ain Jake lunched SO often were a com.
Amy such As you would Erobably find
q no stock exchange house today.
)nc was Jimmy O'BrieD, sheriff Of
Jew York. Another was John Nor.
issey, with the broken nose, former
'ugilist, statesman and owner of the
argest gambling club at Saratoga.
Another was John G. Hcenan, prize
ghtcr.
Men have always kept strange COM
any in Wall Street, but never since
as it been so queer. Methods and
,anDers are refined. Drinking for
ne thing has gone out of form; then
very large and prosperous stock ex-
hange house had its own little bar,
here men could help themselves.