The Washington times., 1915-12-25
FROM STOCK RUNNER
BACK TO BOOTBLACE
New Stock Exchange Rulings
Ends Mad Scramble on Wall
Street.

NEW YORK. Dec 2s.-''sure. I heard
about IT," replied Reddy, the bootblack,
who has handled millions OF dollars
worth Of negotiable stock certificates
for bankers and brokers in the financial
district, when he was asked II he knew
that the recent ruling OF the governors
OF the Stock Exchange in regard TO a
distributing department of the Stock
Exchange clearing house meant that
some OF the stock runners in wall
Street would find themselves without
Jobs.
Reddy. who has been well known in
the financial district for ffty-aya YEARS
v a well built, sunny faced individual
and has as his signal exploit the black
ing OF the boots of such personaRes as
Jim Fisk and Jay Gould back in the
palmy days when Wall Street financiers
and manipulators were more lavish in
their gifts and tips than is the case
today.
What will you do now?" Reddy was
asked.
GO back 70 shinin shoes" was the
smiling reply. and then he added. "or
some other business"
When Reddy first made his appear
ance in Wall Street ffty-fve years ago
things In general. he admits, were not
quite as efficiently conducted as they
are now. ..., So
TN those days" he said. there
wasn't any such thing as stock ticker.
Then the boys used to get the prices OF
the board and run them around TO the
different offices. They were called the
pad pusheTs." and the fellows who
made the best successes were the oneG
who could run the fastest
And there wasn't any such place rs
the Stock Exchange Clearing House.
Along about 215 every afternoon on
week days you'd see a lot of runners
chasing about making comparisons, and
then this part of New York was some
busy little spot. There'd be youngsters
thirteen and fourteen years old and old
men chasing around down here as IL
Old Nick was after them. with their
hands crammed full OF stock or carry
ing a sales and price book
There weren't any elevators in those
days. and It was some Job for a runner
to handle all the comparisons he had to-
It's not much like that now. though"
Reddy used to be a bootblack. and
1t Is only recently that he has taken to
stock running as steady work.
cause there amt any money in
bootblackin' now days, when they won't
let you into these big buildings without
you pay rent for the privilege of askin'
a man II he wants his shoes shined. 1
still have my box, though, and l guess
I'll have to take up the old Job again
when the new rule Of the big board goes
into effect"
'Tjut ReddY," eNpostulateG the in
terviewer, hasn't there been some
indication OF easy money following
the big profits period every one is
talking about?'
Nope" said Reddy, and az his ques-
tioner turned to leave Reddy smiled
again and sang out, Merry Christmas
and many of 'cm to you"
Very few, OF the busy persons in
Wall Street know him as anything
but Reddy, the bootblack. but he ad :
mttted last night that his real name
is John RYAN, though nobody knows
who that is" he explained.
The passing OF the stock runner Ia
the financial district. made probable
by the latest ruling OF the Stock Ex-
change board of governors, will bs
the passing OF, Wall Street institu-
Although the corner of Wall and
Broad streets at the present time is a
busy place any afternoon about 2:SO
o'clock, IL comes far from approaching
the conditions prevailing fifty years ago
when stock runners" were indIspens-
able to the transactions OF a brokerage
office.
Visitors from out OF town used to 70
down to that corner In the old days and
gaze in open-eyed wonder at the con-
fusing tumble of humanity which would
pour out of the doors of the adjacent
buildings and spread over Broad and
Wall streets for two and three blocks
from the exchange.
It was not an uncommon sight to see n
venerable gentleman race around a cor
ner, his face tense and his coattails
flying, while his legs were pumping him
along at pace far from dignified
Runners would dash down one street to
the corner, grasp lamp post and swing
around II with great skill and catapult
their next comparison office. There are
many men in the district today who re-
member well the lamp posts that were
worn by this particular service.