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

| NEW YORK. Dec. 25.-"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 IL 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-fiye years.
Is well built, sunny faced individual
and has as his signal exploit the black
| Ing OF the boots of such personages 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 VIII you do now" Reddy was
asked.
Go back TO shinin' shoes" was the
smiling reply, and then he added, "or
some other business"
| When Reddy first made his appesr-
ance in Wall Street ffty-five years ago
| things In general. he admits, were not
quite as efficiently conducted as thew
are now.
| In those days" he said. there
wasn't any such thing as o stock ticker
! Ihen the boys used to get the prices OF
| the board and run them around TO the
different offices. They were called the
| pad pushers." 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 2:l5 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 fuil of stock or carry
ing Il sales and price book
There weren't any elevators in those
days. and it was some Job for, runner
| to handle all the comparisons he had to.
| It's not much like that now. though"
Reddy used to be "A bootblack, and
IT is only recently that he has taken to
stock running as steady work.
| cause there amt any money in
b0OtblaCkin now days, when they won't
let YOU into these big buildings without
you pay rent for the privilege of askin'
| u man IL he wants his shoes shined |
| still have my box. though, and | guess
| III have to take up the old Job again
when the new rule Of the big board goes
into effect"
"But Rcddv," eNpostulateG the in
terviewer, hasn't there been some
lndicntion OF easy money following
III" big profits. period every one is
talEing about
Nope" said Reddv and as his ques-
tioner turned TO leave R"ddy smiled
again and sang out. Merry Christm as
and many of 'Cm to you"
Very few OF the busy persons in
but Reddv. the bootblack. but he ad :
lniltcd last night that his real name
| is John RYAN. though nobody know s
who that Is" he explained.
the financial district. made probable
by the latest ruling Of the Stock Ex
| change board Of governors, will be
the passing of,a Wall Street institu-
| ton.
Although the corner Of Wall and
| Broad streets at the present time Is a
| busy place any afternoon about 2:SC
| o'clock, II 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 20
! 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.
| 1t 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
1 tla I,
| around It with great skill and catapult
| themselves in the general direction OF
their next comparison office. There are
many men In the district today who re.
worn by this particular service