A Week in Wall Street: By One Who Knows — John Shaqi
A Week in Wall Street: By One Who KnowsJackson, Frederick
General
A Week in Wall Street: By One Who Knows
Jackson, Frederick
Wall Street (New York, N.Y.)
Mr. Friendly disclosed his errand at once, and was well received.
EAVESDROPPERS.
He said he was apprised of a speculation going on in the stock of the
Morrison; he intended to embark in it—wished them to hold back their
stock, and aid his views in effecting a rise, and he would aid them in
disposing of theirs at the right time. He did not tell them that he was
the sole author of the speculation; he modestly forebore that, under
the plea that he did not feel at liberty to tell all that he knew. But
the directors were almost immediately confirmed in their good opinion
of his knowledge and sagacity, as well as of his intention to do them
a service, by hearing of the large purchases of Mr. Bottomly, at a
considerable advance on the previous market value.
It is curious, as well as amusing, to see how many and how slight
causes sometimes tend to aid or to frustrate a speculator in his
designs.
There is a set of proscribed men in Wall-street, who were once
brokers, professionally, and are now broken in reputation, credit and
finances—having no means but what they have kept from their creditors,
and—being expelled from the exchange board for defalcation or bad
conduct—they still linger round their old haunts, and carry on a
system of gambling in what are termed fancy stocks, through which
they contrive occasionally to entrap and empty the purse of some
newcomer, or filch each other of their ill retained means, until each
in his turn gets placed on the “black list,” which is the final seal
of reprobation, and in Wall-street signifies—“that whoever deals with
that man, shall himself not be dealt with by any one.”
EAVESDROPPERS.
These gentry may be seen, daily, in squads of three, four, and five,
standing on the side walks, or on the steps of the large offices,
talking vociferously, and making such bids and offers in the funds, as
that one not knowing better, would suppose that each held the finances
of the country in his palm.
One of them, whom I will call Mr. Eavesdropper, had his ear timidly
placed at the key hole of the Stock Exchange, and heard Mr. Bottomly’s
bids for Morrison, which instantly infused such courage into his
mind, and activity into his limbs, that he went out, and before the
transactions of the board were publicly known, he had privately
contracted for the delivery of a large number of shares; and then, to
aid his purpose in effecting a further rise, gave out that he was in
confidence with John Jacob Astor, or some one no less powerful, who
had determined to buy up the whole company.
MR. SPRIGGINS.
Public-domain text, read in full here on John Shaqi.
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