Graham's Magazine, Vol. XXXI, No. 3, September 1847Various
General
Graham's Magazine, Vol. XXXI, No. 3, September 1847
Various
Literature -- Periodicals; Literature, Modern -- 19th century -- Periodicals
It is really surprising what effect the weather has upon the minds of
stock-operators. Apparently, those enterprising fellows are as
susceptible to the influence of the atmosphere, as poets; though in
every thing else, it must be confessed, they are as different from the
_genus irritabile vatum_, as Horace calls them, as the orange-water on a
lady’s toilet is from the plain, unperfumed Croton in which she laves
her hands. On a bright, sunny day their countenances wear a cheerful
expression, their bosoms throb with joyful expectations of an advance or
fall in prices, as may happen to suit their purpose; and, in a word,
they feel richer and better, and are prepared to renew their operations
with increased spirit. Hence the expression so often seen in the “Money
Articles” of our daily papers, “there was a better feeling at both
boards to-day;” and this stereotyped phrase has become equivalent to the
announcement that the weather has become exceedingly fine.
In cloudy weather, on the contrary, particularly if it rains, their
faces are generally augmented longitudinally to a very considerable
extent; and so true an interpreter is a broker’s face of the state of
the heavens, that one might safely depend on it for information without
looking at the sky. I regard a speculator’s countenance as far more
reliable than a weathercock, because I have known the latter to deceive
me by pointing westward, when, according to the weather, it should have
stood in the opposite stormy quarter. But the face of a stock-operator
of New York was never known to play tricks of this kind, within the
far-reaching memory of that most respectable, and often referred-to
individual, the Oldest Inhabitant. No man ever saw a smile on his phiz,
except when the sun shone.
There are some shrewd men in New York, who perfectly understand these
“skyey influences,” and regulate their speculative movements
accordingly—buying in a storm, especially if it be a long and severe
one, and selling out whenever the succeeding clear weather has produced
a favorable reaction in prices. One rich individual, living up town, the
moment he rises in the morning, opens his window and looks at the vane
on a neighboring steeple—the only part of the church, by the way, he
cares a fig about—and if the wind happen to blow from a rainy point, he
hastens down town, and orders his broker to dive deep into some of the
“fancies.” If, however, the day be clear, he stays at home, his broker
being already instructed to sell out some previous purchase, as soon as
the weather should warrant.
Public-domain text, read in full here on John Shaqi.
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