The Tipster: 1901, From "Wall Street Stories"Lefevre, Edwin
General
The Tipster: 1901, From "Wall Street Stories"
Lefevre, Edwin
New York (N.Y.) -- Social life and customs -- Fiction; Short stories; Wall Street (New York, N.Y.) -- Fiction
He became a Wall Street “has been” and could be seen daily on New
Street, back of the Consolidated Exchange, where the “put” and “call”
brokers congregate. The tickers in the saloons nearby fed his gambler’s
appetite. From time to time luckier men took him into the same
be-tickered saloons, where he ate at the free lunch counters and drank
beer and talked stocks and listened to the lucky winners’ narratives
with lips tremulous with readiness to smile and grimace. At times the
gambler in him would assert itself and he would tell the lucky winners,
wrathfully, how the stock he wished to buy but couldn’t the week before
had risen 18 points. But they, saturated with their own ticker fever,
would nod absently, their soul’s eyes fixed on some quotation-to-be; or
they would not nod at all, but in their eagerness to look at the tape,
from which they had been absent two long minutes, would leave him
without a single word of consolation or even of farewell.
V
One day, in New Street, he overheard a very well-known broker tell
another that Mr. Sharpe was “going to move up Pennsylvania Central right
away.” The overhearing of the conversation was a bit of rare good luck
that raised Gil-martin from his sodden apathy and made him hasten to his
brother-in-law, who kept a grocery store in Brooklyn. He implored Griggs
to go to a broker and buy as much Pennsylvania Central as he could--that
is, if he wished to live in luxury the rest of his life. Sam Sharpe was
going to put it up. Also, he borrowed ten dollars.
Griggs was tempted. He debated with himself many hours, and at length
yielded with misgivings. He took his savings and bought one hundred
shares of Pennsylvania Central at 64, and began to neglect his business
in order to study the financial pages of the newspapers. Little by
little Gilmartin’s whisper set in motion within him the wheels of a
ticker that printed on his day-dreams the mark of the dollar. His wife,
seeing him preoccupied, thought business was bad; but Griggs denied
it, confirming her worst fears. Finally, he had a telephone put in his
little shop, to be able to talk to his broker.
Gilmartin, with the ten dollars he had borrowed, promptly bought ten
shares in a bucket shop at 63%; the stock promptly went to 62%; he was
promptly “wiped”; and the stock promptly went back to 64%.
On the next day a fellow-customer of Gilmartin of old days invited him
to have a drink. Gil-martin resented the man’s evident prosperity. He
felt indignant at the ability of the other to buy hundreds of shares.
But the liquor soothed him, and in a burst of mild remorse he told
Smithers, after an apprehensive look about him as if he feared some one
might overhear: “I’ll tell you something, on the dead q. t., for your
own benefit.”
“Fire away!”
“Pa. Cent, is going ‘way up.”
“Yes?” said Smithers, calmly.
“Yes; it will cross par sure.”
“Umph!” between munches of a pretzel.
Public-domain text, read in full here on John Shaqi.
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