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The Ogden standard. [volume] (Ogden City, Utah) 1902-1910, July 23, 1910, Part Two, Image 15

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Persistent link: https://chroniclingamerica.loc.gov/lccn/sn85058398/1910-07-23/ed-1/seq-15/

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L n e METHOD 91 fle e U 16 lJ B M D h 1 1 I Ii L J J v I 1
IB EING the Story of a Day on lithe Little Stock Exchange the Famous Market of Broad Street
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6Plr1bt J9W Ij the New York lleralJ Co All rights riscrvctl
NEW YORK SaturN
t II Nip Wholes Nip I say Pop
t t whats 1JI Ilajo nay better than i111TU
N
dont you move her To UndCi wilt
Goldfleld Gimme Gicenwuter at G
0 Rather be short than long in this Wash
t Inglou weather Whats tho low for Stewart i
r 0c oyez ve mighty Yale men Is there any moucy
j lu jour trousers J 1ivt lc u cent In the lot Chluo
j Is going some Heres a put on McKinley at OG6
i Ull the twentieth How much is that No uo not
J him Lance us de big feller In dQ brown combination
vvid dc pink In de buttonhole Thats him Carlsal
Carlsa Cansal
So they cry and chaff through all seasons and all
t weathers In Die hours of every business day ou ihu
a New York Curb the celebrated al frogqo market for
I
floaliugs in miscellaneous securities not bought and
sold within the walls of the Stock Exchange though
I financial houses haying seats in that great Institution
v supply the Curb directly or Inilucctly with eighty pct
cent of the business
In 1909 the two hundred curb brokers had a turn
t over of 2oOOOO000 in mining railway electric and
Industrial slocks and bonds of corporations with an
aggregate capital of 3000000000
Every business morning at ten they line up in their
I
reservation with the ardor of Mohammedans at the
tomb of the Prophet and bow metrphorlcally spur
y bolicall unto E S Mendels guide and philosopher
Ii of the family
1
L lc And well they may for the Curb of today system
< l itlcd by him on unanimous request after the col
t Lapse of dealings In outside securities following the
i panic of 1907 Is the embodiment of his Ideas the ex
f prcsslon of his Ideals If an Institution be the length
t nod shadow of a man the Curb Is Mcndels long
drawn out He Is the Boss
I
Down on the pavement of Broad street nhd ufcw
I yards south of the castthrown shades of the Stock
Exchange the Curb fraternity and its clientele main
tain n system of tlading that is us unusual In Its
guarantees as It Is picturesque in us surroundings
The view one gets of the door of the Stock Exchange
l from Its gallery Is not a picture Ills a sight but
f so also Is the view one gels of the Interior of a
r boiler factory when business Is brisk Trading around
I the posts of the Stock Exchange creates a sense of
power and momentum like the whirling armature of
Ujnamo but there really Is very little In It nil upon
which a painter would fasten With the Curb It Is
otherwise the whole situation stirs the pictorial
faculty
+ Thrco characteristics the Curb has that set It apart
oni all other markets three beside the unique pccu
llurll of an existence out of doors
fc IJrat The Curb is the only market where the
regular traders make a point of u asserting tint they
i have no organlatlon
Second The Curb Is a public market to which nil
t why desire its facilities have unrestrained access
Tliiid The Curb is a kindergarten for both sccuii
ties and speculator
In the Canyon
lo the ordinary sightseer who turns Into Broad
street from Wall about halfpast nine of a business
V morning In the dog days and moves slowly southward
glance will reach the
licking up what u cursory
osiuct of this renowned thoroughfare for the first the
of some deep canyon of
bundled feet is suggestive
Tollshed granite and marble the stream at the bottom
of which has run temporarily dry Far down be
tWeen humanity crawls aulllke
towering precipices
or serpentine
bough the roadway is wide It seems merely a trail
III the base of the walls of lordly structures soaring
twchQ to eighteen htorlcs high on the light and left
dotted curiously with multiple glass eyes The oh
of the Stock
I l < rvcr pauses to study the elegant design
EcUangc white chaste Us pediment like the Temple
° f Zeus at Olympia adorned with sculptured figure
dart and cluster and on the op
oinoug which pigeons
f nu
Mills Building long
Poalte side of the street tho
the
to tho pioneers In
object of devout admiration
ofllcc buildings for which
evolution of the monster
in tho world and a
Xew York city is preeminent n
building even now not often surpassed In exterior
viices
At No SSHhf skylines western and eastern change
abruptly The summits of the cliffs seem lo burr
broken off in a catacljsrn The buildings though four
01 five doors in height look mean squatty ugly The
vista to the south does not Improve for a thousand
feet and the sightseer mechanically checks his ad
Aance in that direction
It is a quarter to ten oclock Lie notes the fact be
cause two tImepieces one in the window of a car at
No JO and the other llxed atop of an Iron pillar In
front of No JS tell him so almost simullancousb He
wonders why the profusion of chronometers and hi
observes that on the pillar Is a bulletin hOld bearing
notices typewritten and printed A few pcisons are
reading thse and groups appear to be forming hero
and there In the Immediate neighborhood
Sweeping as vigorously as If he had a conscience
or had received a special fee a while wing Is bent
with the toll of making that particular part ol the
roadway as clean as the Amsterdam streets one reads
about but never can find
Then something happens From the basement of
No 3S emerge ijollcemen and a man In an unfamiliar
uniform They are carrying into the road Iron stand
ards and ropey such as are used by the New York
Irntilc squad at points of imfllc congestion
Rnpidlx they rope off a section of the middle of the
toad leaving room enough on each side for the only
passage ot vehicles The arena enclosed extends
with several apertures In the fence of cordage from a
point near the pillar clock to a point about one hun
dred feet south The sightseer peccuh from the
label ou the cap of the man in the unfamiliar toggory
that he Is In the service of the New Yo > k Curb Agency
The Game Is On
It Is five minutes lo Len and by both clocks Iii
the mOil mid bays who are pouring into the enclosure
some issuing from the basements of adjacent build
Ings others coming out of the ground or the air o far
as the sightseer can tell are watching the elect In the
cafe wIndowa strange pseiiologlcal clock on whIch
a raven and an owl might perch a flock with a
quubitb expansive visage half canny half conical as
If It knew whats whut in paper values
In the cnolosure strongly reminding ono of a
platfoiui girdled for a prlefight rr perhaps Oq
souls all told If the day is busy Their ages range
from btojllvo down lo llftoen the hitter Including
a swarm of boys of the messenger type oaring num
bered badges or distingnhhcd bv numbered buttpns
But the majority are neater thirty thou twenty or
forty and In Now York city if you wish to know
time trend of any vocation you must consul or nnnljro
the wan of thirty
w
Twenty Men Arc Using the Deaf and Dumb Alphabet in Conveying Questions I
or Answers I
I
Soft buts of scarlet hue bob around In the mass
Their vveaicrs as you learn by asking are attaches
of n concern that uses this distinctive headgear to
Identify them when the in isb becomes a maelstrom
A fey palm leaf fans art Itl evidence over there Is u
chap with u Sill umbrella All are clad In the thinnest
rnlineut and they need It when the bioiu sun laughs
in Broad 4reet in midsummer
But the men within the rope fire not the only ones
who keep the clock In sight I rom every window of
the building thai overhang the enclosure and even
from n fow that are well beyond the lower end are
peering lynx eyed individuals alert expectant Somo
sit near torsi electric telegraph Intiuments other
near telephones 011 the window ledge of a third
floor n youth noises serenely or swings himself back
and forth with a turnstile window pane Forty fool
and a hard bump for him if he fell Another on tin
opposite sldo of the street leans awn out over tho
sidewalk only a gymnhst could do that regularly
and not como to grief He gesticulates to some onp
below u large sweeping left aim movement ending
In a zigzagging llouilsh < Ills solemnity Is Impro sivu
AboVe the cafe telephone pico Is to lot according to
a sign acres fill building and from the footpath one
can see a double row of telephone booths with nt
toudnnU haul by On each side of the street fixed
upon n buildlusr at height of thirty feel Is a row of
oleclrn light bulbs with number under cvary bull
The onlooker discovers ultimnteh that whqn a light
plow lu a bulb it Is a slgual to a noun wIthin the ropes
that ho Is wanted
The Sign Language
Tlosc PUP In the window are wehd UK o eager
dogged instinct with darcdov iltrv willing1 to Inky
iNks faces framed lu iron gray faces in fussy brown
faces that me smooth fit ClS that arc hiilrv lMoy mo
nil looking at the face > Of the clock and vvaltjnp for
the word fnt
ht I 1 In the Enclosure Strongly Reminding One of a
Platform Girdled for a Prize Fight Are Perhaps
> w f
1
r I f fiP1 Perhaps NQ I
f1 x Y
ingcrs Move Swiftlyin Mystical Styles That
Bear Fortune or Misfortune Measured in
Thousands of Dollars from the Roadbed to
Colleagues in Windows
On the slroko ot tell HUM get it with a shrill ring
ing ol an al urn bell lu the dock and the whole throng
Is on An electrical current has passed through the
onclijsuie and the ceno changes from comparative
quiet to Intense aclivltj Ills as if a Icnalhui she >
lug on the sin face of n lazy semi had been wakened
hy a swoidflsh and was plunging and lashing vvhilo
the waters sprayed and swirled iu the unexpected
struggle of mammoths
New forks curb market Is in operation and the
men and boys participating ire either members of an
association loosely bnuled for security trading purr
loc and hibltuallv using the enclosure bv perm Is
slim of the munkipil authorities and with the tacit
saiicllon of the Stock Rtrhangc or they are the em
ploje of the concerns represented in the subscrip
tion list of the New York Curb AXCMICV
lo a sightseer not mfoiined as to the rules and
methods recognized within the ropes the whole scene
app < ar > to bo n combination of chaos and Babel
As a matter of fact there Is only a minimum of real
confusion The men within the ropes bur mind sell
securities as carefully as the proprietor of a country
general stoic would replenish his wares from silks
lo soaps
Of course it does not look quite so plain and sim
ple Aims uo blandished lurlousjy abuse bends
lingers move swiftly III mystical styles sMaluin < of
lithe bodies spell cabalistic messages that ben for
of dollars
luiio or mlsfoiluno measured In thousands
from the roadbed lo colleague slUlug In windows
or slowed in contiguous h basements or vvllhin casv
reach olsevhere of the market ropes
dead level of
Occasionally a wild yelp breaks Iho
t the ordinary din It marks the strain of a trader In
n moment of agony because he cannot got his connec
tions as quickly as he would like but the police lepu
bilious prohibit unnccc urv noNe and traders
show a laudable desire to uphold the theory that all
souud in the wrong place Is both noise and unneccs
amity 1 piece of paper weighted with metal or pos
slblv in a cartridge Ls hurled from a window to a
trader standing near a rope on the east side It eon
talus an order to buy or sell couched In terms intelll
glble only to sender and recoivor The latter picks It
up waiilv looking around lo sec whether the police
man noticed the Incident
If the Pooh Bah had seen somebody might have
been aneslod for disorderly conduct as the litng
lug of metal Into the enclosure docs not go with Im
punity Offences of all sorts are dealt with promptly
and the oldtlme
and severely on the Curb nowadays
license would nol be tolerated
Twenty men are using the Ilenf and dumb alphabet
In conveying questions or answers to the windows
Can you make out what any of thorn is saying Tuke
the long lean fellow without a collar BAG Q w
for Yukon
What does that mean Js It Esperanto 01
HII Consolidated Qulen sabe
God or Yolapllk for IJay
It is clear
It Is glbbeilKh to all san those to whom
hwy odes ire In use
and sacicd as holy Writ
hit the bulls
mistakes They
and the users make no
e > e every time They are sharpshooters
Many a Code
Indispensable to the
Donf and down i odes arc
trader who speciullo arbitrage busbmess A bright
of alight dliTeremes
willed operator taking advaulngo
and time Boston quotations for
behceu the Now YOlk
uIHI sroik will gnb > theKecuUti ollerejl In
a putiouhn
and slice in
Hub
wire to the
Broad streot Jliiu It bv
as his profit Die eighth In sixteenth as miij be of
AarlutLou But his nci = hllor Is quite as ready to oho
trick b to
and If his mn
the sallie thing If possible
ho phned successtullv his code signalling must bo
kept absolute denser to that neighbor than is a
Saiscril poem to T City Hull lark banana rtonlor H <
nutty loscmblc It lunatic when he stgnal but there
i method and lots of it in his madness
As the sightseer grow somewhat aeustomod tc
the compiles rnoveuieiit within the lopes tho traders
swavbu hither nud thither the boys rushing like fox
hounds following centhe notes certain well de
lined groups that keep lu the main to veil dchucd
i puns of the enclosure
Thcie are no posh such is those on the Stock Ex
chance floor to loeallc trading In pmtlculai sets Oj
securities But In former days some appmitus 01
the soil was employed and the curb iindcis trained
hr the early monuments continue lo respect the oh
tells Today as was the case years aau Staudnrr
Oil has Its place Will the pillar clock Mines are It
the southeast section of the enclosure industrials mimic
railroad storks and bonds are un the north side ant
California oils are In the centre 1
U is a scorching lily the asphalt Is as soft as Kinn f
and the trader nnist keep moving if he Is not to sticl
In the pavement Sudden this form of discomfort
is succeeded b y anothera violent thunderstorm
A scurry of operators from the scene a scurry brcl
to It and trading coos on as before only now every
man has his umbrella or Is clad In oilskin Picture f
winter blizzard and substitute fur coats and heavy
gloves
1ioin the Wall street end of the road comes the fire
signal The thoroughfare musl be cleared and with
lightning speed for the firemen With tho precision
of a tire drill traders seize ropes and standards they
sweep all to one side The engine rolls 1y Back go
topes and standards mstanter Not a full minute
has been lost
It used to be n prevalent notion that the Curb was
a place for horse piny nl practical Joking but a new
era Is In progress During a dull session and possibly
during the lehitively quiet hours of a busy one a few
husk luippx fellows brimming with a wholesome
inimillsm Indulge occasionally in skylarking of a
discreet sort but the pollee regulations forbid this
in so nanny words and it Is never Carried for
Tiadlug outside the ropes Is prohibited bv common
consent The sidewalks are kept dear at all times t
by the traffic squid and the functionary who has
supervised till Job of late is sild to be a personage
who will stand no nonsense Trading as conducted
at present ou the Curb Is neither nn obstruction nol t
au annoyance to the other business of the ilclaagc
Ideas Dispelled
There isyet another notion regarding this public
market hut requires amendment It has to do with
the limits of freedom in trading While the Curb Is
open to all who wish to mule on It hcthcr they do
or do not share la creating the fund for the upkeep of
the Cuth Agemv the solo administrative factor rev
ognlcd the contributors to the ngenc look upon all
contributors as strangers mind a stranger if he
Intends to trade In the enclosure would do well to
take his securities or his cash with him A list of
euntnbutors the contribution being S 25 njeir can i
be Inspected at the Curb Agency No Ii Wall street
There also the Father of the Curb may be in
spected by any person who wishes to contrast his
alike manner with hh form III the rlug Just
turned sixty m robust health active as u cat Lr S
Mendols who halls loin Louisiana Ls often do
scilbed as a Louisiana tiger Soft and oven purl
Inj when smoothed the right way he roar like a wild
beast when anybody steps on the toe of a curl tiadl
tloti 01 icgulatloii It Is his duty to diampiun both
and he does the whole tedious rborlou ninny sided
task for a nominal anancial onsldeiatiun
Except police super liucndeiice and the niuinti
hundred subscribers
sauce nf the roadbed the two
to the agency look to Mr Mendels to provide In the
ugliest degree practicable whatever Is reipilsllo for
their convenience and safety in trading He Is thit i
ugh ookUorum the only tiling of the kind cxtnnt
III business though itxeutlv he assoclatod with him
elf a committee of adviser including uiiie of the
nost inlluential men who deal In the outside mal
et
+ 40
It is fivo minutes < o three p M bj the clock hat
da of Here competition Is end
mist be oboved A lit
beeu carried through
ng Large transactions inc
rinlshlng toiuhc > arc
and won
iiibstantial sUms lost
mini put to scores of deals Wl ws rglng puuto
mime facial canton lUlls of grotesque suggestiveness
IIP everywhere in the urging throng arms wave
hurt heads like thu tops of blasting pines In a
whlll
Throe shuqp The alarm sounds warnlURly per
mptorily Trading It over the lopes and standards
re remruid In a JUT the the hundred Bcalter in
dual quota
1111 directions newspaper men seek the
inter Broad street looks as It
Ions rtvc mlnutee
and the hlgii
oclock In the Morning
llill IH nine
with the culls
the north echo
rails of tho ravine on
ponderously down to pick up ur
moving
of motor cart
mournful sound not toJ
f DW iixnrlon > liadeih a
upllcated cast of a Colorado gulch
I
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