Part 8

The private dealings made outside the Exchanges. A curb-stone broker is a familiar figure and carries on his business every day in Wall Street.

"INSIDERS."

There are two classes of Wall Street men known as "insiders." One is a class which is really inside. Officials of Corporations, of banks and Trust Companies and wealthy financiers who really control the properties dealt in the Exchanges are really "insiders." They control the market, but never give out under any circumstances any information, and in most cases they do not know themselves just what they are going to do from one day to the next.

The other set of "insiders" are those who only make the "lamb" think they are on the inside. They never have any money of their own to speculate with, and they sell their "knowledge" to outsiders for fraction profits when there are any. They advertise and give out their pretended information, and have it sent out all over the world, knowing that every city and town may be depended upon to produce "lambs."

BUCKET SHOPS.

A place where you can bet whether a stock will go up or down. You do the guessing and the "bucket shop" makes the money. If you win sometimes you get your money back and sometimes you don't.

"TIPSTERS."

The "tipster" in Wall Street is like the tout on the race track. He pretends to know all about it, and is a very solemn and mysterious individual. He tells one man to buy and another to sell, knowing that whichever way the market goes one of them will be a winner, and the "tipster" will get his share. The one who wins tells his friends, who think the "tipster" must be a wonderfully shrewd individual, and in this way he builds up a profitable business, and the "lambs" come flocking his way. He keeps on telling one set of his victims to buy a certain stock, and another set to sell it. Whether the stock goes up or down the "tipster" wins, and those who are on the right side of this particular deal spread his name and fame among their acquaintances.

"INFORMATION BUREAUS."

These bureaus are "tipsters" pure and simple, only they travel under the name of a "bureau," instead of their individual names.

"A SCALPER."

One who is in the market continually guessing and gambling on the rise or fall. He risks a thousand dollars to gain twelve and one-half dollars.

DEALING ON MARGIN.

This means that the buyer of a stock only deposits with his broker a small part of the value of the shares he is buying or selling. He is simply gambling, and very hazardous gambling it is. If he guesses wrong, he must pay up more and more margin or lose altogether. Dealing on margin is the favorite sport of the "lambs," and it is very profitable, indeed, to those who take advantage of their misfortunes. The odds are all against the speculator on margin, and sooner or later his money disappears and he disappears with it.

A SUCCESSFUL OPERATOR.

A man who is neither "bull" nor a "bear," but simply waits and takes advantage of opportunities. He knows the power of money. He knows the weakness of the public, and how gullible it is. He knows how to worry and scare the people. He sets his machine for the game and gets it. Ordinary market affairs do not interest him. When a "squall" appears he is notified instantly, and gets ready for business. He knows all about the stocks that he deals in, precisely what they are, and just what to do. He knows what to buy and just to a fraction when to commence to buy it. He gives his orders, pays no more attention to it, except to see how much he got. He buys just as closely to the bottom as it is possible to get, and when it is all over he goes away happy, asking to be notified when the market is up again.

CONCLUSION.

The contents of this book, including the Wall Street definitions given above, should give the reader a pretty clear idea of what is done on the New York Stock Exchange, and just why and how the blundering public is continually losing its money and giving Wall Street a black name.

It should convince you that you cannot afford to attack Wall Street by the methods that have been tried so many thousands of times and found to be utter failures.

About the worst possible thing that can happen to a man is to take a "flyer" in Wall Street and win. His winning convinces him beyond a doubt that he knows all about it, and he goes deeper and deeper, sometimes winning a little, but oftener losing, until some extraordinary turn of the market, some unforeseen incident, or some reckless piece of speculation wipes him out. That is the record of the guesses of ninety-nine out of a hundred men who try to take money out of Wall Street.

What is the use of following right along in their footsteps and trusting to dumb luck or something of that sort to pull you out?

If you have any money that you want to make money with, go into Wall Street through our medium, and place your money in hands where it will not only be perfectly safe, but where it will be handled in the only way that can possibly beat Wall Street.

There is no doubt at all about this.

The thing can be done, has been done, is being done, and will always be done.

And the men who are doing it are piling up enormous fortunes for themselves, they are the only men who get the money in the end.

If you want to be on their side instead of on the losing side, the only possible way you can do so is in the manner outlined in this book and we offer you the best, most favorable and safest opportunity.

QUESTIONS AND ANSWERS.

Q. How many small "lots" can you handle with a capital of one hundred thousand dollars?