The Game in Wall Street, and How to Play It Successfully (Paperback)

This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1898 edition. Excerpt: ... PART II. One of the first things to notice is that only SEVEN OR EIGHT TRUMP CARDS are used for the most part in playing this game. Seven or eight stocks out of more than a hundred and thirty on the board contribute three-fourths of the transactions on the exchanges. You had better confine your attention to these and hold only these cards in your hand. These are the stocks that are manipulated by the big pools. If you will run your eye down the column of "numbers of shares sold" in the daily report, you will at once pick out the stocks that are handled by these pools. For the last five years Sugar has been the leading card on the board. Tobacco at times comes next, and St. Paul is a good third; Burlington and Rock Island come next. Manhattan, Chicago or Peoples' Gas and Union Pacific preferred. All of these constitute the principal pool cards to-day. Time was when Atchison and Reading and Lackawanna and Missouri Pacific and other favorites were used; but these have been discarded for the most part, and the list given above are the ones to-day. New cards may be taken up from time to time and old ones thrown aside, but take the year through only seven or eight cards are used as trumps, and ninetenths of the transactions will be in these particular stocks. Toward the end of the campaign, either on the bull or bear side, the outside stocks will be made use of more prominently. To succeed you must study the manipulation of the pool cards. Confine your transactions to these. POOL STOCKS AND SPECIALTIES. As we have said there are six or eight stocks handled by the big pools; the rest of the stocks may be called "specialties." Should one deal in the pool stocks or the "specialties?" At the beginning and during the first half of both the bull and...