CHAPTER II.

THE EXCHANGE.

The Exchange of the Ancients—Royal Exchange—New York Chamber of Commerce—American Boards of Trade—Scope of the Exchange—“Speculating” and Gambling—“Corners”—The Operator and the Speculator—An Incident—The “Scalper”—The “Guerilla”—“Longs” and “Shorts”—“Forcing Quotations”—“Flying Kites”—“Puts,” “Calls,” and “Straddles”—Fictitious News—Tempting Bait—A Day’s Session on a Western Exchange—Regrets versus Stoicism—Interior Arrangement of a Great Mart—Extraordinary Judicial Powers—A Travesty on Equity—Bucket Shops—The Exchange as a Factor in Civilization—The “Clock” 577-606