Business Digest Volume 5

Business Digest Volume 5

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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. 1918 edition. Excerpt: ...about the finest tip in the world that Steel was a good buy, and we would immediately load up. We can afford to, as we have several millions capital. But we might spoil Mr. Frick's game if we did that, so he goes to some firm that has so small a capital that it cannot do anything but a strictly brokerage business. Another rea son he would go to a small firm is because no one can attach any significance to it, and having significance attached to their buying or selling is what the big fellows use all the wits they have to prevent." Mr. Frick is not only one of the half dozen richest men in the country but one of the largest owners---if not the largest individual owner---of many important stocks, and so Wall Street watches his slightest move with interest. He is supposed to have favored a certain large brokerage firm and is known to be on terms of close friendship with two of its partners. Another broker, whose ofiices are close by those of this house with its imagined regal patronage, was discussing the subject and announced with wide-eyed surprise: "I hear F rick bought 100,000 shares of Steel the other day and not a share went thru the house next door." "Of course they don't handle Frick's orders," said a man who is perhaps closer to the actual detailed daily machinery of Wall Street than any other, "but Frick wants people to think they do. Why, it saves him thousands of dollars to be seen playing a rubber of whist at the Metropolitan Club with his friend"--naming the senior partner of the firm--"or to be seen dining with him. "Do you suppose these big men ever do the obvious thing? Camouflage was used in Wall Street before the French ever heard of the more

Product details

  • Paperback | 800 pages
  • 189 x 246 x 40mm | 1,402g
  • United States
  • English
  • black & white illustrations
  • 123693685X
  • 9781236936851