File:Wall Street guide - (1902) (14597949837).jpg

Identifier: wallstreetguide00jlmc (find matches)
Title: Wall Street guide /
Year: 1902 (1900s)
Authors: J.L. McLean & Co.
Subjects: Stock exchanges
Publisher: New York: J.L. McLean
Contributing Library: Columbia University Libraries
Digitizing Sponsor: The Durst Organization

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e two methods of dealing in Puts and Calls,with the exception that the London privileges aresold at the market price at the time of making sale,and you pay a larger price for them, while American Puts and Calls are usually sold at from one tothree or even more points away, at a cheaper rate.The London plan is, however, becoming a favorite inWall Street, and the probability is that more tradingin Puts and Calls* at the market will be seenhereafter. Previous to the great bull market of 1900-01, agreat many Wall Street operators purchased Calls in London on Northern and Union Pacific, and tookmillions of dollars out of the English speculators onthe big movement which took place immediately suc-ceeding our national election. It has been variouslyestimated that members of the London Stock Ex-change lost in the neighborhood of $40,000,000 to far-sighted American speculators who took advantage oftheir privileges, bought at the market price duringthe September depression then prevailing here.
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WALL STREET GUIDE. 25 Trading in Puts and Calls is one of thesafest plans under which an outsider can speculate.You take absolutely no risk, with the exception ofthe amount of money invested, while your profits aresure to be extremely large at times. Of course agreat deal of your success in your operations in Puts and Calls will depend upon the brokerswith whom you deal, and the attention that they giveto these operations, as it is absolutely necessary totake advantage of the full benefits to be derivedfrom these privileges. If you are dealing with a re-sponsible house, you will have no reason to complain onthat score, as it is to the interest of the broker ^o lookafter his customers welfare in every manner possible. Another plan which offers many advantages to thespeculator is to purchase Puts and Calls totrade against. In other words, if you are going tobuy, say 100 U. S. Steel, and you can buy a Puton 100 shares of Steel at the market price, or even oneor two points below the prese

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