WOMEN AS SPECULATORS.

Otago Daily Times, Issue 11403, 21 April 1899, Page 6

WOMEN AS SPECULATORS.

INTERVIEWS WITH MELBOURNE

BROKERS.

(Melbourne Argu.<),

"Do women speculate?-"

"I should think they do," said a wellknown member of the Stock Exchange of Melbourne with a chuckle, " and they speculate very freely, too. Why, ybti might hardly credit it, but that lady who just went out as j-ou came- in has taken away a cheque for £300, representing her profits on the transactions of one week. Of course, I do not say that- they are all like that, but I have one or two exceptionally'heavy feminine plungers on my books. You would bo surprised at the amount of money that we place in mining investments for lady clients every week, and the great majority of them are very shrewd, too. Tjloy often get good information, even before it comes to us, and it puzzles me to know how they manage it. But, after all, a woman lias belter opportunities than a man sometimes for getting information." Thestockbroker allowed a gloam of humour to flit across his fnco for a moment, but the-business aspect of the-., qupslion re-asserted itself, and he became grave once more. " Our. lady customers come from all-classes of society," he continued,"'.'.and a considerable proportion of them are employed in the large business establishments of the city. They subscribe to-

;:;etlici- and buy -small parcels of shares jointly, ci'l.mftiiiff one of their number to <\o thebusine.;?. "I toll you what it is; there is a splendid opening' for a fin- rt" business woman to go into the hu'sinci'S of jobbing. A smart- woman could make £4-00' or £500 a-ye.nr easily as soon as sho. know .the ropes'a-bit, for women .who wanted to invest small sutra would "approach her more readily, than they- wouki go to a broker's office. As soon as' she got their orders nhe would place them with'.sorne recognised member of the Exchange. The clients would havo to pay a little extra for brokerage", because she would want her commission as well as the member of'the Exchange, but il.would greatly facilitate business. Oh, it's r.ot a new idea of my dwn, either, for; 20 years ago. there wa's a woman broker in .Melbourne —a Mrs Annie Barker—who did remarkably well.until she allowed her zeal to outrun her discretion, and .'then''she'came to grief. She used to do a' great deal of business with our firm. You must understand that the majority'of women are people of small means, but little fish 'arc sweet; and the total of their investments is considerable. If I had a real live business woman- attached to this office, and she had the.cpmmand of the information which comes to the office cvei-K, morninp, she could make a small: fortune ni commission alone. Twp clever women have gone into the business in London, and have done well at it. " Women follow eacli other greatly in mining speculations.- A few years ago a quietlooking little.woman from one of the northern suburbs brought1 in 150 sovereigns in a bag one 'Monday morning, and instructed me to buy a certain stock, the shares being then quoted at 10s. I told her that I had no information justifying; the supposition that there was going to be,a rise, and advised her to think well'before putting co much money into the mine/.but she said, 'Never mind, I want them,' a'nd'l 'bought them accordingly. The shares began to rise next day..and shortly afterwards I 1 sold them for her. and realised a, profit of '£700' for her., I came to the conclusion t-lmt die, knew more than I did about that particular mine. She was the wife of a shopkeeper. TJie news of her good fortune went through her street like a fire, and half the. women: in trie district came running to my^'offiee expecting to strike a'similar patch. I.advised them whenever they asked for advice, but of-,course a great many of them lost their rnpiiey.. They make-pretty good losers as a rule.. But when a woman makes up ln;r mind to-buy "a- particular stock you cannot shifthei. I recollect very well a woman'ce-minji in hern with £62 10s inja canvas bag..and instructing me to buy. let us say, Black Slams;' • Now, I knew perfectly well that Black Slags were rotten, and .would never be anything else. ' I don't care,' she said. 'I dreamt, about them, and I want them.' Sr, shejeft the money and went out of the office; When she had cjone I took her canvas hap full pf.monef; "sealed it up. and placed it in my safe. Black Slags soon bad the bottom knocked out, and gradually began to drop. Presently my client came back with a very long'face,' rind'asl^ed. me if I could get anythintr at all.for.her Black ,Slag scrip. I told her. that.the"]shares were not worth the paper they were' written on, and gave her- a good fright, but when she was leaving the office in a very dejected, state I called her back, and handed her'1 the"bag out of the safe. 'My money!' she said,, with tears in her eyes. 'My ninnpy!' And 'she rushed out of the office without even saying ' Thank you.' I have never seen her from that" day to this.

" Mining women as a class are more particular about getting information tlian men. I may say, too, that. I am more certain of my inqncy from the women than from the men. In, all my dealing1' with them I have never lost a tjennv. by the orders of women speculators. No doubt they. so just for a gamble in. a ■ great number of cases: 'I know one woman,'who turns over £200: a week, but I,fancy.that she acts as an agent for ~the whole :-the large establishment where she is employed. It is astonishing what good information some of them get, nnd I often find that they give me. a- load. I should sny.-that by. far the larger number of women spponl;] tors are persons who nro connected with mjviir.e ■'l-hroujr'n their husbands or brothers or other relatives. The successful ones, turn ,up in all sorts of Ptrcmjio places, and I -0011101 show you a girl ejjjnlnyecl if :t'tnbai'conipt's shop who has made over £600 in the last six months out of mining shares. Women grumble . ov?r losses more (lirp men, but they always pay, and as a rule wo ara more careful in transanting business for them. I should say that the number of women who speculate is steadily increasing,'and about 10 per cent, of my clients at Ihs nresent time are members of the nnttinoat.ed sex."

Among other;?le'».ding broker's one hears film same story everywhere of steady Rneculating on the' pnrt of 'women. Once infected with the. mining fever, they seldom get over it. but at the. : commencement they often entertain eul'ious notions of business methods. A lady instructed a firm of brokers lately to-soil 50 shires for her in a rortain mine. Ab she was leaving the office •h« -artlfiHslv rmnvked: " OK. .Mr. Dividend. I have instructed two other brolcnrs to sell my 50 shares for me. and I will hand over lh» srnp to whichpvov of you gels the Jwt nrice fov the g.irrpl." Needless to say. Mr Dividend did 'riot do her business. Another Inch', who Rhowfic! ■», dnnjerous .■•mniint of • resourcefulness, arrived from n. neighbours? oniony to.exiil"it./the possibilities of tlin Melbourne Stock' TCxrbarnre. She had a bier bag full of sovereigns with her, and. selecting acertain stoo'r, she commenced to crea(e s\, brisk demand for it by buying largely thronsrh Mr A. At the samp time she was soiling through Mr 8., and she continued to sell herself her own stock at gradually increasing nrices, until by this ingenious process she had run the share? up to £10 apiece. Then one Saturday morning she went, into the office of the brokers whom she had instructed to sell and delivered to them just before "I o'clock the serin which she had instructed the other firm to buy. takintr a chenue for the amount. Of course the serin could not be delivered until Monday to the birring broker, and by Monday the ingenious lady speculator had disappeared, leaving; the buying broker with ihe shares and with no client to take them from him. She had taken with her, to console herself in retirement, a bap" of sovereigns very much heavier than that which she had originally brought with her.

"Every fresh find."'observed a well-known memto of the Stock Exchange, " brings a few uddili&ns to tl>° ranks of the women speculators; The other day _ two ladies—moMior fid daughter—came into my office and asked tlin price nf certain shnres which stood at ls: 6d. When I told them; Hip ;,"onnpfpr lady, resolved to plunge heavily, and ordered me'lo l>ny guess how manv?—2s! T)ic olfl lady's blood was up, and she too, resolved to nlunp'o. so she ordered another ?5 for hot-self. The transaction amounted to B7> 15s! That represents a cl.iss of transaction .which we are often asked to carry out In- ladies. We got a stood many w)>o are married aid don't want their husbands to know thai they speculate. One came in last week nnd pave us her name. say. as >Tettie Black. When she came in next time to sign the scrip she signed her name as ' Snowie White.' and when her attp.nl inn wa« drawn to the discremncv she siniolv smiled and said that her I'lisbind lyiw a dpnr old silly, but he didn't litce her having a flutter."