Wall Street Telegraph Code
Private Code Book and Rules for Trading
Publication: Boston: Charles A. Stoneham & Co., [1909].
Notes: An uncommon Wall Street telegraph code book, which made it possible for trade orders to be transmitted by telegram without revealing the details of the order. For example, "If a client wishes to telegraph an order to buy 1,000 shares of Goldfield Consolidated at $8.00 per share, his telegram would read as follows: Affront Dumpy Monition. Reference to the Code Book will show that 'Affront' reads 'Buy 1,000 shares'; 'Dumpy,' 'Goldfield Consolidated'; 'Monition,' '$8.00'. If the stock is purchased, the broker will telegraph back, Bigamy Dumpy Monition, which is deciphered as 'Bought 1,000 shares Goldfield Consolidated at $8.00."
Using a telegraph code also saved money, as telegrams typically charged by the word.
The brokerage that issued this code book, Charles A. Stoneham & Co., specialized in banking, mining, and railroad stocks, and they issued reports on the stocks they covered. A couple of sample reports are included at the end of this book. The book is not dated, but it includes a chapter on the Curb Price Record for January 1909.
200 pages. 4-1/4 by 6-3/4 inches.
Edition + Condition: A very good to near fine copy.
Item No: #361577
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