chapter  Chapter X
4 Pages

The “Tip” to Buy or Sell

ByRobert E. Wright, Richard Sylla

One might as well expect the girls who sell oranges, combs, umbrella-rings, and collar-studs, in Lombard Street, to give them away for nothing, as expect to obtain disinterested and genuine “ tips” from some wandering philanthropist. The system of sending round the “tip” to buy or sell, has become very general in all markets, and it is certain that a vast deal of mischief is done by it. The common practice is for a number of persons to band together, and put the price of a certain article or stock up by buying a large quantity and making it scarce. The unqualified “tip” comes from the individual who intends from the first to drive his horse full of armed men into the town, vi et armis, without too much parleying at the gates. The “tip” of a syndicate is passed on, so to speak, for a consideration, in proportion to the amount bought by the clients of the persons employed.