SIGN LANGUAGE OF THE PIT 



315 



The sign-manual of the pit trader is simplicity 

 itself, and with a very little practice anyone can 

 become adept at it; but it calls for natural apti- 

 tude to be a master of the strategy and general- 

 ship demanded of a good broker. Corn having 

 sold at 48 cents, for instance, a trader catches the 

 eye of some one opposite in the pit who has 

 50,000 bushels to sell, and partly by telepathy, Jq^i-jq~'~7 l- 

 partly by a motion of the clenched fist, signals 

 that he will take the "50 corn" at 48. The seller, 

 in reply, holds up his right hand with the index 

 finger extended horizontally, indicating that he 

 wants 48| cents. The buyer motions acceptance 

 and signals back -J. The two traders note on 

 their cards "Sold 50 at i, Jones" and "Bot 50 at i, 

 Smith." After they leave the pit they meet and 

 check the operation. 



The hand being held horizontally, the 

 clenched fist indicates the price in even cents. 

 Each finger represents an added eighth of a cent 

 up to five-eighths; the extended hand with the 

 fingers close together means three-quarters and 

 the thumb only, signals seven-eigths ; but the 

 whole hand displayed vertically means 25,000 

 bushels, each finger counting 5,000 bushels; 

 whether offered or being bid for, is shown by a 

 slight motion of the hand to or from the trader 

 making the signal. The ofiScial reporter stationed 

 in the pit sees all the signaHng, and party by ob- 

 servation and partly on information given him by 

 the traders, notes the latest price and gives it to 

 a telegraph operator at his side to be "put on the 

 ticker." Thus the price of grain is made every 

 moment of the session and transmitted to all the 

 markets of the world. When understood, the 

 chaos of the pit becomes an intelligible language 

 even to the nonparticipant. 



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