Chapter 8.
Stan had expected the trading floor of the New York Stock Exchange to be crowded. It was always crowded with men such as himself, buying and selling the shares of the companies that were commercializing the latest advances of science and engineering-electric light, the telephone, the phonograph-improving the lives of people and making the United States into a mighty world power.
But today, the old building on Broad Street, which had already been expanded several times, was far more crowded than the norm. For today, May 17, 1892, was a special day on two accounts. First, it was the Centennial of the founding of the New York Stock Exchange, which dated its existence to the signing of the Buttonwood Agreement on May 17, 1792.
Second, it had been chosen to be the day the new clearinghouse to make the trading of stocks and the settling of accounts more efficient and secure was going into effect. Stockjobbers such as he and his colleagues, investors and bankers were eager to see how it would work.
The traders and investors jammed the floor, along with members of the press and assorted dignitaries, including the President of the Exchange, Mr. Frank Sturgis, whose special project the clearinghouse was.
As he awaited the opening bell, Stan listened to Sturgis’ speech, or at least the platitudes he could make out over the din of the assembled multitudes. This was a great day for the investing public, for New York, for America, and on and on.
Finally, Sturgis wound down, presumably having bored himself into silence and the bell sounded. Stan rushed to one of the designated trading areas, in the hunt for shares of Mr. Thomas Edison’s newly formed company, General Electric, the product of a merger between his Edison General Electric Company and its competitor, the Thomson-Houston Company. He joined the scrum of traders shouting buy and sell orders, looking for a price at which he would be able to turn the shares around later at a profit.
The particularly active trading kept Stan occupied through the morning. He was about to break for lunch, when, glancing up, he noticed a familiar face standing some distance away. It was the man from the next table that night a few weeks ago at Delmonico’s, James Moore, the Minnesota timber and iron ore magnate. That, being in New York, he might want to observe the trading for himself was not a surprise. Doubtless he owned shares in many of the great companies listed here.
What was a surprise was that he had brought with him his daughter, the lovely Barbara. The Stock Exchange was not a place where women were typically found, although Stan had noted a few, probably the wives of one dignitary or another, in attendance this day. But none were as young or as attractive as Barbara.
She looked desperately bored and somewhat disgusted by the screaming, gesticulating men who were behaving, for all the world, like schoolboys on the ballfield. She was looking towards the door to Stan’s left, probably plotting a course to escape this mayhem.
Then, she turned and was looking straight at Stan. He saw her hand go up and wave, ever so delicately, in his direction. Dare he to dream that she was beckoning him over? What would he say to her in front of her father? Stan didn’t know, but he figured he would think of something witty and charming if only he could make his way through the crowd.
He turned trying to circumvent the assembled traders, only to run into the bulky presence of his colleague, Patrick Flanagan.
“Stan, old pal, did you get me those 200 shares for Mr. Taylor?”
“Ah, not yet,” Stan replied. “I want a lower price and no one’s biting.”
“Well, stay at it. I don’t have to tell you that Taylor is a veritable whale. He thinks the clearinghouse will help prices and he may be right. In the meantime, I need to go over and check on our friend Alex.” Alex was how they referred to the Exchange’s most venerable company, The Bank of New York, founded by the illustrious Alexander Hamilton around the time he was helping found the country.
“Yes, sure, Pat,” Stan replied. He looked around desperately for Barbara or even for her father, but they were gone. Then he caught a flash of a female figure, accompanied by a man, about to exit by the door that she had been eyeing before she had turned and looked in his direction.
Muttering “Excuse me, sir,” as he pushed through the milling bodies, he made slow progress. By the time he reached the exit and stood on the street, they were gone, doubtless having hopped into one of the hansom cabs that waited by the curb, heading back to the Plaza or on to some other appointment.
Disappointed, Stan went back inside and joined the scrum of traders.
***
The sight of Barbara and the fact that she had seen him and waved in his direction-or at least Stan had reason to think that she had-was foremost in Stan’s mind as he spent the day buying and selling shares.
Back at the office, as he sat with his colleagues tallying the firm’s gains and losses, Henry noticed his distraction. “Is everything OK, Stan? We had a good day; I think the clearinghouse will work to our advantage, don’t you?”
“Yes, Henry, I am sure that it will. Progress marches on,” Stan replied, without much conviction.
Soon, they were done with their bookkeeping. Stan’s share of their profits for the day was almost $ 100, a very nice sum, indeed. ‘If only I were able to spend it on Barbara,’ he thought. The vision in his mind of her smile and her delicate little hand waving in his direction made him resolve to continue his quest for her, despite the long odds.
He left the office and headed for the elevated train heading uptown. Soon, he was standing in front of the desk at the Plaza looking at the smiling face of Mr. Pellegrino.
“Ah, Mr. Goldman,” the desk clerk greeted him. “So nice to see you again on such a fine evening.”
Stan thought back over their previous encounter. He was quite sure that he hadn’t identified himself. “How do you know my name?” he asked.
Pellegrino’s smile widened, like that of the Cheshire Cat in the wonderful tale of Mr. Lewis Carroll that Stan had read as a boy. “I make it my business to know the people I am dealing with,” he replied.
Stan saw little option but to forge ahead. He reached into his pocket and extracted a $ 10 bill. ‘No point beating around the bush,’ he thought. “Mr. Pellegrino,” he began. “We are both men of the world, so I will cut to the chase.” The desk clerk smiled. “I would be most grateful if you could arrange a private meeting between myself and Miss Moore,” he said.
“Ah, so your business is with her rather than with Mr. Moore,” Pellegrino said, winking at Stan.
“Yes, if you must know, it concerns an affair of the heart rather than an affair of the purse,” Stan said. He believed that Italians were even more expert in that area than the French; after all was not the great lover Casanova one of Pellegrino’s countrymen?
“I’m afraid that’s impossible,” Pellegrino replied.
“Impossible?” Stan asked. “She is still residing in this hotel, is she not?”
“Indeed she is, but she only leaves her room accompanied by her father.”
“But surely the man must go out on business unaccompanied? You could note those occasions and summon her down to the lobby on some pretext or other where I could speak with her. Being a gentleman, I would of course never presume to accompany her to her room, but she must know of the feelings that I hold for her.”
“I’m afraid, Mr. Goldman that would not be possible either. Whenever her father goes out, Barbara is left under the care and supervision of the Swedish chambermaid he hired, Kristina. They stay in the room at all times playing cards, reading, embroidering and generally amusing themselves as women do.”
“What a pity to be in the most exciting city in the world and kept like a caged bird,” Stan remarked.
“Indeed, sir,” Pellegrino replied, winking. “But those are the wishes of Mr. Moore and he is not a man to be trifled with. I suggest that you steer your heart in a different, more fruitful direction.”
Stan sighed. “Thank you for the advice, Mr. Pellegrino,” he said. He considered asking for his $10 back, given how little assistance the desk clerk had provided, but he suspected that would be met only with laughter. Instead he walked back out into the evening and took the train back downtown.