private-wire house

Definitions

A brokerage company with a telegraph line, telephone line, or electronic communication network.

Canada, US, obsolete

Examples

“All the private-wire houses were active on the selling side, those most talked of in connection with the Wall Street bull interest⟳ being the most active.”

“Commission men, as a rule⟳, will not accept⟳ discretionary orders. Their risk⟳ is great enough when directions are explicit. The following is the eloquent plea made, in a letter to a private-wire house, …”

“Edward Leland of the firm of Leland Ware, which in its line did the biggest private-wire business in the country, was expelled from the Chicago Stock⟳ Exchange⟳ today on the general charge of indulging in methods detrimental to the interests and contrary to the rules of the institution of which he had been a member only a year.”

CEFR level