private-wire house

plural private-wire houses · alternative private wire house

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

   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.

   1894, “Chicago Was Afraid of Wall Street”, The New York Times, February 10, 1894, page 2

   2 more examples

   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, …

   1895, Forest and Stream,, volume 44, page 463

   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.

   1899 December 14, “Chicago Broker Expelled: Large Private Wire House Guilty of Connection with Bucket Shops .”, in The New York Times, page 2