Dictionary.net

A species of stocks which are bought and sold to a great extent in New York. Unlike articles of merchandise, which may be seen and examined by the dealer, and which always have an intrinsic value in every fluctuation of the market, these stocks are wholly wrapped in mystery. No one knows anything about them except the officers and directors of the companies, who, from their position, are not the most likely men to tell the truth. They serve no other purpose, therefore, than as the representative of value in stock gambling. Nearly all the fluctuations in their prices are artificial.-Bartlett's Americanisms.