The Kalida venture. [volume] (Kalida, Ohio) 1841-1865, 1845-11-18
From Cst's Advertiser.
THE BUBBLE OF 1887. 1888.

From Csts Advertiser.
THE BUBBLE OF 1887. 1888.
The present generation will long remember
the hot-bed speculations of 1887 and 1888.
A spirit adverse TO making money in the
usual modes was rife throughout the land.-
In Cincinnati we escaped the bubble and its
explosion in great measure. Mitwdukie
and JefersonpilLe may be said TO have been
safety valves 10 us in this respect.
1t was common occurrence OF that period
for man who had made fortunate invest
ments though owing but a few hundreds the
day before, 10 be considered worth as many
hundreds of thousands the day after. Like
all mania of the sort, the decline of the
brilliant prospects was generally as rapid as
their rise. One or two individuals who un-
dersiood the subject better, and did not
suffer their judgments 10 he carried away
into the impracticable or uncertain future,
managed, however, to make hay while the
sun shone, and to make it 10 some purpose
Let me narrate a case Of the kind. a
Isaac c.. Eslton, of Charlottesville, Indiana
entered the SC ction of Land on which Mich
gan City has since been laid off and built
The land. of course, cost a trif1e, compare
tive ". He then went on TO New York
where he laid it off as a town plat; had il
autographed and advertised for sale. Their.
was no deception in the case. This was th'
only port on tho lake which Indiana coul'
ever have; of course all the patronage th'
State could direct TO that quarter, it was surf
to acquire. The residue of the narrative
will give in Mr.. E's. own words, premisin!
that having understood he had laid out
town there, which he yet had on hands, Iva
advising him TO sell while he had chanc,
left. for could assure him, saw that build
inc Tadmors in the wilderness had had thei
, day, and now or never was his time. III
listened very patiently, but with the air Of
man that does moi need advice, and then tol
. me as follows:
"Iwent on to New York, as you know an
had hardly got quarters in the City Hote
:, there, till the spectators were all around mt
: They had seen the Autographs and wer
} keen to buy, but most Of them wanted tobu
: on credit, or at best fifth down. tol
n them this did not suit me, for if there wa
r money to be made, by waiting for it, coul
il afford to wait as well as others. Final.
/ two or three Bank Directors proposed to m
9 to give four hundred thousand dollars for m
e CITY, one half down, the residue in one an
e two years. replied that was determine
not TO sell unless | sold for cash, for it ha
}. 10 wait, | knew could make more none
o out of it before my payments came due tina
@ any amount could get in The way ofpurchas
Y We talked good while, and at last offere
n to sell them the undivided half for two hui
dred and fifty thousand dollars, and the con
n pany finding me resolute, and fancying the
II could make more ont Of it by keeping n
is still interested in the project, accepted Il
N last proposal, and gave me check Tor III
e amount. drew it out Of the bank in 70
leaus Of American gold, packed il up securel
and took il out with me to Crawfofdsvlll
where | have since built as fine house
any in the State. Tho great body Of Il
money is still as safe as the day l got it,
u nv wife has roll Of one thousand eagle
r, which she claims as hers, in her own custod
e and now, my dear fellow, if | never get
ar cent for my share Of Michigan City, it W
III never break me. But the truth is, this
f. none of your humbugs, and the place mu
le become Of vast importance; and if have
IS other use for my money when the compa
a get tired of their purchase, if they ever .
m / shall be ready TO tuy back at II
discount. If had not been hard mon
Of man, should have sold principally on cred
ir pocketed perhaps $40, 900, and taken not
Id for nearly $500, 600 more, of which shou
E. never have received one cent. But my 81
ii Gle currency notions brought me out"