The Kalida venture. [volume] (Kalida, Ohio) 1841-1865, 1847-10-05
WHOLE NO. s44.

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mence: another career on this excellent and
safe principle. Failure was impossible. =-s
"Buy when they are low," repeated, "and
sell when they are high. How wonderful,
yet, at the same time, how simpIs!" had oil
along been pursuing the wrong track. My
practice had been, whatever my intentions
were, to buy when they are high, and sell
when they are low; and this had beeh the
result ola want ol patience; and of too much
|prscpitancy in my purchases and sales.
was now in possession Of grand secret, aud
that secret was 10 WAIT, suY Low AND sELL
HIGH IH B E4E AL
Well, did wait, and that most patiently,
for fall of,stocks--- and fall at length occur.
red, a greater one Than had been known for
a long time, and prices were depressed be-.
low what they had been il several monts.s=-
"Now," thought ], "is the time, y take down
my feet from the stove, and walk into the
fanciesj" whersupon went iito Wall street,
and borrowed considerable sum for fort.
night, pledged the stock as security,
according to the modas spefdadi weilun:
derstood in that region Every thing prom
ised well; and felt encouraged, dsslning il
next to impossible that fortune should always
fight against me fought tho stock very
low, comparatively and went home 10 replace
my feet upon the stove, aud whit. patiently
another rise. ~ ...
No rise, however, occurred within the fort.
night that was able TO hold nv new acaui-
sition. Prices moved, Il 10 true, but they
moved the wrong way for me; they .'advan-
ced backward" Thought when purchas.
ed, that they were low enough in all con.
science; but il appears there were lower
depths still 10 which they were destined TO
attain. I did not rait long enough. Tho
principle on which had acted was q good
one-,he fault was in me. .,--,
A man falling from the roof Of house,
would not reach the ground more qickly than
my stock tumbled TO q point five per cent.
below what had given. A new element
had arisen to produce this sudden, unlocked
for, and extraordinary change. The Texas
question came upon the brokers like thun-
derbol', knocking every thing ints cscked-
hat; and the upshot was, that sold my stock
at loss which swept away the remainder of
my capital, and left me as penniless as
street beggar.
This was the last Of my Operations; snd
thus the savings OF several years disappeared.
like dew on summers morning. Nor ID
that the worst feature Of this unfortunate
business; for the excitemen, Of speculation,
the handling Of large sums Of money, the
high wrought expectation Of realizing large
profits in short time, have totally .unftted
me for the labors by which accumulated
what money have lost. How can 10 to
work again on mere salary, tws-thirds Of
which l must spend in support Of my family,
the remainder being petty sum only, which
any lucky broker would make on a clear NOR.
ming at single throws l am ready to die
through pure vexation; but iii not leave tho
ground yet. know friend who will lend
me FIVE hundred dollars, and by hypotheca-
ting the stock shall buy, | can borrow of
Jack Little five thousand. Yes, must have
one more shance--one more---and then,
if fortune iavors me, as she always does the
brave, $50 the Latin grammer declarss,) [
shall soon be on my feet again; but il she
should continue TO frowA. and disappoint my
hopes, will abandon speculation forever
perhaps.