Eastern times. [volume] (Bath, Me.) 1846-1857, 1853-03-17
A California Flour Speculator.

The recent high price of -four in California,
was not SO much the result of scarcity as of a
well laid speculation plot. Many large for
tunes were made by the rise in the article but
thousands endured great sufferings from the
scarcity of food. Such spccuations in the
necessaries of life ought to be put down by Ie-
gal enactment everywhere. The great leader
in the -four crisis in California is described as
follows by San Francisco correspondent of
the Boston Post -.
Tie principal and leader in the late flour
cFlsIs which has shaken up so many from
their natural elevation 10 an unnatural emf
nence, was German named Friedlander,
VINO had been previously at work in the
mIues. by dInt of hard labor and persever-
ance he bad amassed some $780, and came
to The CITY eighteen months since for the pur-
pose OF investing it, hoping by prudence and
discretion to place il in such manner that
II would yield living more preferable than
that obtained by pick and shovel. Commenc-
ing as broker he gradually became init
mate with prominent business men, who rec
ognized in him at once a superior business
tact, and Judicious, correct, and ar-seeing
man. Moned individuals who acted upon
his advice found themselves unusually fortu-
nate, and finally reposed the highest conf
dence IN his opinions and predictions. His
hrst granu move Was in The article of pork
which was selling at that time for less than
actual cost 10 the stdtes. An idea was prev
aIent that the stock in the country was enor-
nous: more than sufficient for twelve
months supply. BY acute inquiry and ac-
A1tnu al1R I. r.. 4 II
erroneous in great measure and conceived
the idea Of turning il to bis immediate adj
vantage. He laid before certain wealthy par
ties complete statement of the amount held,
the prices asked, quality and quantity and
the number of shipments on their way hith-
er. He'convinced them Of the feasibility Of
a bold stroke, reserving carefully the pros
pect Of proper emolument 10 himself
They commenced their purchases: the COM
modify rose rapidly, and in few months was
al from 200 10 300 per cent. advance on first
cost. All concerned netted large and brill
liant profits and the brokers' reputation was
made. Flour then began to be considered n
fair inducement for enterprising investments.
From TO 80 it rose until it gained the enor-
nous price of $45. Its vaciIlatons were the
results Of the closest scrutiny and most adj
mirable judgment; the bulls making judic-
ious moves and receiving the necessary re-
sponses TO the bears. The limld were made
to sell and then 10 buy, to sell again, and at
last buy when the prices were stretched to
their greatest possible tention and 10 find
themselves swamped and duped, and an ex-
position of The means. or consolation for the
end, wanting. MIR. FriedIander was most
active the whole Of the time, aud finally came
out with fortune Of half million, receiving
the acknowledged cognomen Of Prince Of
the Flour Dealers His cctemporaries were
in no way miserable, however, and allowed
themselves satisfied each with respectable
fortunes. As their names and respective sue
cessess are fixed facts in the city, mention
of them at home can occasion no harm, so