The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1854-08-26

SPECULATION IN ERIE-I have done it Done
wbatg Why, sold out my Erie-realized, a. the
brokers' and spectators say. l had ideal.zed long
enough. Bought at so, and dreamed Of par, or, &c.
cCrdpg to the kI0 wing ones, l20 In less than two
years. At any rate q good investment. Regular
divic ends Of per cent per annuM, whic1 at 80
vculd be just 10 per cent. Went homo elsted.
Stuck the certificate in the India-rubber baud, say
margin for rise.r Felt vertically elongated. Next
mt rning, rose early Taoughs the newspaper car
Iier uncommonly late. He always Is late when i'm.
portant news is expected. At last he came. Took
the paper out Of bis hand and turned to the stock
list Erie, last sales, 81. Good! She goes up. A
hundred and twenty In less than two years! Went
ont and met Mordecai Ben Jezreen, the Jew broker
from Amsterdam. What do you think Of Er!ei"
five hundred dousand month. 1t will pc par In vone
year." "Good again, thought ]. "a Jew never mis-
takes in money matters" Abraham was the very FIRST
Of The sons Of Heth and Weighed out the silver for
it. His posterisy from that very day quit land spec
ulations, and went into stocka Jew knows! Par
in one year" Mordecai ssys. Walked down to w all
street. Went clear through from Trinity to the
East river. Overheard all sorts Of commercial and
monetary terms:-d oilars-cash on time-short-
fan-margin- tight-operators for rise Thought
that ood)--interest- principal -bear-bull, &c,
&c. Went home and waited for the evening paper.
1t came about 4. Locked OF the stock list. Erie
IS. Ehep! What ia the matter carnival Of the
Baltic.' Bank Of England short OF coin. Ede
therefore down to 7S. Railroad riot at Erie, Pa.
and gingerbread! Loss Of at least $25 900 to the
company. Erie goes down to IS. Think OF selling
ont, but can't afford to lose 81 on each SHARE Toas
would be $2l0 dead loss on 30 shares. Advised to
hold on. Difficulty soon over. Touched bottom.
Conclude TO hold on . few days longer. Next
morning teleglsphic despatch from Halifax brings
o weeks later news from Europe. Position
Of Austria and Prussia still doubtful" Eue
goes TO 70. Won's look at the stock List for
week. Looked at stock list next m ,rntng. Erie
down to 81. Thunder Where il the thing going to
Took the certificate out of the India rubber baud,
and walked right down to Wall street, determined
to realize. Met bull He said had better hold
on. Changed my mind, went homo, and nut the
cert cate In the India rubber band. Looked at the
stock list tnat afternoon Erie advanced 1. Good
The tice has turned. Conclude to sell out q So.
Several weeks go by, and Erie hangs at about So.
Arrival of the Atlantic" Lord Raglan hsd said
In Permanent that men yet unborn would shoulder
their muskets in the present waz. Erie went down
to s.. Began to feel mad. Talked with ap old fdeai
worth half million, all in bonds and mortgages
except tan shares Of Erie. Told me to put IL away
and think nothing about 1t til it reached par. That
was the waT be did. He wondered that I, who had
s ss the Ns .b but Ay s hi re- e
far a. could. Put it away, but thought Of It ten
hours on. Of every twelve. A week passed. Schuyler
fraud fell like thousaud bombshes, Kissed like
sa,S t s :ss1ss H. We: ' WSs Erie
soil at 90, s5, 20 Why did boy At all Became,
in Imagination at least,
An the demon made his full descent,
IS In one abundant shower OF cent Per cent.
That's why. Well, after ali, 80 Is q round sum,
and just half way to par. It looks as If il would
stop at so. AT any rate cant think Of selling out
now. Should lose Just 5000 BY the cope a$ion.N
Watched the stock list eagerly as ever. Not salts
fed to wait for the morning and evening pgpers.
Must 20 inc Wall street, and read the list Of Gales
90 tAe brokers books. Erie STANDS about SO. Good
The crisia has reached focus. Think Of buyinx
out at so to bring down the average. Tell Il to
Took his advice. Next ia, q pauic. Iasonoe
bonds due In February. Who didnt know that
be4oref Erie down to Al. Scared outright. Went
home and took tbs certificate out Of the india rub
breath. "Selt-me --thAt- -for.cash." "Any limit,
siigp "No-:ash." In two hours, had the Stun
for 80 shares at AZ. Went homo. Knocked . brick
out Of the wall AID deposited. did Il. Fact
Commercial advertiser.