The daily exchange. [volume] (Baltimore, Md.) 1858-1861, 1860-11-24
From the Chicago Democrat
GOOD ADVICE TO INEXPERIENCED STOCK
SPECULATORS-ST0CK GAMBLING ON A

OBSERVATION-DISCLOSURES GAMBLING ON A
MARGIN.
Deen the cause of very heavy loss to large num-
Der OF young men in this city, who have been
gambling in stocks a margin" The way this
little game is managed is somewhat as follows
a young mana clerk in a store, a railroad con-
ductOr,a baggage master, something of that kind
has contrived to accumulate small sum of money
say one hundred dollars. Having got so much he
Is naturally anxious to get little more on the
principle that man never is, but always to be,
best. He reads in the papers of the enormous for
tunes sometimes made by lucky hit in stock-but
then he remembers that to speculate in stocks YOU
must first have them, and that it takes more money
than he has got, as he suppOses, to buy enough to
make rise in any object But he goes to a stock
Or broker and lays his ambition open before him.
Inc broker listens, sympathizes, and finally en-
chants the young man by revealing to him the
s @ys'e tBSe 0 brok putting up margin Here
| ty shares of the Swampve, Red-dog and Eden
railroad. These shares are of hundred dol
lars each, but owing to the present state of affairs
on the ROAD the market value of them is only fifty
dollars. On the completion of the Youcautns
Branch, which connects with this road at Eden the
whole trade of the rich valley of Skunk eek will
be poured over this road, and its earnings will in
crease one hundred per cent A gentleman of vonr
experience, my dear Mr.. Smashtrunk, must see that
under these circumstances the stock of the s. r. &
E.-R. II. must go up, possibly to 500. Now you
may take this forty shares sixty days time.
You shall advance me 50. so on each share margin
and will hold the stock for YOU sixty DAYS Yon
can sell it any time within the sixty DAYS If the
advance is only to S75 your gain will be 81 900; if
1t advances to 500, your gain will be 50 600 or
course 1t Is ridiculous to suppose that the stock will
go below its present rate. If it does however all
you will have to do will be to put up enough ad
dltlonal margin to make it stand me in $50, as |
can sell it to day for that and only agree to hold it
for you for your Accommodation
Dazzed by what appears to him the certainty
OF making $1,000 on an outlay of $780, and the
possibility of making 81 900, the infatuated Smash
NJ md
the nominal owner of forty shares of S. r. & r.
H. Now he reads with avidtv the daily report of
the stock market in the morning papers, and if S.
IT, d r. H. H. Is quoted at 5012 his soul is filled with
JOY Perhaps the stock actually does advance
little. We know of few cases where verv good
thing has been made in this way, but lately the
tnlng mas all been the other way. Smashtrunk
reads, for instance, on Monday, that S. II. q Z. R.
H. is down to As. He grOans in spirit but consoles
himself by the reflection that perhaps the bears are
playing with it, and that reaction will take place.
The next day it is down to then at one iump
to 40 Ills 500 are gone, and it will take three
hundred dollars more for him to get the stock now
His broker info ms him that it will be necessary
for him to put up $500 more margin. He is, of
course, unable to do it, aud the broker saws the
trade is forfeited, as indeed, it is. Smashtrunks
little hundred is gone forever, down the whirlpool
which has engulphed many millions. Perhaps
IN three weeks afterwards he has the modification
OF reading that s. Il. & E. r. hasjgoneup as the
broker said it would to rs, and that if he had been
able to hold it he would have made his 81, 600.
In this way, told, hundreds of our Young
men have lost all the money they had in the world
within the last two or three week. They natural
y feel very about it, and many OF them do not
hesitate about accusing the brokers of designedlv
selling these stock which they knew must deprec-
ate, and thus cheating them out of their maruins
But very probably the brokers acted honestly
enough, and have themselves suffered by the de-
probation in stocks. The fact is that gambling in
stocks is the very worst kind of gambling, and
gambling on a margin is the worst kind of gam
bling in stocks. 1t is the lowest depths within the
lowest depth. 1t is worse than selling short on
Change, or gambling at faro.
WASHINGTON NEWS
THE TROUBLES IN KANsAs-THE SOUTHERN MOVEMENT
MISCELLANEOUS.
Government has been advised for some time
past, that resistance wOud be made in Kansas to
the sales of New York Indian reserve lands and
that the squatters the portion of the Cherokee
reserve, enormously surveyed bv General Calhoun,
would seek to avenge the burning of their cabins
by direction of Agent COwart. 1t was to check
sn Col sumner Harney was ordered to st. Louis
cded in his action and a considerable 6fSeGn u ae
! goons and mounted ritiemen soon be concen-
| trated at Fort Scott. The Cherokees, who cOnsid-
er that their treaty of 1885 has been violated will
! join the United States troops if necessary.
| Collectors and POstmasters in South Carolina
Georgia and Alabama, are notifying the Depart
ment here that they will not serve under Lincoln
In no case has this revolutionary spirit on the part
of public officers been checked and at the Interior
Department few clerks openly wear the secession
| cockade
The secessiOnists speak with great nffdence of
the success of their plans but hope to defeat the
election of Lincoln and Hamlin by some scheme not
as yet public, but which they aude to as certain
to succeed.
The Republican leaders here, without exception
agree that the new Legislatures Of the Northern
States, which have laws against the enforcement of
the Fugitive Slave Law, should repeal such statutes
! at once.
A noted Republican, who has recently been de-
feated as candidate for reelection to Congress,
! has drawn on the Sergeant-at-Arms for a gOodv
portion of the pay and mileage to which he will be
entitled when the session commences to aid him in
paying election expenses.
| Mr. Gregory, a son of Mayor Gregory, of Jersey
City, who was in Congress few years since,
| married Thursday afternoon to a daughter of the
late Mayor Maury, and fashionable crowd graced
the ceremony.
Arms AND AMMUNITION FOR THE SoUTH.-Hartford,
Conn, has already shipped for Georgia $50 cases
of Sharps patent carbines, 800 in all, and 10000
cartridges with conical balls. The same party has
orders from Alabama for 1000 of the carbines.
Cooper Pond, of New York, have from twenty
to fifty orders daily from South Carolina, Alabama
and Georgia, chiefly for rifles and navy revolvers.
They have also sent twenty gun carriages to Geor-
ga. Another large house in New York has orders
for 5,OOO muskets, U. ). pattern. third large
establishment has supplied immense number of
Colts reyolvers. All the wholesale stores and
agencies are hard pressed to supply orders for
cannon, swords, &c.-Boston Courier.
BLoNDN GONG TO ENaLAND-The immortal
Blondin, whose wonderful feats in this country in
crossing cataracts and spanning trightful chasms
almost GARY nothings," have won for him world
wide reputation, understand is about to visit
London in April next, where, no doubt, he will as
tonish all the folks within the sound Of Bow bells,
and a good many outside Of it. Although he will
find no Niagara to walk over, in the British
tropolis, Journey on the tight rope, say from the
top of st. PauPs to the Monument, would not be
bad feat That Blondin could accomplish it vino
doubts, after what he has done at Niagara?
THE BosroN people of the Radical Abolitionist
school, who believe in John Brown and his memo
ry, are making arrangements for holding meeting
to commemorate the anniversary of his execution
at Harper's Ferry. fremont Temple has been
gagged for the occasion, and the time is set for the
3rd of December, when it is expected Wendell
Phillips, VIM. l.. Garrison, and others, will uTcHuss
the question, GLOW can American slavery be abol-
ished ?''
CLOSE OF LAKE Observation-Disclosures on the
Lakes is rapidly approaching its close Last year
it ceased on the Doth OF November, and there were
then in Chicago, Illinois, 2O7, $40 bushels of grain
in store. At the present time there are about
$500 900 bushels of grain at that place, and they
are receiving about 900 bushels per week.
which will leave much larger amount on hand at
the close of navigation this year than there was in
1859.
RESOURCES OF SoUrH CARoLTNA.-The Cheraw
Sc Gazette says that the real and personal cs-
tate, capital employed in manufacturing, banking
railroads, &c, amount to S342, 526,37S. Annual
q including cotton, rice, corn, WHedl
OATS naval stores, &C., come to $50 725. 3S2 With
such resources, the Gazette thinks, the State can
, easily support, either separate or Southern con-
federate existence.
GOVERNOR BANKS will soon leave Massachusetts,,
for the scene of his future railroad aoors IN the
West On Wednesday evening the citizens of
WoItbam tbo BIRTH place of the Governor, tender
cd 70 CIoTernor Banks and his lady compliments.
!. rv Iaroo The ovation given by the people,
;Trasnective of party. The Governor was presented
= Nth service of plate, and Mrs Banks received
b valuable gold watch.
Dr. Beck, of Dantzg, has been making curious
discovery-he has found the antidote, rather the
counter-poison for alcohol. 1t is a mineral paste,
which he ncloses within an olive, and which, once
absorbed, destroys not only the effects, but also
the consequences of drunkenness. A number of
experiments have been made with very remarkable
results.
Lieut.. W. t. Magruder, U. 5. A, who has for
several months past been engaged in instructing
the volunteer corps of our State in military tao
tics, on Monday last presented with testimo-
NAL of silver by the regiment of cavalry on West
River.
Some of our large manufactures, saws the Boston
Transcript, have been recently taking an account
| of stock, and find that they have cotton on hand
sufficient to last through the winter The Naum-
keag Mills, of Salem have enough of this staple for
use until the first of next October
The Syracuse On. " Journal saws that, at one
time, on Tuesday last, there were in view from the
weigh lock in that city, no less Than thirteen canal