The weekly pioneer and Democrat. [volume] (Saint Paul, Minn. Territory) 1855-1865, 1863-12-04
A CHAPTER ON WALL STREET.
Operations-..The GOvernor,ss and
How he Made q Million.

Au0 1OuO"LuS - quOt0u HOm 0u aTLtclc III
the Boston Post on the public stock exchange
in New York:
At the left of the President (that handsome
Hebrew, Henriques) there il seated, at nearly
every session of the public board, dignified
and sedate, but shrewd looking man, Of per-
haps fifty years, whose face, seldom lit up with
every member of the board throughout the
stormy session. Not that nature has chiseled
there features which his fellows love to look
upon nor that tasteful art has lent its aid to
beautify what else looked symmetry and orna-
ment. Not at all. The "Governor" is no
rival OF Apollo in appearance, and nothing in
his dress indicates any aspirations in that d.
rection. The glances aimed at him are not
those of art connoisseurs, admiring and criti-
cising favorite face or faultless physique:
far from it His fellows watch to catch some
tell tale expression on those cool, calm fea-
TIRES. from which to judge the drift of his
thoughts and the real significance of his fire.
quent bids. But the effort is fruitless; for his
most intimate friend cannot discover, from his
face, whether, when he bids, he wants to buy,
or is waiting his chance to sell. He zen
offers thousand shares, at loss Of as many
dollars, merely to fix price at which he can
buy five thousand shares back again at ten
thousand dollars profit. While the rest laugh
and jest, 1.-THE Governor preserves his
statuesque appearance. as though smile slid
in sin, or joke would cost . fortune. Of
such stuff is the father and creator of the pub
lie stock exchange made up; but there are
few OF his sort besides. There is something
truly Napoleonic about his ''grand, gloomy
and peculiar" position, as he sits there,
wrapped in the solitude of his own original
ity." He can scarcely move or speak without
affecting, in one way or other, the price of the
particular stock at the moment before the
board. If the Go, erLor' buys, the inference
is that it is for fOreseen rise; Ii he sells, a
rush ia imprOvised to stand from under, for
the great Tycoon is getting out"
But few words about the earlier history of
this now famous man. He came to New York
country lad, in search Of elerkship, in
1884, having few hundred dollars in his
pocket. The following year he entered a
Wholesale dry goods store on Pearl street and
asked for position there, saying-"Give me
but chance and will soon draw your checks
and have my name on your sign" The
"chance" was given him; he began at the
bottom, did the sweeping, storing, and bundle
carrying, but for all that became in four years
partner in the firm of John Steward q Co.
"a house well known 10 the merchants of
jobbing firms. For five years he remained
there, and then launched out in new con-
Germ, with $50, 900 capital, to sound the depths
OF that untried sea the Texas trade. Five
years experience and the loss of both profits
and capital, satisfied him that Texas Was Poor
place to go to" for a fortune; he therefore.
in 1917, crawled out of the ruins, and with not
over six hundred dollars in money, embarked
upon that other sea of troubles, Wall street.
He hired an Office in the rear of Jacob Little.
who was then at the zenith of his fame; de-
posted two hundred and fifty dollars in the
bank, and buying q ten shilling table for furni.
ture, ne opened his first accounts in the back
part of some old day-books and ledgers, left
over from his dry-goods days; and in less than
nine months had climbed far enough up the
ladder to have borrowed million and a half
on call, the collaterals for which lay with the
banks whose money he had used
In October, 1858. in such illustrious compa-
ny as Jacob Little our adventurer touched
bottom; chiefly snagged by the effects of the
Schuyler fraud. He was able, however, to pay
every collar Of Indebtedness and to retain, az
he always has, his high character among the
moneyed men of the street. For three or four
way in William street Office. until his health
gave way and his finances. like the retired
physicians sands of life" began to run yery
low. From 1857 to 1859. he forgot Wall
street zoology and occupied himself with fight
Ing the tiger of rheumatism; meanwhile ex-
pending all his means of support, until re.
duced to desperation. he borrowed thousand
'llars on his life insurance policy and started
for Florida in hopes of regaining his health.
Returning with restored health in April,
1859, the Governor" again esaayed life in
Wall street; first, for q year, with partners.
and since then alone. Ever since the war be-
gym he bought largely VIII. never military re-
verse occurred has done business which re-
uuired / IL checks for two millions and a half
daily; las owed as much as thirteen millions at
time; and frequently has owed for weeks to-
gether six million; always planking up salts.
factory collaterals and never overdrawing his
bunk account nor turning c, III shoulder to
fellow operators who need help. However
short at times himself. he could always lend
to others. His operations have been heavier.
q I'd more widely extended and varied, than
Jacob Litt'es ever were; AMI to those who
b W watched these operations and seen pur.
c,ases of Pacific Mail at Sc. (now 1885, of
Pennsylvania Coal at 70. (now 16S, J of Harlem
at 40 (snfe sold by him at 100 of Buffalo and
State Line stock at far below par, aud which
now he holds by the thousand shares at q val
uation of twice or thrice its cost-those who
have seen all this and much more of the same
sort. are not open mouthed with wonder that
A. G Jerome has in less than three years made
himself o real millionaire on a capital of less
than five hundred dollars. It Is remarkable
fact moreover, that speculative stocks do not
form any part of his present fortune that
species of property having been worked off, as
opportunity duOWou, nj AiSucE prices IMAM now
rule.
Nor have the successes of Leonard W. Je-
rome, John M Tobin and E Government
bers Of this same Public Board-been less
magnificent The street is full of stories re-
specting their supend0us operations and their
rapid Accommodations of wealth. Almost fairy
like seems the tale of their fortunate ventures
and financial triumphs. They have as it were,
dreamed Of wealth. and have awakened to find
it really in their grasp. Atanother time it may
be worth while to trace the brief story of their
gains and watch the mushroom growth of
these modern miliionaires.
ESCAPE OF THE REBEL GEN
MORGAN FROM THE OAIO
PENIGENTIARY.
CLEVELAND, Nov. %. John Morgan and
five other rebel officers escaped from the
Columbus penitentiary last night. A re-
ward of 81 600 is Offered for their capture.
CINCINNATI, N " 29-Jlln Morgan and
- LII, ..t1i...r., ~ ..t.,,., p.,p, T.