, 1865-11-14
: STOCK GAMBLING,
The 0 CoEners' In Prairie Du Chi

| The " corner" In Prairie Du Chf60.
fFfom The New York Evening Post, 1oth.l
Wall street has lately been reused from its
] pormnI quiet BY m operation which has cast
nct.", The stock Of tho Milwaukee md pralr3o
| du Chieu Railway has I3sen from Is to so.
and quite number Of "short" contracts still
remain uncovered. Much over million
| dolla1a has been made and lost tn this stock
within week, and II Is possible that before
| the outstanding contracts arc settled, another
million dollars VIII change bands Lee VI
tell the story II detail.
First, as to the stock concerned. The rail-
read from Milwaukee, Wisconsin, to the Nls-
iss'ppi, lo3 miles, with branch from Milton
10 Monroe, u miles, In all 2S4 miles, way
| completed IN 1857 BY she Mississippi and Mil
NAuhee railroad, sfa cost Of about &, 100, 600,
I 9a5 tJ,sW Per mile-not an exorbita1t price
!se1 xaeo1tuaateiy Tor the company, the crisis Of
1sos .tta, ada tns e. short crops OF 1857 aud 1853
| lsslppi and Milwaukee Company conld cot
| pay the interest On III 6onda. thew
were duly forcclosed, and the property passed
INTO the hands Of the Milwaukee, aud Prairie
BORN m 1n nf th, a ashs, o9emRRany oe tR corporation
Tho new company was organized with an A.
| grceate capital Of about 51,aD ooo. II ef,-
i joycd the rnre advantage OF being we'll man.
aged. It participated In the general dcyclon-
menl Of the Western country. It's earnings
mus gtcW rom "a an average q million, prior
S2,oCU,00 zoo in the current ycar-say = pcr
cent. sross on the capital represented.
Under the articles OF organization OF the
Miwankes and FrasIio du CHEN Railway. the
common STOCK could receive no dividends 80
,qns as Inc concern owed any funded debt
hence, It's value was always q matter OF un-
certainty. At the time the business OF the
eempanJ began TO revive, alter the reorganl-
zation, ~ was Considered fair price; in the
iaii neat o. me speculation OF ls6l % WAS
bid lor lo,uto shares aud nsain, IN the de-
preston OF the early mouths Of 1865, It Waa
offered Mt -. At the beginning Of October,
1855, It was selling at W@b5.
az tnis tnne u was apparent that within q
: snort period, SIX to twelve months At most,
the wh9ie funaed debt, amounting to less
tnah Eau million, would De paid OF or
converted INTO stock and thnt tho stock
Kon!d, WltnM SIX OF Twelve months, become
dividend bearing. The prospects Led, on the
one hand, to considerable purchases and On
the other to some lively speculation for the
who ase prepared 10 bet against auythine.
There many who were Willinr to taFc
the odds against there befnq anY dfVi.
dcnds on Prairie du Chen during lie
wear 1sed. These onerato~s 5crsnad
:comtort rom. consultations With ''the the
Directors Of the Board, who. having no intar-
est in tho common stock. and heinz evcir-
siTely concerned for the preferred STOCK and
lnorirpee bonds. were onite nrnnored tn
pledge themselves that the common STOCK
holders Should not receive n dollar mil fsr.t
The debt hud been extineuishrI sccnndly
tbe nrctcrreIl stocE bati 1ssen -adnccT ",J'
Thirdly. the roa1 and pnnin,nsnt bnd ha"T,
brought into high Condition of renair and
"Reminiscences. MIN encb ass,rencas III, rs.s. ~.
Mar keors NJ Wa1 at-cot ha-1o,, -, sn,s 80
the co1nrnon stoct or NE PEair;a Jr VIA. neG ~
G,t,ro 1oI;rcs. -~A y" sNs 4"A4A ~ "a So1en 4o1