Belmont chronicle. [volume] (St. Clairsville, Ohio) 1855-1973, 1870-04-28
Men ana Mysteries ar wan 9,

| Men and Mysteries of Wall Street, -
we take the following interesting gossip:
The newspaper belief that Vanderbilt
never ''goes back on' his friends
is not generally assumed as truthful by
| brokers.
There Is tradition that in years gone
| by, when the Commodore used to ride
down to the old homestead on Staten
| Island, he would now and then meet a
man who courteously offered to hold his
horse. Something in the appearance of
the stranger struck Vanderbuilt, and he
inquired into his history. He had been,
it seemed, broker "in the street,n and,
having failed badly, had decided to fol-
low Horace Greeley's recommendation
and take to country life
"lf you will come to the city, will
start you again." said the king of Cen
tTal.
No one could be more grateful than
the Staten Islander. He returned to
Broad street, acted upon the Commo-
dore's hints, and in due time began to
prosper. Brokers soon had faith in this
protcge of the great man. They watch
ed his movements at the board, and
bought or sold in accordance.
| One day the Commodore was planning
| NPSAoOiois III COIllS Il, SGek-
ing for a point. PPM buying" said the
railway lord.
Blank buys bravely-the street fol-
lows. Presently down slips the stock,
and the Staten Islander is henceforth a
lame duck" Zone of the Commo-
dore's stool-pigeOns, is what the irate
brokers chose to name him.
Similar incidents, trustworthy or
| otherwise, are narrated by the dozen.
Horace Clark, Vanderbilt's son-in-
law, was always favorite with the
stately old gentleman. The current
gossip about his marriage is not lacking
in amusement.
Clark was high spirited, even when
poor. Having decided to wed the
young lady, he called upon his future
father-in-law, and, without preliminary
began:
Commodore, wish your daughter
in marriage"
''Hey?" quoth the money king,
Clark repeated his words.
You mean you want my money, ;"
growled Vanderbilt, from his chair.
You and your daughter be id !"
famed out the young lawyer, as he
! clenched his hat in his hand, and turned
TO leave the room.
Hold on, young man." said Wander
| bilt, Strengthening himself on his feet,
and looking wonderfully suave and
paternal; "hold on. rather like you.
didn't say you should not have my
daughter. You may hare her. rather
LIKE you, young man"
Clark never did get much of tho Gem
modore's money, except in indirect
ways. He had shares in speculations,
and was always we'll supplied with
points. Once Vanderbilt determined 70
''use" him. Clark lost hundreds of
| thousands of dollars. He boldly told
his father-in-law what he thought of it :,
| and after time the losses were made
| made good. This habit OF utilizing
everybody has been exercised, if we
| may trust rumor, on nearly every mem
Der of the family. William Vanderbilt
is credited with having been favored in
this way. One day his father came to
him and suggested that he had better
sell Hudson; ITO was too high for it.
THANK you," said the son.
Nevertheless, William concluded to
look about him first. The stock kept
steady, with ups and downs of fractions
of one per cent. By peculiar ways 1T
was discovered that tho elder Vanderbilt
was buying quietly.
William determined to follow suit
Up jumped the stock to l37. 1t was a
clear twenty-six per cent. in pocket.
When the operation was concluded,
the Commodore rode round to the son's
Office.
We'll, William, how much did you
lose?"
~ went in at 10 on 100000 shares
That ought to make me two hundred
and sixty thousand dollars-"
Very bad luck, William" quoth the
father, trying to look extremely troubled
VERY bad luck, this time"
'But then | bought, and so made.n
Hey? What sent you doing that,
80, heard that was your line, and so
concluded that you meant long instead
short"
"Ahem!" croaked Vanderbilt, pere, as
he buttoned up his fur overcoat, and
striked out of the door. He has always
had high opinion of William since
that event.
1t is hard to put faith in the Staten
Island story, in view of some unques-
toned facts. That Vanderbilt should
occasionally mislead here and there
member of his patriarchal household
seems not at all'improbable, as in such
cases he can always make amends, and
the policy may be very naturally a sine
qua non in the success of his Schemes
But there are not lew examples of his
steadtast and undertaking friendship
toward men who in some way have hap
pened to attract him. John NJ. Tobin
belongs to this class. He was a curb
stone operator before 1862, rather un-
lucky in speculations, and with only
two or three thousand dollars capital.
Taking the Commodore as guiding
star, he began to purchase heavily i'm
mediately upon the first greenback
issue. Stocks went up. He cleared
$500, 900 Then he began to extend him
self. His favorite style was to bid seller
or seller 80. His imitators followed in
tue same line. The bears grew dubious
and began to cover. IF he changed his
mind about the prospects of the stock,
the rise thus effected by his tactics en-
abled him TO sell to advantage. He
foresaw the crash of 'si, and unloaded
the last of March. He habitually "bull-
ed' stocks and "beared" gold. He
shone in the Harlem corners, and can
not have made much less than three
millions. In the first corner he was
cunning as fox. He wandered through
Wall street looking pale and thin and
weary. His friends whispered that he
was broken down by anxiety on account
of the immense amount of stock he was
carrying. The street was deluded, and
sold short. In faro, he is reported to
havs won sixty thousand dollars OF
Morriasey in one night. The game con-
tinued, and the gladiatorial member of
Congress soon recovered all his losses
and much moro besides. ToDin refused
to pay the balance, and Morrisey never
alludes to the circumstance without find
ng the English language unequal to
is indignation.