Beaufort Republican. [volume] (Beaufort, S.C.) 1871-1873, 1872-10-10

az am more surprised than | can ex-
press" was the young mans remark.
"My father hurt by wine? 1t seems i'm
possible, Are you very sure about this
thing, Mr.. ClsrksonT&
81 cannot be mistaken. The records
of disaster are cut very deep"
will you tell me the whole story?"
cit is still very fresh in my memory
1t seems an event ofyesterday. | had an
engagement to meet your father after the
reception. The Lake Superior copper
mining fever was then at its height. Your
father was cool, clear headed man, and
generally kept aloof from schemes OF
money making not connected with legiti-
mate trade. 1t so happened that one OF
your restless, over sanguine men, VINO are
always on the look out for some scheme
by which money can be made more rapid
ly than in competitive mercantile or man.
ufacturing operations, had made visit to
the Ontanagon region, and, in company
with country surveyor, prospected for
mine. According to his representation,
they had discovered one of the richest
deposits of ore in the whole Lake Superior
region, and held the secret of its location,
He had come east to organize company,
and had yet only talked to a few capital
lists, who had arranged to meet him at one
o'clock on the day have referred to, in
order to get full development of his
plans.
"Neither your father nor / felt much
- L. bod l1ttlp
faith in mining speculations, having seen
more money lost in themathan gained, by
a thousand per cent. But we had been
so strongly pressed to attend this meeting
that we we're constrained to be present.
"From the wedding reception, flushed
with wine-we had each taken three or
four glasses, and our heaCs were not very
strong-we went to this meeting to hear
about the marvelously rich deposit of al
most virgin copper discovered somewhere
on the range of the great Minnesota con-
glomerate belt. Maps and plans were
spread before us; specimens of copper
ore exhibited; cost of land, and the par
ticulars of working mines, and the money
needed for developement, set forth In elo-
quent detail.
"Isoon saw that your father, in whose
face there was an unwonted glow, and IN
whose eyes shone an unusual brightness,
was becoming much interested, was fore
most in making inquiries and getung at
facts and figures. His ordinary GOODNESS
and reserve were gone. He had permit
ted himself to come under the magnetism
of the plausible individual who wished to
draw us into his scheme of fortune max
ing, ard was completely carried away by
bis representations.
81, too, saw golden visions, and when
your father said, Gentlemen, mean to
90 into this thing l was the first to
respond So do L. Our example was in
fictitious. We had the reputation of being
prudent, far seeing men and the fact
that we saw money in an undeveloped
copper mine had a strong influence upon
those present, none of whom had the re-
motest suspicion that our judgment was
obscured and our vision distorted by wine
"There were ten individuals present at
that meeting. Under your fathers lead
and mine, the preliminary organization Of
a Joint stock company was made, and !
committee appointed to procure char
ter. The capital was to be two hundred
and fifty thousand dollars, divided into
five thousand shares at fifty dollars each :;
the money to be paid in by installments
as needed. As shown by full estimates
and the results accomplished in leading
mines, not over fifty thousand dollars
would have to be expended before paying
returns were obtained. The stock would
then rise to par, commanding fifty dollars
share for ten paid in.
"Your father headed the subscription,
putting his name down for two thousand
shares. His faith and example were po-
tent with nae, and / followed with thou.
sand more. In few minutes the whole
subscription was full; and we had COM
pact organization of ten men, two of
whom, your father and |, held the con-
trolling influence; our proportion of
shares being three fitths of the whole
number. 1t was voted to pay in at once
two dollars a share, or ten thousand dol
lars, in order to make cash payment on
the land, and to get funds for beginning
Immediately the work of opening the
mine. The charter would come and the
company organization proceed in due
course.
6 went away from that meeting feeling
strangely. On going to my store, l re,
member sitting down at my desk, and
resting my head between my hands, trying
to think Just where [ stood and what [
had been doing. / remember saying to
myself, as the excitement under which
had been laboring cooled down and my
brain got clearer, Have / been dreaming
or acting the fool 2 was doing a moder-
ately profitable business, that required
careful working. My capital while suff1-
cient to ensure success, was not large, and
needed to be well cared for and handled
iudiciously. could rot take two thou
sand dollars away from it without de-
ranging my calculations, and limiting, in
some degree, my operations. And yet, |
had put down my name for thousand
shares of stock, at par value of fifty
dollars each, and might be called upon to
pay assessments to the full amount!
telt the cold sweat on my forehead. |
said to myself, What came over me? |
must have lost my senses!' Then it
flashed into my thought that the wine
drank at your sisters reception had been
the evil influence which led me astray-
the binding power that obscured my
judgement l was startled at the revela-
tion-startled and ashamed.
"But there was now no going back
upon what | had done. I had entered
Lnr,ornhlo nArtrnnt nnd nnIll ,nt