The Andrew County Republican. [volume] (Savannah, Mo.) 1871-1876, 1875-06-18
Beware.

Ilt IdDOTS EtITtSHtu anu SlTtllplltlGG
Beware.
There are reputable firms, we doubt
not, taking the Stock Exchange rule of
measurement, that in the adver-
Using columns what they call stock priyi-
leges," that is to say, in simple English,
the right to take your money into the bull
pen and bear menagerie, and take it out if
you can. A juvenile Indianian was sent
down to New Orleans years ago as super
cargo of a brOadhOrn, freighted with the
autumn gatherings of corn. He convert
ed the grain into cash, was inveigled into
Il gambling den, made mOneyless, and re-
ported on his return to his ~hearthstOne
that he had deposited his money in what
they called a Pharaoh bank. Similar in
situations can still be found in Broad and
New Streets.
There are two methods of divesting
yourself CT your ready rhinO. You can
place your margin of ten per cent. with
your broker, and buy and sell or you
can embark for a modified shipwreck by
the slower but hardly less certain pur-
chase of what are known as puts and
'~'calls." If, in your enlightened opinion,
there is to be an advance of price on any
given stock, you place your one hundred
dollars and get the privilege of making a
demand, or a ''caIl," for one hundred
shares on a certain future day. If, on the
other hand. you are depressed in mind. in
the same manner you acquire a right 70
deliver by the Same method a like quanti-
ty, named a put" When the date ar
riveS, you settle differences OF value, and
make OF lose, as you have hit the market
i'll your betting.
The advantage of this mode is, that you
know the exact amount of your venture
OF the ragged edge, and can sleep sound
o nights without hearing in your dreams
that startling demand for making up your
margins. One OF these firms has i'll adVer-
tiSemCnt 4 tempting account current OF
gains. Gentlemen who are familiar with
accounts. are aware that there are two col
umns TO a ledger record, a debtor and a
creditor; and while the right is the more
pleasant to muse over, ugly figures will
intrude on the left hand side. We have
no desire to impair the profits of dealers in
stocks which. as an operator said the 9th
cr day, "havea value, so long as the fools
of the street will take them and pay the
price, but it is Il duty to warn young
and cOntilingmen to steer clear of these
pitfalls and look sharp after the spring
guns of these accomplished gamekeep-
crS.
That the adventurer may make III Oc-
casiOnaI accidental profit is certain; that
any outside victim who goes into the vor-
tex will have a final scOoplng out, is
equally sure. Avoid it as you would the
snare of the fowler. and flee from it as
from the nOisOme pestilence.
That riches have been acquired by re
vOlving this wheel of fortune is undenia-
bic; but by whom? 1t is by such men as
jay Gould, who can buy and carry with
out limit of purse. He can growl as a
bear with %impunity, and bide his time;
he can roar like the bull of Bashan, and
wait and gather the spoils of his maraud-
ing. The outsider is the man going down
to Jericho who falls among thieves, if he
treads the sidewalks of the money
changers.
Ifany gentleman, enamOred OF the air
of this hot and fevered locality, desires TO
feed his lungs. let him take a stand at a
street corner, bake and vend the edible
peanut, boil and transmute into honest
nickles the fruit OF the chestnut, traffic III
Cuba oranges. or get small gains on trOp-
zeal bananas, and ne may keep a white
soul and have cleanliness of palms. But
DO not let any schedule of chances allure
YOU. into the intoxicatiOn of an early pro-
fit and alater ruin with the h%ypochOndria
of a departed margin and the brokers' dun
for the debt of a shrinkage and sale of the
security.
The outright gambling hell is a simpler
and palmer road to financial %perditiOn.
The faro bank is a safer institution for your
deposit, and the revolving roulette Il quick
er rotation to the poOr-hOuse.-New York
SIM