Fayette County herald. [volume] (Washington [Washington Court House], Fayette County, O. [Ohio]) 1860-1???, 1876-11-16
a CrTY a eAmRLERs.
z,he AbsorBIuz Passion for stock
sPeeuIaInons in SAN Francisco.


A correspondent of the New York Times
writes: Everything seems to be subor-
dinated to the mining stocks and to spec
ulation in mining. Here they are not
satisfied with one board, but they must
have three, although the population of
San Francisco is barely 10000. There |
is the Pacific Board, the California Board /
and the San Francisco Board, each OF /
which has its Stock Exchange and is in |
dependent of the others This is pretty |
much as if there should be in New York |
City an Atlantic Stock Exchange and
New York City Stock Exchange. But |
though the business transacted in Goth
am represents a population of over two
millions, one Stock Exchange has hither-
to been found amply sufficient. 1t is OBJ
Vious from this one fact that gambling IN
mining shares must be a very general ]
pursuit, and indeed it is. The man who
resolutely confines himself to the strict
channels of his immediate business is
looked upon by the community with those
mingled feelings Of ca fempt and admi-
ration which q fhorqH paced drunkard
llealtl md sstdIlires tlles N blood which
.couEsez throngh he us1fs ylered veins, yet,
all. he links tile man is a milk sop,
Z 100 cow 81 to know the jeysof Baeehus.
So here n Francisco, every body takes
q nibble aS the Ilea MS bait. The
Just sufficient for his I'M ijortli nsiness,
is on the SIS Bearing Ophir, y lille the
wife of his bosom has bought the same
stock for a rise. His clerks are al en-
barked on small speculative ships of the
same kind, and condemn themselves to
voluntary poverty in hopes of making a
great raise, and then going into buSl-
, ness for themselves. Even the very cook
/, in the kitchen is enabled, through the dis
| eliminating business tact of some brokers
: to share t. The delicious dance, for with sc
small a sum as dollar one can venture in
The method by which the single dollars
2 of the poorest classes of the community
: are raked in by the sharks of LeidersdOrf
l and California streets, is the familiar puI
: and call of Wall and Broad in our owl
s delightful city. Here you can have pu
4 or call upon single share of Ophir o.
= any other stock in the market for one dol
lar. The consequence is that the mind
n of almost the entire adult population arr
n riveted upon mining stock. Bulletins o
the prices current are circulated ever,
Y half hour, exposed in all the brokers' of
e fees and in all the money exchanges, an
e sent to all the leading hotels. The larg
L brOking offices, where business is done o.
,e a grand scale, are furnished with enO1
h nous bIackbOardS, on which the dlHeren
le stocks are painted in Iegible white char
r acters, and the fluctuations are marked i
IS chalk every hour. In front of these office
hundreds of men gather every day, CON
7r ing as early as 8 O'Clock and Hngerin
le until the final quotations are marked
he when they slowly retire. Sometime
y when there is great excitement In til
a mining shares, there are thousands {
ef these loiterers, the sidewalks are chokeC
ne and to pass on one must walk in the stree
IT. itself among the bustling vehicles. The
81 are essentially queer crowd, compose
2, of spectators and loafers. Not that thel
re for the speculatOr of this character is sin
es ply loafer who has raised stake and
ut awaiting res ults, and the loafer is a spe
tie ulatnr who is penniless ana isAWaiting
tie stake from some fortunate comrade. YC
as may know easily the men who are in luz
n from those who are out. The former ha7
II decent habliments, and heavy WatC
chains'of gold quartz in broad setting tt
80 latter are clad in rusty Westerns clio
from which the dye has faded, leaviI
he the color an indescribable kind of purpl
of They have neither watches or watt
lie, chains, and dinner is a problem to
ar solved either by abundant cheek or by Il
nd spirit of eamaaderte which such a pursr
he is calculated to evolve. There they stan
ut the lucky and the penniless, in rain
M sunshine, during the liYelong day waite
a ing that miserable speculative pot DO
lis ing. So long as they can make-A lucl
III hit OF two, or can borrow from. Other
M they continue this extraordinary kind
I'd. life. When they are what is empha
ed cally called FEplayed OUT the enterpr
af- ing seek the mines, and the shiftfess DIR
to into crime.
as This is eventually worse than the Il
~ teries, for with them the gamblers ent
ass gies are not paralyzed, and he can wo
7ed for his living, and buy lottery tickets to
RI. But here it is not so. The mere fact tt
Ia a man has got put upon some favor
in stock, seems to entitle him, in his ol
the mind, to positive respite from any a
Il i've occupation until the turn is afcfd
ON for or against him.