The Rutland daily globe. [volume] (Rutland, Vt.) 1873-1877, 1876-03-21

then falling into losses of corresponding
character. Like all gamblers, he avoided
solid stocks and dealt in fances, because
the latter we're easily forced up and down.
To manipulate fances became ruling
passion, which cost him all he made, and
were he now to be restored to his highest
prosperity, he would no doubt renew the
same habit.
DREW AND THE BOSS.
Daniel Drew has seen the stock board
grow up from almost nothing to its present
magnitude He can remember the time
when small room, whose door was locked,
contained the whole list of brokers. A
heavy days work then was not equal to the
sales of one stock at the present board.
When he came on the stage Jacob Little
was the king of the street, and he lived to
see them fall twice and die poor. He also
saw lie Grand Lockwood, Anthony Morse,
Addison G. Gerome, jim Fisk, Jay Gould,
Henry Smith and other men of note come
on to the stage in all the ardent expecta-
ton of beginners, and he at first looked on
them IS boys who were proper subjects for
his tnesse. He found, however, that some
of these boys could teach him important
lessons. Jim Fisk and JAY Gould drove
he had welded mastery for many years
Subsequently the "boys" cornered the old
man in Northwestern, and bled HIM in an
unmerciful manner. This was done by an
alliance between Gould, Augustus Schell
and Horace f. Clark. They contracted
with Drew and ii. N Smith for an immense
quantity of the stock. 1t would seem rid
| lculous for any man to contract to deliver
what he did not own, but such is the nature
| of Wall street business. You must not
expect stock operators to be controlled by
what is called common sense" Such was
Drew's confidence IN his luck that lie agreed
| to make these enormous deliveries, and
found, when it was too late, that the "boys"
had got him foul. The corner drove up
Northwestern to from 80 to 200 after which
it fell to its old level. Many who noticed
this advance have since then bought North
western hoping for rice, but it has not
come. 1t is now quoted at A, and as it
pays no dividend it is to be considered
mere fancy, whose real value is beyond any
correct estimate.
DREw's LAST FIRM.
The first firm in which he appeared in
Wall street was Drew, Robinson & Co.,
and the last was Kenyon, Cox & Co. In
mer. Drew, Robinson & Co., were able
to divide at least 100000 as the profit of
IA years in what may be called Legitimate
business" Kenyon, Cox 81 Co. sank that
amount for Daniel Drew during the panic
of 1873. He had placed $500, 900 in this
house as special partner, and by the stat
ute he was liable for an equal sum. They
failed, and he was called to stand in the
gap. This was rapid and effectual work.
That such losses should bring great distress
were inevitable. No man can avoid an
noyauce, worriment, vexation and wrath
when he is losing. He may try to smile,
but this effort will soon become wearsome.
The old man had not only lost immensely,
but the fact WAS public, and had damaged
his credit. He determined to make an
other strike, for, as he reasoned and as
gamblers generally reason, luck must turn
somewhere. The strike was made, and
wabash was selected as the object. This
road had once stood well, and though it
never paid dividend it was in rapid sale,
and had the pIe5,is. If Ayariah Boodv.
who once was its master spirit. WaOasIi
at 70 might, as Drew fondly supposed, be
driven up to par. He went into the field
with all his forces, and the result is found
in the fact that the stock is now down to 8,
HIS WORST MOVE.
1t thus appears that Daniels operation in
Wabash was the very worst that could have
been made. Here we see the folly of the
wise. A man who ranks as the veteran of
the stock market makes blunder that would
disgrace q greenhorn. He found too late
that Wabash was doomed. He was deceiv-
ed in the most destructive manner by the
delusion which possessed his soul. He had
for thirty years lived in atmosphere so full
of falsehood that it seemed rs though there
was no truth. His heart uttered the senti.
ments, if not the words, of Macbeth:
"And be these Juggling fiends no more believed,
That palter with US In double sense;
That keep the word OF promise to the ear,
And break 1t to our hope"
The next thing is his exit from the scene
| of his success and failure. Daniels oc-
| clpation is now gone. He has disappeared
| from the busy scenes of Wall street, never
more to return. Other hands must toss up
| the fancies and other sharpers must shave
| the unsuspecting. Daniel Drew is no lon
aer ready to offer his services. He is played
out. Why did he not remember the Ides
of March?
| THE POLITICAL IDEs.
felt pleased when our so-called "Dem-
ocratic" friends celebrated the birthday of
Jackson, but as the old hero has been dead
thirty years it occurred to me that it might
have been better to have regarded him in
national than political view. However,
| that is their business, and / can only re-
mark on the singular felicity of the occa-
sion. On that very day came the New
Hampshire election. Is there any more
Democratic powder left? If so, another
gun for the Ides of March,
| WALL STREET LESSONS.
| Daniel Drew is now nearly 70. He has
gone through wonderful career, and the
lessons Of his experience would be of great
value. If had the time TO spare should
call on the veteran of Wall street and write
up his life. He found the stock marxet
small, as have said, and he left it great
He has seen the growth of our grand finan-
cial system. When he came INTO Wall
street there was no such thing known as a
railroad bond, Of there was let some one
correct this s,atemenD, hut now there are
five hundred millions. He has seen Van
derbilt rise from nothing to his present
grandeur. He saw the fall of Jacob Little,
and the elevation of Jay Gould. The
young men of his day have had a strange
history, more like romance than like fact.
There are the dead, such as Addison, Jer-
ONE, Anthony Morse, lie Grand Lockwood,
and Jacob Little himself, each of whom
made great fortune, and then lost all and
died poor. Henry Keep also is smeng
those who died since Drew began his ca
reer. 1t WAS well for Keeps fame that he
went when he did. Otherwise he might
have left his family poor as the others.
|,He was smitten down in the midst of sue
cess, and left two millions. There was
time when Jerome, Morse, Lockwood and
Jacob Little would, had they then died,
have also left large fortunes. Had Drew
/ him salf diad ten wars 400 ha piuht ha va