The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1876-03-22
CRAZY OVER STOCKS.
The Bonanza NInnin In San FRANCHISE rs
Described by a Correspondent.

The Bonanza Mnnin In San FRANCHISE n,
Described by Correspondent.
The people in San Francisco are crazy
on the subject of stocks. Men, women
and children all deal in them. You STEP
into bootblacking establishment, and
as the darkey brushes the mud off he
remarks "Chollar's looking mp, sab
Quite a bulge dey got on Californy. u
You can buy stock from twenty-five
cents up to $3.50 share, SO everybody,
from the richest man in the city down
to the newsboys, can handle it. To
illustrate the extent to which this
gambling mania affects all classes OF
people, [ will relate little incident
which came under my own observation.
was dining at the Palace Hotel. The
waiter placed plate of soup in front OF
the gentleman opposite me, prominent
stock broker, whom we will call Smith.
As he put down the plate the waiter re-
marked:
"What do you think Of Nevada, Mr..
Smith,"
"Weu, I think they are good pur-
chase at $685." said Mr.. Smith.
else got ten shares dat cost me $18, Z"
said the darky, "and I guess you may
sell them for me in the morning. Fish,
sah?" ...
eyes; bring me some sea bass"
The fish was brought and the con-
versation continued.
"What do you think of Ophir, sab ?"
"Wen, I don't think it will go much
higher. They run it up to 03 to-day"
"I'se got fifteen shares of dem dat 1
held a good while. I bought 'em in at
Is. guess you can sell dose too."
And so it vent on through the entire
dinner. With each course was al order
to buy or sell some stock. The fellow
had invested his little savings inmargins
on trades, and cleaned up nearly 81, 600
as the result of his operations. The
conductors on the street cars hardly
lave time to collect fares, they are so
much occupied in trading with the
drivers. There are some queerstorles told
of tho means adopted to influence the
market. One of the leaders of the big
bonanza ring, when asked for points by
his friends, tells them that he cannot say
anything, but they may read the dis
patches on his desk. These dispatches
he himself had dictated, and when his
friend buys or sells on the strength Of
them, he finds some bright morning
that he has been bucking against the
ring and been swallowed up. Another
well known operator who lived at
Virginia City, and whose apartments
were shared by fair companion, came
down to San Francisco, and after few
days wrote to his fair friend to buy
shares in O certain mine. OF course the
woman told one or two intimate friends,
they told others, and as soon as these
people had bought all they could put up
margins for the ring began to deliver
stock. The stock had been watered and
the outsiders swindled. Some say that
the operator who engineered the thing
reimbursed his lady friend, while others
say he had not even grace to do that
AS soon as O man makes fortune here
he at once builds hotel or theater. Of
course the Palace takes the lead among
the hotels. The exterior is anything
but beautiful. as it is nothing but
great square building, with an excres-
cence in the shape of bow window to
each room, giving it a decidedly eruptive
appearance. The interior is not as ele-
gantly finished as I had been led to sup
pose, and in this respect does not at
all compare with the Palmer House in
Chicago. The rooms are all comfort
able, we'll lighted and furnished, but the
favorite apartments for families and
regular boarders are those on the sixth
floor, opening on the large covered court
in the center. E. J. Baldwin, or
"Lucky Baldwin," as he is called, is
building large hotel, with theater in
the center. If any one else were to put
such q building everybody would pre-
dict n loss on the investment, as the
town is overstocked with both hotels
and theaters. But as everything this
man touches seems to turn to gold, l
suppose it will pay.