Ellsworth American. [volume] (Ellsworth, Me.) 1855-current, 1876-01-06

ing or inheritance the man of small means
TO sell his home to invest, and when the
bubble bursts aud the stock falls perhaps
considerably below its actual value when
II had any value, and these poor victims
are lett penniless. | say the manner in
which they are impoverished Il the meanes II
Kind of rob}ery,and the gambler who deals
at Faro or Keno is a gentleman com
pared with the other. Most of the leading
stocks are sold on merit, aud perhaps sell
quite as often below. as above, their rea
value, in which case the gambling is effect
ed 10y operating TO effect the market value
OF the stock, and woe to the lackless wight.
who gets corncred with heavy obligations
to meet In the way of time sales.
For instance, suppose \. sells to b
("buyer 30'') 100 shares OF Savage" which
has ruled for some time about sixteen dol
lars share, and within thirty days the
stock sells for one hundred and fifty dol
lars share. b. calls on A. to deliver his
stock at sixteen dollars a share, which A .
must do il he is worth enough to do it. Ii
will be seen that the 100 shares at $3.50 a
share. amount to the sum of fifteen thous-
and dollars, while they have cost b. only
sixteen hundred dollars making him the
gamer and 4. the loser by the difference
OF thirteen thousand four hundred dollars.
The term buyer so. means that the buyer
Is entitled 10 his stock at any time within
tho thirty days that he calls for 1t, OF
course Il. being the loser il 1t falls. 4.
.el!S Ia the belief that 1t will fall while b.
thinks il will rise, aud it frequently hap
pens that one, or both parties have agencies
at work TO bring about the desired change
~ the selling price OF the stock they are
handling. In such game a. above men
tion. II i diamond cut diamond. provided
two professionals are dealing together.
but where man buys stock for an Invest
ment he j. liable 10 be swindled for two
reasons, viz: First. because he Is pretty
sure TO know but little about the intrinsic
value Of the mine. and second because he
can't calculate with an degree OF certainty.
what the s,slliEgs will amount to. Mining
trustees are not considered as punctilious
as The ancient knights we're. but a, regard
Ing stockholders generally A. foemen.
worthy Of their steal, aud a good many
cases II not nearly ercry CASE where asses
mcuts are levied on mining companies, an
honest management uf the affairs OF the
company would give stoekhold ders hand
ffE+ftf.Ytf. INSTEAD I = A
IN my next 10 present some facts In relA-
ton 10 the depths to which some Of the
mines are worked and the enormous pow
cr OF The engines and mac cuinery employed.
SIX years ago wa, told by those supposed
- know, that the Gould Il Curry mines
alone, had ten miles "f travelling. and
when you reflect that tunnels are some
what in the vicinity OF seven feet In height
and width Won may have faint concep-
c'ption OF the extent Of the mining lnteres,
here. where there are perhaps "a hundred
or two OF them. Perhap. may be- able to
send few specimens OF the rock from
which the gold and silver is obtained. |
have 4 few gold specimens from Cal. and
II possible, will send q few small ones.
both OF gold and sver for the graiilc alton
OF those who never saw any.
send with this, an article taken from
the san Francisco Bulletin, entitled some
thing about the Bay and Shore birds of
san Francisco which think will please at
least a pretty large proportion Of your read
ers. have made this article much longer
then inendcd, have exhausted my
strength and the landlords stock of candle.
and AIN afraid those OF your readers who
have the courage to follow me, will find
themselves in pretty nearly the same iix,
unless succeed In putting them TO sleep
Instead. Yours Progressively,
PILGRIM