New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1876-03-26

otence of love returns to the heart and
streams forth from that beautiful soul
who looks at me again with her deep TN.
fathomable eyes. Then it seems as if the
love to millions vanished in the love to
one-my good angel; and my thoughts
| grow dumb before the unsearchable prob
| lem of finite and infinite love.
Ups and Downs in a Wall street Opera.
tors Business.
So good old Uncle Daniel has gone up at
| last. The disaster took the form Of North
west. He never got over the squeeze.
NJ ny time and oft had the old man given
''pints' to the boys and ecO0ped in their
ducats with smiing face, but the tables
we're turned with vengeance. 1t cost him
| something over . round million to get out
of that Northwest corner, and he has been
q different man ever since.
Fret bare-legged farm boy in Putnam
county, then drOver, next q cattle specu-
lator, then working into steamboats, and
railroads, and at last rising to the eminency
of monarch among stock gamblers, Drew
pressed steadily on by cheer shrewdness
and cunning and made enough money, had
he been able to keep it all, to be- as rich
plan from the first was to sell short and
rake in big profits when the periodical Wall
street panics came along. This served him
we'll until Gould and the late Horace F.
Clark caught him in the Northwest whirl-
wind. and took 81 .225. 900 from him at one
sweep. He had been selling Northwest
short at seventy to eighty, and Gould and
sold. and as much more as they could get.
When their trap was ready to spring, they
notified Drew to deliver the stock This
was impossible, for it was all locked I'D
in the safes OF Goulds brokers. The up
shot was that Drew settled with Gould
at loss of million and q quanter. But
he was not often caught that way. Wander.
bitten for his pains. Drew was president
of the Erie railroad at the time. He owned
q few millions of Erie bonds, which were
secretly converted into stock. The stock
was selling at par, and Drew was known to
he heavy seller on the short side. Van
derbilt began to buy, with a view of catch.
ing Drew in q corner. He bought, and got
trolled all the stock in the market Then
he called upon Drew to deliver. The old
man was wide awake and ready. He not
only delivered all the stock that Vanderbilt
claimed, but he threw lot more on the
market. and broke the price down to forty.
Vanderbilt was furious, and set the law
upon Drew. who ran away and intrenched
himself in New Jersey; but the two after
ward became very good friends. Wander
bilt never sold short. When asked for ad-
vice about stocks his reply always was:
Don't you ever 90 and sell what yos
haven't got"
Hundreds of storie shave been told about
Uncle Daniels way of doing business
Here is one I heard in Wall street some
ynnn hot mill a
while sitting in his Office, Drew was ap-
preached by clerical looking parsonage
who introduced himself as . Methodist
minister from town up the Hudson. Uncle
Daniel wanted to know what he could do
tor him.
"Well, l thought. Mr.. Drew" said the
psrson. that you might put me in the way
of making little money"
''Thinkin' of buyin' some sheers, eh :"
"Yee, sir: got something saved up, and
if you'll be good enough to tell me what is
best to do to increase it. you'll oblige ms
very much"
well, now, its kind a resky, We know,
but pr'aps eff ye tried little Erie
Thank you. Mr.. Drew, thank YOU.
Now, will You be kind enough to tell me a
good place to buy? You see, am not 40
qusinted down here at ALL"
Drew sent him to one of his own brokers,
who had orders to sell Erie right along, and
when the parsOn was leaving the good old
man said to him: ''Now, don't ye 20 an tell
any OF the folks that up there that I've
been givin' We any pints, for don't want
EN- to be comm down here an speculatin'."
The parson ordered some Erie, put up the
margin, and went home, and in less than
week every one of his neighbors who could
command thousand dollars had come to
New York, and bought Erie in the same
place. But they were all surprised to find
stock falling instead of rising, and when
more margin was called for the dominic
'ame down in hot haste to see Mr.. Drew,
and find out what was the matter.
'Mr. Drew, my dear SIT, how is shisl You
old me Erie was good thing to buy"
j. swell, said Uncle Daniel, with the
Egyptian mummy smile, "it has turned out
BOOTY bad. that's fact. But sof course I
lon't want ye to lose any money. Let's
ee; how much are ye out! ?"
The dominic named his lose, and Drew
old q clerk to ELL q check for the amount.
t was handed to the visitor, who became
lutte prOfuse in his thanks, and when he
Vas leaving the Office, Uncle Daniel stopped
Tim for q minute, and said:
"Seems to me l told ye not to say any
hing about that pint on Fry to the folks
lp your way. Lots of ems ben down yer
'uyin. an / fear they haint made notbin'.
'orry, but it haint my fault, for told ys
lot to tell en-" They had been buying the
took that Drew was selling, and the check
o the dominic was only small part of
hat he had made out of the dominie's
riends.
In the days of his prosperity Uncle Daniel
made bid for piOus reputation by endow-
aR two theological seminaries. To one
AIMED after him In Madison. New jersey.
. gave $3.50 900, and to the Wesleyan Uni,
ersity in Middletown, Connecticut, he
ave 100000. But the greater part Of tbs
fits were merely on paper, and there isn't
luch likelihood now OF the institutions get
ing the money itself. The requests are not
ecursd, and the regular creditors are pre.
= sure to object to their payment while
Their claims remain unsatisfed. Drew's
otal Liabilities, including the endowments
re something over 81 ,0O6, 1000, and his nom
al assets reach $750, 900, but it ia doubtfrI
they would realize halt that amount. HIS
ersonal property, such as wearing appareI.
welry Bible, hymn books, etc. foots nm
$50. which isn't what might be called ex-
avagant for millionaire. But sIthorrl
bod old Uncle Daniel voluntarily han6s
yer everything to his creditors, Ee is NO.
be without home during the few years
, has to live. The house at the corner Of
roadway and Seventeenth street. whers
} has lived as long a. I remember. still re-
aims to shelter him. With that oleye-
resight for which go many men who be-
me bankrupts are distinguished, he trans
rred this valuable property to his wife.