The Beaufort tribune and Port Royal commercial. [volume] (Beaufort, S.C.) 1877-1879, 1877-02-22
Life in Wall Street.

The New York Times, in an article on
the gamblers OF Wall street, says
Most of them are from the West, nota-
blv from Cincinnati, Louisville, st.
Louis, Chicago, Milwaukee and st. Paul.
Discontinued with their narrower field at
home, they come to the metropolis, where
their financial genius can expand where
big operations are the rule, and where
big men, as they imagine themselves to
be, find their proper place. They are
unquestionably shrewd, energetic and
sagacious; but they seldom see Wall
street in all its proportions and ramifica-
tions. They overrate their own power
and foresight. They try and enter into
open combat with the street; and while
they are one, the street is many, and
therefore they must be eventually over
come. - One of the peculiarities
of the smaller gamblers is that they in
variably believe beyond wavering that
they are more astute than their fellows.
They acknowledge the perils of their
pursuit; they admit that they walk amid
pitfalls: that counselors are untrust-
worthy; that friends cannot be counted
on. But they are willy. Other men are
constantly failing. Oh, yes; they admit
this: but then some men are not like
other men. Their faith in themselves is
superlative; but bitter experience demon
strates ere long that their faith is sor-
rowfully misplaced.
Every year or two such ardent gam
blers come to grief, and are succeeded
by others equally ardent, equally SAN
guine, equally fated to win. Have you
not met Smith, of Cincinnati, in Broad
street. and inquired after Simpson, of
the same city? "Poor Simpson" is his
response "they've cleaned him out.
That last operation in st. Paul broke him
flat. He's gone home to die in peace.
"Where's Parker, of Louisville ?" you
may ask. "I haven't seen him for some
time. Parker's gone up. He was q little
too rash. He went heavily into Michigan
Central couldn't carry it, and had to
succumb." Wiggins, of st. Louis, is
still believing with the bulls, I pre-
sumo ?" "Well, no; he isn't believing
as much as he was. The fact is, he
bought a big lot of Jersey Central at
over par, and when it went down with a
run Virgins had to squat. Indeed, he's
completely used up" Robinson, OF
Chicago, still keeps on top, doesn't he :?
The last time I met him he told me he
was worth at least million" )" "Proba-
bly, he was then but that's seven or
eight months ago. Lake Shore scooped
him in. He lost all he had, and several
hundred thousand more. He's gone to
Colorado, and is trying to do something
in silver mining.
You may suggest to Smith, OF Cincin-
natl, that since such fate has overtaken
Simpson, Parker and Wiggins, he may
not be quite safe himself. Smith laughs
with the insolence of full blown pride
as he says "Never fear for me. I've
had my eye teeth cut I know the street
thoroughly; Wall street doesn't get mp
in the morning any earlier than L DO.
You can bet on me- Some months
later, you encounter Brown, q near friend
sof Smith, and you ask affectionately after
the Cincinnatian. "Smith, poor devil,
they We got his scalp. A few weeks ago
he was in Washington looking for a
81, 500 clerkship."
So it goes with the confident gamesters
in one continuous round of disaster.
They exceed the Bourbons they learn
nothing and forget everything.