Wood County reporter. [volume] (Grand Rapids [i.e. Wisconsin Rapids], Wis.) 1857-1923, 1877-06-28
WHAT WALL STREET DID.
A ConvicI's Story.

A GOnV1cL's story.
| held position as clerk with a firm in
Wilson street, which | shall call Wilson,
Carter 81 Co. | became boarder in the
family of relative, and continued with
him four years, when some changes in his
business determined him to remove to San
Francisco. | now took lodgings, and
CONNER ced, for the first time, what is
called a bachelors life. Itwas somewhat
dull at first, | admit. but by degrees l
made acquaintance, and it offered far
greater attractions. Nay, more, / had
now secured so fully the good feeling of
the heads Of the firm, that | was frequent
ly guest at their tables, and it is only
justice to myself to assert that if | did not
gain their confidence, it certainly did not
arise, on my part, from any lack of zeal
in their service. One day when l was
dining at the house of the senior partner,
| met certain Mr.. Robert Thornton, one
of the principal clerks in a large insurance
office. He appeared very gentlemanly,
intelligent man, and had evidently seen
great deal Of life. We left the house to-
gether, and found he resided but a short
distance from me, and the night being
fine, he offered me cigar, and we walked
home together
On the different subjects we conversed
on during our walk, the one on which he
appeared to take especial interest was
specializing in stocks. Curiously enough,
while employed for five years within
few blocks of the Stock Exchange, where
/ knew fortunes were constantly changing
hands, | had never felt tempted to try my
luck. My employers, indeed, were
strongly opposed to it, and | had heard at
least one OF them denOunce stock specula-
ton as gambling Of the worst Kind. But
Al,,N
equally high standing laughed at them for
this, and Thornton, | soon found, was
well stored with arguments to prove it
every whit as legitimate as the most hum
drum dealings in pork or -four or nails.
1t so happened that a sudden and con-
tinued rise in Erie had caused great fur
ry in the street, and my companion named
several acquaintance who had cleared
from S., 900 to SIS, 900 by lucky invest
ments during the last week.
" | could make as much as any of them, !"
he exclaimed, if only had thousand
or two TO start with. | know precisely
how to do it, and if [ could find a man to
put in the money I'd make asmall fortune
for us both inside of fortnight"
1t was impossible to listen to him un-
moved, especially as | knew from the re-
ports in the newspapers that investors in
N6IG sums.
Consequently when he asked If | knew
anyone at all likely to go in with him, |
said:
Perhaps ! might"
"What! you'll" he cried &c am delight
ed. Can you raise thousand ?''
" Yes, two thousand, if necessary"
g Bravo! your fortune is mader'
" But see here" said /; {" in the first
place, we must keep this thing quiet, for
/ don't care to let my employers know it,
and in the second place, you must post me
up, so shall know exactly what we're
about"
''All rightr' said he; "that's easily
managed. And as you put in the funds
III be satisfied with one quarter of what
we make, and if we should lose, which is
impossible, however, I'll stand half the
loss"
By this time we had reached my lodg-
ings and going in together, gave him
check for 81 900 on the bank where my
small paJrimony was deposited. A memo
randum of our agreement as to the divis-
ion of certain profits and impossible losses
which we anticipated was then drawn up.
and my mere acquaintance gayly took his
leave, saying:
Mark my prediction! Thornton &
Co. will corner the street YETI
| smiled at this, but | did rot realize its
absurdlty so clearly as [ have since By
far the most interesting part of the news
paper the next morning was the financial
article, and | bought the first edition of
the Ege7lS3lg Post to see the stock Quota
tons. | could not leave nv desk during
business hours, but | dined with Thorn
ton and found him in high state of ex-
citement. He urged me 10 invest another
thousand, but | refused, though greatly
tempted by his representations. The
next night he made a prodigious effort to
look cool and uncOncerned as he laid be-
fore me package of greenbacks amount
ing to S1,750.
There" said he, Ct doubled your
thousand in two days, and l could have
done the same if it had been two thousand
or ten thousand. You might have made
. 81 800 as easy as $3.50.
/ looked grave as | reflected that this
was undoubtedly the fact.
:" What have you done with your $3.50 2"
| inquired.
Bought Erie, of course. III treble it,
sure.''
| s-questioned him closely, went
over the newspaper reports once more,
and then took my resolution, Calling for
pen and ink | filled up a blank check and
SAID, handing him the package of green
backs:
"Here is 1850 in cash, and here is a
check for $4,700. Go in in and win"
Thornton jumped up and grasped nv
hand, exclaiming:
"You're man of nervel You deserve
to be ,richp'
"Well," said l, cit depends a good
deal on you. See that you make no mis-
take"
Never fear" said he, "you'll be worth
$50, 900 before you know it.''
s. After some further conversation we
parted, my occasional misgivings being
speedily dispelled by delightful visions of
sudden wealth
You will see that l had put into Thorn
tons hands the whole of my little inheri-
lance together with two years interest,
which had allowed to accumulate. nv
salary for the last two years having been
simply sufficient for my wants. / am
satisfied that it would have been a lucky
thing for me if | had lost every cent of
it. But, as it happened, Thornton's in
stinct was not at fault, he sold out at just