The Elk County advocate. [volume] (Ridgway, Pa.) 1868-1883, 1877-03-15
WHAT WALL STREET DID.
A Convict's Story.

held good position as clerk with
firm in William street, which 1 shall
call Wilson, Carter & Co. L became q
boarder in the family of q relative and
continued with him four years, when
some changes in his business determined
him to remove to San Francisco. I now
took lodgings and commenced, for the
first time, what is called bachelors s
life. 1t was somewhat dull at first .,d-
NIT, but by degrees 1 made aculiaint-
ances, and it offered far greater attrac-
tions. Nay, more, had now secured SO
fully the good feeling of the heads of
the firm, that was frequently guest at
their tables; and it is only Justice to NY
self to assert that if L did not gain their
confidence, it certainly did not arise,
on my part, from any lack of zeal in
their service. One day when / was din
ing at the house of the senior partner, I
met certain Mr. Robert Thornton, one
of the principal clerks in large insur-
ance office. He appeared very gentle
manly, intelligent man, and had evident
ly seen great deal of life. We left the
house together, and as 1 found he re-
sided but short distance from me, and
the night being fine, he offered me a
cigar, and we walked home together.
On the different subjects we conversed
on during our walk, the one in which he
appeared to take especial interest was
specializing i'll stocks. Curiously enough,
while employed for nearly five years
within a few blocks of the Stock Ex-
change, where knew fortunes were con-
stantly changing hands, had never felt
tempted to try my luck. My employers,
4 had heard at least one Of them de-
nounce stock speculation as gam
bling of the worst kind But I knew,
too, that other merchants of equally high
standing laughed at them for this, and
Thornton, L soon found, was we'll stored
with arguments to prove it every whit as
legitimate as the most humdrum dealings
in pork or -four or nails.
1t so happened that q sudden and con-
uinued rise in Erie had caused great
furry in the street, and my companion
named several acquaintance who had
cleared from SIS, 900 to $15, 900 by lucky
investments during the last week.
81 could make as much as any of
them," he exclaimed, 4" if I only had a
thousand or two to start with. know
",
find a man to put in the money I'd make
small fortune for us both inside of q
fortnight"
1t was impossible to listen to him un-
moved, especially as knew from the re-
ports in the newspapers that investors in
Erie were making extraordinary sums.
Consequently, when he asked if I knew
anyone at all likely to 60 in with him, I
said:
"Perhaps I might" .
"What you !' he cried; "I'm de-
lighted. Can you raise n thousand2"
Yes; two thousand, if necessary"
"Bravo your fortune is made I"
"But see here" said I; ' in the first
place, we must keep this thing quiet, for
l don't care to have my employers know
it, and in the second place, you must
post me up, SO shall know exactly what
we're about"
"All right p said he; that's easily
managed. And as you put in the funds
I'll 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
a check for 81 900 on the bank where my
small patrimony was deposited. Amem-
orandum of our agreement as to the di-
vision of the certain profits and impossi-
BILE 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 yet"
1 smiled at this, but L did not realize
its absurdity so clearly as 1 have since.
By far the most interesting part of the
newspaper the next morning was the
financial article, and bought the frst
edition of the Evening Post to see the
stock quotations. could not leave my
desk during business hours, but dined
with Thornton and found him in a high
state of excitement. He urged me to in
vest another thousand but / refused.
though greatly tempted by his represen-
tations. The next night he made pro-
digious effort to look cool and unconcern-
ed as he laid before me package of
greenbacks amounting to 81, $50.
"There," said he, 81 doubled your
thousand in two days, and L could have
done the same if, it had been two thou
sand or ten thousand. You might have
made 81 500 as easy as $3.50"
L looked grave as reflected that this
was undoubtedly the fact.
What have you done with your
$250f" inquired. |
Bought Erie, of course. I'll treble
it, sure"
L cross-questioned him closely, went
over the newspaper reports once more.
and then took my resolution. Calling
for pen and ink 1 filed up blank check
and said, handing him the package of
greenbacks: