The Toledo chronicle. [volume] (Toledo, Tama County, Iowa) 1873-1924, 1877-06-14
WHAT WALL STREET DID.
A Convics,s story.

- OVMNACG0 SeOIys
held q position as clerk with firm in
Wilson street, which shall call Wilson,
Carter & 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. I now took lodgings, and
commenced, for the first time, what is
called bachelors life. Itwas somewhat
dull at first, l admit, but by degrees l
made acquaintances, and it offered far
greater attractions. Nay, more, l 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 cert iinly did not
arise, on my part, from any lack of zeal
in their service. One day when / was
met certain Mr.. Robert Thornton, one
of the principal clerks in large insurance
Office. He appeared very gentlemanly,
great deal of life. We left the house to-
getner, and found he resided but 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
speculating in stocks. Curiously enough,
while employed for five years within q
few blocks OF the Stock Exchange, where
I 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
I knew, too, that other merchants of
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 sudden and con-
tinued rise in Erie had caused great fur
ry in the street, and my companion named
several acquaintances who had cleared
from $5, 900 to SIS, 900 by lucky invest
ments during the last week.
81 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 . man to
put in the money I'd make small fortune
for US both inside of a fortnight"
twas 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 knew
anyone at all likely to go in with him, l
said:
"Perhaps might
"What! youl' he cried; " am delight
ed. Can you raise a thousand ?"
ttVao fuyo fhoucopd if pooaucory
Bravo! your fortune is made!'
But see here" said l; t" in the first
place, we must keep this thing quiet, for
l 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 rightl'' said he; "that's easily
managed And as you put in the funds
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 q
check for 81 600 on the bank where my
small paIrim0ny was deposited. A memo
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 yet"
smiled at this, but did not realize its
absurdity SO clearly as nave since. By
far the most interesting part of the news
paper the next morning was the financial
article, and bought the first edition Of
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