Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1878-12-06
LETTER FROM CALIFORNIA.
SAN Francisco, Nov. 25th. 1873.

The stock market is thoroughly demorslized
The crash Of last week was one of the worst ever
known, and ii will take two years for those who
suffered to retrieve their losses, which foot up
mlons in the aggregate. There is scarcely q
person but what the disaster affected Hundreds
of families have been stripped of their home
steads The misery and sorrow occasioned can
not be depicted. The slaughter among marginal
BUYERS was the worst. | was In a brokers' office
and saw a party invest $4,000 on margin. In
less than five minutes time he had lost it all The
excitement that prevailed was intense, End all
sorts OF damaging stories were put in circulation
| to keep the excitement at white heat. For sew
eral months there has been a fearful initiation in
mining stocks, aud there is no doubt but that
prices deprecated more rapidly than the develop
meuts in the Sierra Nevada ore body warranted.
it'll the break in Sierra Nevada the rest of the
Comstock shares went tumblng down like row
of bricks, but not in proportion to the leading
stocks. In one day Sierra Nevada fell sixty per
cent 1t was only few weeks ago that it was
selling for 1912; to-day it sold for Si2 with a
tendency still downward. There is no doubt but
that the conflict between Flood AID Skae for the
control Of Sierra Nevada had good deal to do in
producing the crash. Terrible the shock has
been it will not have the slightest eff ct stock
specu atou. San Francisco is city Of gamblers.
The wealthiest men have made their money in
stocks. As the result the spirit of stock gambling
i, such that it affects all classes and conditions of
society, and no disaster, dreadful it may be,
repress it,
"MY UNCLE"
There is an army of pswnbrokers in this city
The business is lucrative one, the legal rates
of interest on all articles pawned are exorbtant
The inevitable jew monopolizes the business.
The family Of one of the most acted pawnbrokers
has been in the business over one hundred yesrs
10 London and this country. considerable
number Of Cinnamon display over their doors the
golden balls which are the emblems of "my I'M
Gle" the world over. The principal pawn-shops are
arranged with view to ivacy, so that those
who are driven by the vlcissitudes of fortune 10
see ''my uncle" will not be observed by curious
eyes. The windows, show cases and safes of these
pawnbrokers contain a wealth of valuabes. inter-
e.ting 10 the connoisseur, and all having story,
from the most tri6Dg to the most costly. Many
an i'll starred family which have rolled in wealth
and luxury have been forced to visit some Of these
Hebrew gentlemen to pledge their diamonds or
pert with some souvenir TO relieve their distress
considerable amount of thieves plumber is
sold to my uncle" When made of gold and sill
yer the metal is ger orally melted down so as to
render Identification ic possible. The best patrons
of these pawnbrokers are those who dabble in
stocks, professional gamblers aud the demi- monde.
Silver ware, watches, precious stones, guns. pi.
tolls and clothing constitute the leading articles
pawned, many of which mementoes of love
and friendship and of great value, but on which
the loans realized by the party who puts them in
SOAK" are insignificant. One pawnbroker has 4
picture which he bought of a sailor for few pal
try dollars, which turns out to be of Nicholas
Poussin's masterpieces WORTH it is said, thousands
of dollars. These Hebrew pawnbrokers pretend
never to know the value of an article when it is
offered them for sale, and for which they always
pay sum disproportionae to its actual value
but when they have a customer to buy they are
never at a loss to fix price. They are all Shy
locks Of the Fl st water, and their business has as
sumed magnitude which involves millions Of
dolsrs of capital in the aggregate.
RUNNERS AND VAGABoNDs.
San FtuUClsCO II tue pdTauist VI DunmeTs anu
vagabonds. The professional hummer or STRIKER"
in the practice of his impositisns, is generally
| sure Of getting something to eat. As to where
he will sleep he gives no thought, because on &C.
count of the mildness of the climate there is no
suffering from cold. and therefore he is just as
| contented to sleep bale of hay on one of the
wharves. as under hotel or lodging house roof.
The professional STRIKER" is either a dissipated
seedy but clean looking man Of good address, and
often speaking several languages or else an Hit
crate, drunken, ragged cad who keeps so soaked
with beer that he stands slim show of having his
| appeals answered for coin to buy him square
meal, because the charitable know that it would
go for beer instead. The striker of the shabby
genteel class is more successful in his brackets"
as his impostions are termed, because he manages
to be sober when he solicits aid; besides he main
tans such air of crushed dignity when he tells
you his plausible story that his appeals are almost
irresistible. 1t is only in the haunts of vice he
visits where he narrates his exploits. that the
true inwardness Of his nature is revealed. This
better class Of strikers are so common that at about
lunch time, it would be strange if you we're not
sccosied by one of them. In his appeals for coin
sometimes be will represent that he has lost his
all by an unfortunates peculation, has large fam
lily on his hands TO support, and would be willing
to accept any kind of employment. Perhaps the
very next time he stops you he has pitisble story
to relate of an entirely different character in
which be figures as the hapless victim. At an
other time be has just arrived from the East, is
destitute. cannot get work. and wou Id like small
loan until his remittances come to hand and, at
another time, he has been robbed and is absolute
ly starving. Generally his tales are inventions
based on some local misfortune or incident, all of
which be turns to his advantage. His stories are
we'll calculated to excite the philanthropic, ard
give him coin enough to buy his bitters.
Tony CANDoR.
Political.
1t is understood that the Banking and Currercy