The Eaton Democrat. (Eaton, Ohio) 1875-1903, 1878-10-24
An Episode Of the Rise in Mining
Stocks,
rssn Francisco Stock Report,

tsan Francisco Stock Report.l
Here is a bright little oasis in the
desert of selishness that stretches its
dreary waste over about everything in
these days. II gives us pleasure to al
Jude to it, il is SO bright and fresh and
original. In a certain big wholesale
house in Front-street there is a young
mar employed, who, by dint of hard
work and rather frugal habits had man
aged to fave up some 5000 from his
meager salary. An acquaintance of
his-a man in mining ;circles-said to
him n day, about three months ago,
/" Jim, if you want to make something,
scrape some money together and buys
hundred shares of Sierra Nevada; it
will go up maybe one of these days, and
you can get something pretty nice out
oft" The young man smiled atfrst-he
had had points before-but the more he
thought over it the more he was taken
with the idea. He knew his informant
was in position to know something
about Sierra Nevada and get early in
formation, and as he had never before
advised him to buy stocks it impressed
him more and more strongly that there
was something in it. But he only had
5000, and his informant told him to
buy a hundred shares. The stock was
then pegging along at about 81 a share.
To get a hundred shares he must have
5000 more. He brooded wei the sub
| ject a few days, and then his friend
asked, " Have you got the stock YETI"
no" "Better get it." said the friend,
"you haven't much time" The young
man went and put up his watch and got
another 800. Then he sold some other
trinket and raised another $50. Some
thing else went and he had just 1895 all
told. He watched the stock list, but
Sierra Nevada hung at 81 with t~antaiz.
ing persistency. Finally he said TO a
fellow clerk, "here Jack lend me S. for
a couple of weeks, Pm short" Jack
went down into his pocket and handed
him SIS, and then the coveted $500 was
intact. The day he gave the order to
buy, Sierra sold at SIS, but the broker
told him, "All right; I'll buy it on the
$500 margin, and carryi it for you" The
stock was bought, and in two days was
selling at $3.50. Then it went to SIC
and $12, and finally the whole street
knew of the new bonanza. At about
$12 and $15 the young man wal
crazy to sell, but the original informant
would not let him, or rather begged him
to hold on. There is no use celebrating
the story, the point is not in the rise or
in what he made out of it. Sufficient
to say that he finally got 1920 for the
stock, and walked off with a check fol
over $21, 900. He put it in the bank the
next day, walked down to the store
where the young man is employed whc
loaned him S.. "Jack," he said, "dt
you know / owe you S5F" Jack looked
puzzled for a moment. :" Yes, by Jove
1 believe you dol Cad, I'd forgotten al
about it, if you hadn't spoken sWell,',
saidNthe lucky one, "T-came downstt
pay it and apologize for not doing i
before. I've been sort of hard pressed
of late. But here it is with many
thanks" And handing to the youn.
man an envelope he hurried from tn,
store. Jack was busy at the time, ant
supposing a So gold note to be in tn
envelope, crammed it into his yes
pocket and went on with his work. HI
never thought of it again until tina
night, disrobing for bed, a corner of tn,
envelope peeping from his pocket al
tracted his attention. 1t occurred +
him what it was and he opened it, whel
to his utter amazement, he foun'
a check for $1,000 with this little not
pinned to it:
DEAR JACK return Won a. with interse
to date. Your readiness to oblige me, aide
me in buying one hundred shares of Sierr
Nevada at S., and l have just sold it 70
$22o. The enclosed is the evidence of m
gratitude. Take it and be hsppy.
Sincerely, -
This is a pleasant little incident an
it has the merit of being true. tn
young gentleman is we'll known in socis
circles and his modesty is the only res
son why we withhold his name.