The Sedalia weekly bazoo. [volume] (Sedalia, Mo.) 187?-1904, 1878-07-02
J1HrcoRMIcKs STORY.
The Point He Got From Jay
Gould And What It Cost Him.

The Point He Got From Jay
Gould And What 1t Cost Him.
One of the best-known spectators
on a small scale in Wall street is Jim
Mccormick. He is the bosom friend
of Addison Cammack. the wealthy
stock speculator of Twenty-third
street. Whenever the latter gentle
man gets anything particularly solid
about the future Of Lake Shore, Wes-
tern Union, or the Northwestern. he
lets Jim in, and his ally disseminates
the information.
Jim has had experience Of all sorts.
running fast horses, selling provisions
to the Mormons, chasing covotes. and
he has dabbled in the feverish waters
of stock speculation with more or less
success.
Just at the present Mr.. Csmmack
Is conducting q successful bear cam.
paign in Lake Shore, the break If the
last week, of seven per cent. being
mainly engineered BY him. McCor.
mick is, Of course, in for some of the
spoil, and while the fun is going on.
he remains near the stock indicator in
the Fifth Avenue Hotel, and foreshad-
ows bankruptcy of Lake Shore to a
crowd.
A venerable gentleman from Cleve-
land, who is enlivening his sojourn in
this city by taking a flyer in Wall
street, dropping into the corridor of
the hotel and glanced at the prices,
Jim was at the ticker. and it happened
that the next quotation was, Lake
Shore. 5S3.
"Fifty-eight and three-quarters for
Lake Shorew CALCULATED Jim, with
great vehemence "why. it amt worth
a dollar share! It'll sell for that. too.
in a wear! l tell you. Vanderbilt II
sell out what he's got on hand and let
the old thing bust! A dollar share
this year, l tell you! One dollar a
share"
The old gentleman made a frantic
clutch at the stock instrument to
steady himself, and inquired, but
what's the matter with it?
Matter" jerked out Jim. You
buy it, and you'll find out what's the
matter! Don't touch it if you don't
want to 90 broke"
but have! l bought six hundred
shares at 63. and I'm in hole!"
six hundred shares Of Lake Shore
Six hundred shares at s.! Old man,
you're booked for the poorhOuse
What made you buy it,"
81 heard that jay Gould was buy
ing it. and thought he knew whether
it was good or not"
Bought it because you heard that
Gould was buying it, did you? You're
a nice pill! Go on points of his, and
you'll get busted and in the poorhouse
before the year is out. I got one oil
his points, and it satisfied me. You
remember when Stockwell was build
years ago. dc.'t ,vu : %%ss wei. o. Il.
mack and 1 were over at the Bruins
wick one day, and met Gould at lunch
After a while said to Gould, What
can do to make some money?
Essays Gould, If you sell. littl.
Panama short you'll buy it back fifty
per cent. lower
THAT was just what wanted; e.
I telegraphed down town to sell one
hundred shares. 1t was sold at par
George Dickinson bought it.
1 "About a month afterward was IL
at Wallack's one evening. and who
should come in but Jay Gould and
Charley Osborn. Panama had sold al
IT'S that afternoon, and l felt as if Nj
Gould had given me stale point,
watched my opportunity to speak t.
him and said: Mr.. Gould you gave
me bad steer on that Panama sold
it short at par. and here it is up to It's
I IF I hadn't known him well
should have believed he was going t.
cry, he looked so mournful and sympa
thetic. and he says softly: 4 am very
sorry, but the time isn't come for it t
sell at so yet. It'll sell there by anc
by. 1t might have been better if y,u
had bought it at par for the turn and
gone short afterward.
That's So said I. but I'm $500
loser, and what shall do nowy
"'Well. says Mr.. Gould quiet like
L guess the best thing you can do j.
to sell another hundred short and
make an average; if it goes ar
seventy-five per cent. more, sci
another hundred; you'll be sure t.
buy in the three hundred at profit il
you manage to get them out. 1t CAM
possibly 20 to more than three hun
dred."
'Mebbe you think your talking t.
Rothschild,' says to Gould. wen,
out after the performance and fel,
pretty sick. 1 got the Panama covered
after awhile without any profit and
without much loss, but the sweat wa.
awful. Now, old man you've come on
here from Cleveland and bought six
hundred shares of Lake Shore because
you heard that Jay Gould was buying.
| sold Panama short because he told
me to do it. What chance have you
got? Sell out or you'll be broke.
| No Humbug.
The Grange Store de6es all competition
on the following prices: