The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1879-12-05
STORIES OF WALL STREET.
A Man Who Made and Lost Fortune
How HiF Luck Changed.


NEW Not1. Nov. 23, There ia now IN the
atreet man who ruttp from Connecticut n
few years ngu mud made F9on,N0o IN ak
months. lie had 5000 IT, start With, partly
money that he had saved anI the rest Dor
rowads. In whatever direction hc reached
money Reainnd TO answer the touch. Tho
news III hia luck went hRelS and fairly how'll
dared the town whence lie came OF thoan
who took the fever seven gave M their en-
nlUyfnptt aliH came To the city nlnktng hero
little bunch ~ apcCuaturH Hike many an
other that may he found in Wall street,
drawn together by Hike causes, from many
partR ~ the country, IT " iuat aa whnh
somebody draws prize in a lottery ,
straightway half the people IN tho nelehbor~
hood 80 IL buying lottery 'rlseta And for
the same reasons Nnu may flnd In small Gitlas
or towns remote from New York communities
who ntenl tu have a bent for atapk speouia.
tions, AK why, and you will usually Ola
cover that somebody from that town has
gone ta New York and taken w the stock
business on at some time haa made big hit
there.
Among those who followed tho man from
Connecticut was n youn9 follow who had
about $40 600, ha share Of n fortune left by n
relative. Fhis mada him rich IN hle country
town. but he was da2zlod by tho then rapidly
increasing fortune " his successful tnwna-
man He began putting ANAL bites Of ha
san.non into The Wall street ellarke mouth
and loet steadily. hut moi enough to alarm
him. for he had ne doubt hir luck would turn
anu AlNt illIA M IuHtH money IA tho man VINO
bad struck il rich had made. He mel the
fortunate individual IN the street one day. and
said
"fouve got 5000, ooo: enough for any ono to
live on Why don't yen taxi" u and get ont
and keep It'll
Because want tn make II round million.
then Ill clear out
LIN leas than two montha he lost every dol
Lar Of the Snn0N Luck went peraatnnily
against him as II had been for him, and In u
desperate effort to regain ha loasea he stacked
M hia margins until the whole great fortune
had melted away II took the man with
$4,000 n year to lose hs money. lie made
smaller and more rautipua operations but ha
tcet III AL the same. He couldn't Withstand
the destinations Of the strnot mud now he Ia
Z the cashier Of u ANAL banking concern at u
salary of $500 year.
The $p0.00n man stuck 10 II, too. Some
times he WAS well clad and sometimes not az
well Occasionally ho made y little atrtlsn ~
q few hundred and speedily Loaf II all. When
he got particularly hard aground he would
alp up home and stay awhile. but he wound
soon return with u small capital and try
again. On August 1 iast he appeared with
500, which heput M "a margin with broker
who hal handled hnndreda of thousands FOR
him In his flush days and began to buy
Atpcke. lie struck the frat OF hie great
hood-tide that has inundated the country
and came Ia with IL. A ha profits neraaaed
be kept ON buying steadily putting In
all he had with the nerve OF SOLDIER and
with wisdom gained Of previous experience
he stopped short three daya ago. when the
market became ohoppy and uncertain and
reeted ON hts oars with $ah0, 900 In bank This
safely invested IN per cents would give him
All income Of $40, ONO a year. enough for a man
OF simple tastes 10 live on comfortably: but
he stloks to tho atreet aud Ia atill going In TO
make a million. and IN NIL human probability
he will keen at Il until he Is down again. and
will wind UP by Joining the small army of
curhstonc brokers' who lead a wrrtched eKiat-
ence and finally fade away nobody knows
whittier.