The Camden journal. [volume] (Camden, S.C.) 1866-1891, 1879-04-17
A LnckY Holder.

A San Francisco correspondent "Tltee
There are so many curious turns OF
fortunes wheel on the Comstock:
heard only yesterday Of n case where
cold-blooded persistency Of purpose and
tenacity of grit in face Of most discour-
aging circumstances won big fortune
and the case is the more remarkable
because, knowing the parties, meet
ing them almost every day, being fami:
liar with their surroundings, ETC.,
never before heard Of it. 1t leaked out
only by accident. Mr.. Root is the man
who designed all the machinery, laid al:
the plans, made all the contracts, and
superintended the work of building Gov
Stanford's famous wire-cable street-rail.
road in this city, which runs q distance
of two miles through the richest and
best part of the city, and is to-day the
model street-railway of the continent
Root is 3 young man, not over thlrty.slx
thin, wiry, homely, and--well, shabby
He is a splendid mechanic. and though
for a long time in Central Pacific em.
ploy, nobody knew him until ne built
the Stanford street-railway, entirely on
his own plans, that there was 30 much
in him. To look at him you wouldn
think Root ever saw mining-stock
Yet one day when Sierra Nevada
was booming along at 200, Root walked
into the office of a leading broker, an
old friend, and said:
dan, guess wO'd better get rid oi
some Of this now," and lie handed over
two certificates, one of 500 shares and
the other of 100. Dan" took them,
looked them over, and noticed that the
backs of both were perfectly covered
with receipts for assessments.
"Where in the world did you get
thcse?" asked Dan. .,
Bought 'em four years ago." said
Root. "Had 'em lying in my trunk ever
since. Paid, I think, fifty cents share
for some, six bits for some more, and got
some for two bits. Been paying assess
ments ever since religiously, and the
whole lot stands me in about $5 share.
I want YOU to sell half of it now. for ]
guess it's time to call the turn" and
within three days 300 shares of Roots
stock found a market at from $3.50 to
1920, and his broker passed to his credit
over $50, 1000.
The other 300 shares he got rid of at
1925 and S240, and about $4,000 more
went to his credit. He hauled down
S5O, 1000, and then, as to the rest, said to
his broker (and here is the point / want
to make), II want you to put SO many
thousand into Norcross, so many into
California, SO many into Curry, and sc
many into Belcher. Pay for them, let
them lie; and when assessments come
pay on them"
But" said the broker, "you may
have to wait, and"-
THAT'S just what I expect to do
wait. But sooner or later some one OF
the other Of those stocks will make me q
fortune" i
And this is the spirit thatiour average
working Californian goes into spccula'
ton on the Comstock with. Few here
buy Comstock stocks for dividends. Let
mime there begin to pay dividends. and
unless they are very big, or the mine
has prospect Of keeping them up, not q
dollar is added to the value of the stock
Our quiet buyer, our business man: oul
shrewd capitalist, are all actuated BY
the same idea. Buy them when they
are cheap, lay them away, and sooner OF
later if any mine within mile makes
strike we may make 500 per cent. lftht
strike should come in our own mine VIZ
may make from 5000 toto, 600 per cent.
and. perhaps, if Ne have stock enough
walk off with the fortune we expected tt
have to work all our lives for"