Sacramento daily record-union. [volume] (Sacramento [Calif.]) 1875-1891, 1880-12-18
" I believe / have heard OF some cases
x.,b,ob ~ rr,s dopa ,, sold Charlie

thrown on their honor, but it is neces-
sary precaution, when we are forced to
employ men who are, to a great extent,
strangers to US. As matter of fact, how.
ever, you can have no safer investment,
and many of our clerks leave their surplus
savings with US"
'' believe it will be necessary for me
to write to my father for his advice and
assistance, said Charlie.
Well, call around when you get his
reply, and we will be glad to see you, !"
and with bow which made his shirt front
creak, the broker dismissed Charlie to go
on his way rejoicing,
Meeting Frank Dawlish on the street,
Charlie asked him, g What kind of people
are Steams & Darkle %
Kind of people !" he repeated. ''Why,
they are on the inside of all the best things
going, and are doing rushing business
Charkup's business must be worth thou
sands of dollars to them. Not so much in
actual pay, perhaps, for believe he is keen
enough not to pay them cent directly,
but in favors and the prestige it brings
them, not to speak of information in ad-
vance of every new deal.
But are they solid, responsible peo-
ple!"
"Ah, now you've got mel !" replied
Dawlish, with a knowing laugh. "Who
can tell who is or is not responsible and
solid in this business of dealing in stocks !?
1 should say that if they confne them
selves to legitimate broking business,
buying and selling for other people, they
are undoubtedly solid. Why, seat in
the big board must be worth over
$4,000, and their incomes, from commits
sions, is very large"
They probably spend their incomes. !"
Undoubtedly; they spend most of
them. A man can live only one life, and
can't carry away his money with him when
he dies. But there is no danger on that
score. The real danger with such men is
that they will dabble in stocks on their
own account, and sooner or later they are
bound to be caught, for in stocks it is dog
eat dog, and your nearest friend will turn
ON you, if he thinks he is the stronger.
The temptations to gamble is almost
irresistible, when one sees big coups being
made on every side, with little apparent
risk of loss. So long as times are good
and the market booming, as it is now, it is
impossible to tell who is or is not I'M
sound"
eBut how do these enormous incomes
grow from the small commission brokers'
charge?"
Have you ever sat by a crowd of poker
players, and kept an account of the sums
placed in the pool? | have, and can tell
you that, although each individual player
may not have stake of more than from
twenty to fifty dollars, the aggregate of
the sums placed on the table in nights
play will amount up into the thousands.
Suppose that every time the money was
pushed backwards and forwards on the
table the saloon keeper was allowed to
charge a small percentage ON each pool,
how long would it be before each mans
stake of fifty dollars, say, would be alb
sorbed That is. perhaps, simpler form
of gambling, but the principle is the same.
The small players, who cut in with their
five or ten dollars, are swallowed up by the
men with larger capital, who can afford to
wait for the turn of luck, and who know
the run of the cards, and the saloon
keeper takes toll from all. The only diff
ference here is that the brokers are the
saloon-keepers and the big brokers are the
professional sports.
He might have added that he was one of
the cappers of the game, to complete the
analogy, but, however candid he might be
about other peoples business, he was reti-
cent enough about his own. You will find
no one more ready to preach against drunk
enness than the confirmed drunkard- Until
you ask him to take drink. 1t might be
said that he was spelling his own game,
but the temptation to show his superior
insight was too strong, and then luckily
preaching for or against cause seldom
does much harm.
"Your comparisons are scarcely compli-
mentary to the stock broking business, D
said Charlie.
swell, what will you have? A man
must live, and they might do worse"
They could scarcely do much worse
without finding themselves in the peniten-
tiary."
sob, yes, they could-at least so far as
the actual business of buying and selling
stocks on commission is concerned. They
are necessary evils, if you will, but so are
lawyers, and so is your tailor. Men. aye,
and women, too. will gamble, in spite of
all the laws that ever were framed And the
women They're the worst in the deck.
I've seen them come down in crowds to the
offices with their dimes. But what's the
odds It's good to bleed them once in a
while. They might get too rich. Live
and let live, l say"
The gambling instinct was evidently i'm.
planted in the human breast for the benefit
of such as Dawlish. and was so far com.
mendable.
SIS dealing in stocks necessarily gam
bling ?" asked Charlie.
"of course it is; but it amt any worse
than the law allows. The law does not
stop poker-playing or drinking any more
than dealing in stocks"
"The law is express against gambling .
swell, what's the difference between a
Ill n,I -, akooI-,S 7 -.