St. Johnsbury Caledonian. [volume] (St. Johnsbury, Vt.) 1867-1919, 1880-12-10
A Poets Rise and Fall in Wall
Street

Last spring received, says Joaquin
Miller III the Californian, letter from
the editor of the chief London magazine
asking me to write him an article to be
entitled ga Week in Wall Street"
knew nothing whatever of Wall
street then. | resolved, however, to
oblige my friend. | went into Wall
street at once to get the desired infor-
nation and experience.
This was six months ago. / have
just got back. / have not yet written
Il line of that article. But | have ma
terial enough to write a book big
ger than 'Macaulay's History of En-
gland" l know all | want to know
about Wall street. And, if you will
pardon the depression, 1 may. add that
l am getting bald headed.
Finding but little interest in this
great maelstrOm of excitement without
taking part, l, under the advice of nv
broker, bought little Wabash |
bought Wabash because it was the FIRST
stock on the list which | could distin-
guish from the mass of 200 names. And
| came to remember it because | had
been born on its banks, as it were.
Indeed, on the very banks of the Wa
bash River have seen my father fur
row the field for corn in the spring,
while my mother followed after, drop
ping the corn in the furrow while three
little boys toddled after, myself of the
number, and covered the grain that
lay in the little squares of the mellow
earth. And so it was with touch of
tenderness that bought Wabash, and
became one of the eager party holding
on to the tape, watching, waiting the
turn of fortunes wheel.
She did not betray me. Ny stock
began to move upward from the first.
1t was not so dull now. How interest
ing it all was! called the click of the
''ticker" the pulse and the heart beat
of the nation. If the land was healthy
and prosperous, the pulse beat high and
buoyant. If the land was threatened
with drOuth, short crops or misfortune
of any kind, the pulse was low, fever
ish and dull. 1t was like Il poem.
had now an interest in the prosper
ity of the land beyond Il sentiment. |
was part owner in the one hundred
thousand miles of railways in America.
From that day forth | studied the ge-
ography of my country as never before.
My little uptown room in the fourth
story was lined with maps of American
railways. In less than a week | could
quote the opening or closing prices OF
half the stock on the list.
How patiently held on to the tape
along with the other timid and hopeful
little lambs We would exchange
opinions, encourage each other, and
lay great plans for the future. We
became very confidential, our little
knot around that "ticker;n and when
one OF our set lost money he had Oul
honest sympathy. They were pleasant
days, the first, for stock went up stead
lily, and it seemed at last, when and
where / had least suspected it, was to
make fortune without either care OF
toll. l am perfectly certain that in
those few weeks grew to be better
| man.
At last closed out. | had in nv
hand more than $4,000. l had not in
vested so many hundred. What scribe
had ever been so fortunate Stocks
still advanced. 1t seemed as if they
would never stop going up.
sat down and tried for days to de.
eide what to do. COolly, deliberately
and after as much and as mature
thought rs l am capable of, wen
back to Wall street with my money
l had no use for $4,000; l had grea
use for $5O,000. l hug myself in salts
faction now to remember that though
not so much of myself as Of my friend,
at that time. | could get on with tina
small sum well. But away out on tn,
great, gold shore of the vast West sea
wanted to build a hOme-a CITY.
would gather about me the dear spirit
of old. In some sweet spot where ther,
were woods and cool waters, a warn
sun and prolific soil, we would nee
and build a city-a city of refuge
where every Bohemian might come an,
have a home, rest, peace, plenty, s.
long as he or she should care to stay
/ even drew up a plan of my city, an,
framed few brief laws for its govern
ment. named it Utopia.
On returning to Wall street cbos
three different brokers-one "bull
house, one "bear" house, and one
conservative" house. BY this | hope
to get all sorts of opinions. | gc
them. s# rI.
With my "bears" l sold st. Par
short, There was talk of rust, gras.