Democratic messenger., 1881-04-02
SPECULATING IN OIL.
The Ups and Downs of Life in Oil
City-Brokers' Wives in the Isx-
chauQee

A Philadelphia paper says :-Specula-
ton on the price of oil finds prominence
to-day. Magnificent oil exchanges were
erected in Oil City, Titusville, and Brad
ford. Here speculation is INDUCED on
the price of oil, the oil certificates being
the basis. One instance of now men
become rich III this speculation occurred
IN Oil City. Two brothers by the name
of Goethe, in 1867, were bootblacks
around the streets of the oil towns.
They made good deal of money, for
boys, and saved it. When they had
few hundreds saved they took flyer ON
the market. They were successful and
doubled success still followed them, and
to.day they are among the wealthiest
and most successful spectators in the
region. The magnificent generosity of
oil men is well known. A poor and
needy woman has often had thousands
of dollars raised for her among q crowd
of oil men, and in a few minutes she
was raised from poverty to opulence.
They spend money like water, and no
towns in the country will show better
dressed men and women than these.
They all almost universally wear dia-
monds upon their shirt bosoms, which
in many cases they are forced to pawn
for necessities before they have become
even accustomed to them. Speculation
is the life blood of Oil City. When the
market is dull, inactive for few DAYS.
it is noticeable in every place. Business
stagnates, men get the ''blues," and the
town is dull indeed. But let the market
be variable, fortunes are being made
and lost, men are excited, the streets
are alive with oil brokers rushing back
and forth between banks and exchange
with certificates, drafts, checks, and
even money in their hands. The wives
of the brokers crowd to the exchange,
and, filling the visitors gallery, watch
the operations of their husbands.
Some time ago, in one of these ex-
changes, the gallery was filed to over
flowing. The market was leaping up
at the rate of ten cents an hour. One
of the heaviest buyers was on the wrong
side. He saw his fortune disappearing
like mist at the rate of $50, 600 an hour.
For six hours this continued. and he
was forced 20 clay down" as it is called;
to be announced a bankrupt, in other
words. His wife was a witness of the
whole scene. An hour before the worst
came she left the exchange, walked
into dry goods store, took off her
sealskin sack, and sold it. From that
place she went to the jewelers., and
disposed of her diamonds and all her
silver When her husband returned
home, disconsolate and downcast, she
met him at the door dressed in a neat
calico wrapper. He had been clerk
before fortune smiled upon him, and
she a modest school teacher. She in
formed him that she had discharged all
the servants, and that they would live
as formerly, she doing the work. She
handed linn $5, 500 as the result of sell
ing her jewelry. and told him to use it.
Joy and hope beamed in his eyes, and
found place in his heart again. He
went again to the business. In one
month he had gained his former posi-
ton, had redeemed everything his wife
had pledged, and was living as formerly.
Three times within six years was this
man saved in this manner by his wife.
To-day he is one of the most daring and
successful of our spectators.