Watertown republican. [volume] (Watertown, Wis.) 1860-1906, 1881-06-29

oPOOAA"tO4. ne udSl Sr0ttJ 1UOa OF let
ting money get money. He liked to look
upon his sovereigns as so many golden
snoWballs which rolled along gathering
more gold as they went.
When at last, having taken decisive
step and comfortable apartments in the
town, he found himself an independent
man OF means, Job plunged heart and
soul into the business of money getting.
lie became great authority on stocks
and shares; and while other men were
studying the sporting columns of the
papers, he always turned to the money
article. .s
He invested every penny of his money,
and always in that which would bring
him the biggest interest. He had Span
1sh bonds and Turkish bonds, and bonds
OF those snug little states in South Amer
lea which were so generous in the matter
of interest.
For year or two all went on swim
m1ngly, and his speculations were pros
porous to degree. He got his big in
terest, lived on next to nothing, and in
vested the interest again so that it might
bring him more.
Many time when he was adding up
his possessions and putting down his
annual income in pencil on old billheads
OF the hotel, he would think of Mrs.
O'Sullivan's words and laugh. The
idea of his being buried by the parish!
1t was just when he was most satisfied
with the pecuniary result of his invest
ments that things took turn. A period
OF commercial depression set in, which
developed itself with energy. Foreign
states began to repudiate their liabili-
ties; home investments once considered
sound began to depreciate rapidly in
value.
Job became alarmed for some of his
securities, and rushed off to his broker
for advice. The advice given him was
sensible, but Job wouldn't take it. Panic
had set In, and Job was one of the nerv-
Gus holders who helped to make matters
worse.
His broker pointed out that to sell at
panic prices would be disastrous, but
Job would not listen to him. He would
save what ne could; he must make up
the loss another way
The first result of the panic to Job
was heavy loss of capital; but he got
the bulk of his money out of the fire.
He held the bright yellow gold, instead
of the flimsy paper that might some day
become absolutely worthless.
He kept his money in the bank idle
for week, and then began to fret. His
money was earning him nothing. What
was the paltry three per cent. the bank
allowed to him who had been getting
seven and eight?
He read money articles and prospec-
fuses OF new concerns promising ten per
cent. till the figures danced before his
eyes. He half determined for a six per
cent. investment which seemed sound,
and then he thought perhaps it would be
better to wait till something turned up
at seven.
At last he decided on six per cent,
and invested the money again. He
hadn't had the security month before
an alarmist article in one of the papers
made him Ill.
He lay awake all one night worrying
about his money, and the next morning
decided to realize there and then. He
made further heavy loss, for the alarm
ist article had had its effect; but he sold,
and got some of the money out of the
fire. This time he determined to hold it
safe-he would pass no more nights of
agony. He kept out of speculation for
two whole months, and during that time
he was utterly miserable.
He groaned over his diminished in
come-over the interest he ought to have
been getting, and was not. Suddenly
magnificent means of employing idle
capital was vouchsafed to the British
public. An enterprising gentleman-a
man of such unblemished reputation and
probity that he lectured on religion, and
always carried prayer-book in his
pocket-started bank for the benefit OF
his fellow creatures. 1t was called the
Cooperative Bank, and those who were
wise enough to deposit their money with
the unblemished religious gentleman re-
ceived 10 per cent. for it, The philan-
thropic proprietor made no mystery of
the reason he was able to allow such in
terest for deposits. The marvellous
system of cooperation did it all. In
stead of being selfish, like the worldly
minded magnates of Lombard street,
who make fortunes out of depositors,
this gentleman shared the profits with
the customers The bank had it's own
organ of publicity, which chronicled
faithfully, and the manager also sent
pamphlets broadcast over the country.
Job Scudder studied the pamphlet
carefully, and he also read the banks
newspaper. He even went up to town
and saw the manager. Everything was
explained to his satisfaction, even the
scandalous ibels which were circulated
by other banks against the concern.
Job quite understood, after an hours in
terview with the philanthropist, why the
newspapers ran the cooperative bank
down. They were all in the pay of
Lombard street, and Lombard street was
frightened. It knew if this novel bank
were q success it would have to shut up.
Who would deposit nancy at 3 per cent.
when he could get 10?
With the exception of very small
sum the whole Of Jobs capital still re-
naming went over to the counter of the
Cooperative bank-and it never came
| back again.