Ellsworth American. [volume] (Ellsworth, Me.) 1855-current, 1881-11-10

all ending to this sort of thing must come.
Stocks cannot 20 on booming forever Bus
mess prosperity runs IN waves. and since
1873 We have been steadily going up tow ard
the crest of the blllow. and Just a. certainly,
when We reach the highest point, We must
prepare for a plunge into the hollow below
Ii would I've foolish 10 attempt Ia predict
when that time will come By comhlnn-
ton Of circumstances it might he upon vs.
before the present wear l. out. and then again
It may he DELAYED for several years But
when the crisis arrives 1t ma, be conidcutl,
asserted that no, few persons ~ill be- taken
unawure> /, is almost ALWAYS the case that
IN a panic tho chief loser, are those who arc
NOT rrgularl, in the business. and hence have
not the mean. uf detecting IN advance those
slight warnings which
rEoGNo>rt,,rF rmF COMING STORM.
When it j, found a> /, ), alma., sur, to
be- that merchant, and other, have been us-
ug money that did not belong TO them ,n
stock operations. It i, very probable that the
magnitude uf the los, occaNJuuci Wi.l pro-
duoc rcvui,Ipn Of fcrhns. and that tins
form uf dishonesty Wii, receive the very
black title that Il deserves. and those who
practice It sheltered. they may be. from
criminal pun!stmcutJ wi,i receive their mer-
tied commercial aud socIal condemnation.
II = hardly necessary 90 enter into pr'-
ir,' against stock speculation per- H. What
ha, been said refer. who'll, to those Nhn PIP
mo-, ri.k ,t.5, MN hur tL, ,pan,, uL..f,
r...btf,lI, h.,I,,,,.. =. n,h,r. man. i,r,-
,.n-lrpt.,-,l b., hrs. ,bli..,,i,r. vt.tl. rn
i..,,.., ,r +, .,,ck ,.,.,,r, H.. r,,t., to-, I,r.,
,,,,.rf j.. ,l, i.l..r..f .,,,,. .,r,,,u. H..
u.,, 6l,,rc ,a, ,n' hi. own satisfaction ,i,,t
tt, .,a-A Of , r,-,a.n railroad ramp.i, is
below tie ,n.c ,a.lc. ,,a,.a,riu- .t. present
profits af o., ia'Hfe prospects. 'ud Y, ="
arguing. De- may p1f'.i'>' i'.." pre-. .>'.A '.r
"A' D, "Sa'H h'' pnA. "high De- i'.i'''a
"'FIt 'r r'ht"r'" ia ''ih' hN ihr ET'"ih
Hi ''."" '' "' i1' 'afTt ."s "li 10y sons
"a. ia. Improvement hl' i "Arf'H' 'a
''.DA~. - H..# n'.rnsr Than iu REAL r-.t.',
i''' Tue ven. .T'> 'rn 'aA' are p, 'a' '..'ir
I'An~. 't'a.. results 'a.''iN 'h'5f ''I''..'Hi
i"--. iHr r'l~t, stocks "hith 'rr iH"''
i''GH'"'., ut..' 'Hr h''.' n ,Fr'H.t. NH
Sales Au+ purchases. hfr managed 10 '... a
"'' i'ai "'h'r factors i"''..c Tie mere ltT.
'1''I.' PROSPECT "i 'h' CONF 'iE enter ta 'a
1'..If i.' ''. '.-'itA.t"'. iN' -."' d. i". 'N-
AMPLE. '' iA' Hi"" i'A'h. fHi'"tN - "..'.-
4H.''A,''A'tf. H"t, '-l'N f"lh ~ "A' ihs''
m'i.H' ago "l'' mono the ''>'. i' I' '''uH-
81 iI"'H -" ." ~ Jess peg ,h.f' me-" ''lA
i' "'' ''til- Change "' iH.' maS".''''.'.
"i"'H' apparent reason cannot DE- 'A.ri'
''.'a upon hN 'h' "A' l' s''HF' AINN"t-
d" ''"' ~ VAN just ih' ''in' a''''-i'' "i
reason 'hr N''..' m.-H' decline =" "T even
- more, a'i. "tM IS 'AI- of i..- fAiilHA+
snN.'r> '' 90 "r 'o "' lcrr>. With %" closest
h-ar"-. au4 even "''H ihr possession v "A
u-.'ii-dc of ''-r1ii'1 ''p".n'-. ihe
OUTSIDE >rI,.I-,IuE
mn, II M, ,,o,. go. its market ..p.,y,.,,
Il. .,. I..., ,,l t.4 &c.,. ,r,..,.,, .,,t..'.,.
it....,I i, thr -u.,.m With mo-, lr,k
,r, =. a,.,r,,d A demos, f,r ru,,,.q IN
.l.,.,, Slu ,,., .h,,, f.r bi..h rr,,,.l .,a.L.
,b,u.h vk,.r rh.. ,,.rk,- il ,,ri,,I ,,.d ,,,
CERTAIN d,nb1r tin. ,,,o,i.t i sometime.
aL-IE- man - ,,-,,.r,,i,..t, tiu,.f,I
p,,,,s "a ho buy. IN h, ovp iudsmrpr /,
.,r.,, bIork .f. .,.rk. s,, .inn cy iO1O .b,-..
.i,Ae. ms non,y for a lnrs,e priz, but II
,L. tiIa it,rp, ar,in., him hi. los. i equally
I,rre. II ma, no, in the least matter th,f
IN. ,rn.k /, inrrn.i.tlI, worth nm ,ba, Y,
u,iI fnr If and even NOR. Tbr advance
which h, forr.av may IN I'M. end TAX, nI.r,
Lu- unl.., M, b,. fb,. mean, n hi. conn
maud !, b,fI hi. p,,rrt... ,br,,,,,h .,,,J N.
pnrt and evil rep5rt. hi. iuJ,mrY, jywnr.h
uu,hin. and hi. action j. imprl,lrn, Il, r..h-
hess. BYr i, /, i.st her, that the. foil, Of
stock ,n.-r.,l,r,on IT,. Yer, fsv or ,b,..
who intere>, them.c.,e, in ihe., opcrat,on-
have the prudence To- keep within their
incans- \ man no active hu>iue~N may hc
t"icrahiN "t.i on. bat ms money may he so
Tea up lh1' he cannn' drup j in lamps %
e''Nn "f >i"'E"' tach 10 mhAe good iAt
Hrh,iehcy due ih great decline M the
market hrhce' after time, he icvls com
peii'd 10 surrender hs> claim. Too "iIrn Il
haPpth> lhA' th'>e great T>AN are assumed
ny lh">e "hn nave iilue or nothing tn ial!
back upon alter The hrSt deposit Is exhaust
ti' Ia these cases the tax about huyIng
with Judgment. everything considered, u
no better than the gamblers trust IN some
combination Of numbers or col"rs he has in
vented. In the purchase OF railway shares
'here Is no excuse 'or speculation, where The
purchase II not made either outright, or.
II taken on margin. where the purchaser
does not feel ahundantly able To take up the
shares, should great and unforeseen re-
ductIon n prlce take place. No doubt If
TINS plan was followed, speculation would
lose much OF It's charm to many. Mess
man has large capital AT his hack he could
not hope to make great gains; but, none
The less, tins Is the only Nay IN which Judg-
ment can be made To bear IT, return IN
prohts. lhe investor, let us suppose, has
CAREFULLY STUDIED
~. mod. rror, ,i,,. 90 ,;,,,. or
~