Evening star. [volume] (Washington, D.C.) 1854-1972, 1881-04-30
SHEARINE THE LAMBS.
Some of the Tricks of Wall Stree
Shari1erS.

"How are the lambs deeced In Wall street,"
was asked OF q well known broker.
"There are dozens OF ways in which the
thing can be done," was the reply.
please state some OF the methods" per-
sisted the seeker af5er Information, who was a
New York Star reporter.
"Well II you will promise not to print my
name will tell you how many of the brokers
toward fleeing lamb is to pull wool over his
eyes. II there Is certain stock to be unloadea
upon him he must be made to believe that 1t Is
to his advantage to purchase"
zone favorite method was illustrated few
days ago, when certain parties sought to un-
load st. Paul stock by causing report to be
that Wall street speciality. They secured the
Insertion In metropolitan journal that
shines for all OF bogus announcement that
prominent broker was at the head OF a pool for
making the alleged corner The result was
that hundreds of amateur spectators were In
duced to purchase St. Paul at a figure much
above its actual value"
"Who are the lambs?-
"Of course. they are not old brokers or ex-
per1enced spectators. They are composed
mostly of two classes. In the first place, q
those who know little or nothing OF the ms and
outs Of Wall street. but who have an 1rresisu-
BILE impulse to try their luck on the wheel of
fortune. The other large class is composed OF
persons who, having extra cash on hand, de-
sire to make Investments, so that their money
will not be idle In this class may be found,
among Others. elderly maiden ladies, widows,
have little store laid by for q rainy day.
These people are easily misled."
DO you consider mining stocks especially
attractive bait for the capture of gudgeonss"
yes; they have been for some time all the
rage. People are induced to invest In them by
the promise that their money will be returned
to them doubled or trebled In amount"
"HOW about Oil stOcks?"
BOh nil ia nlavpd ont QS mpiium for anonI1-
lation. You see the Standard company has
monopolized the business by securing. either
directly or Indirectly, the control Of all the
sharpers had to turn their attention to some
thing else, and they hit upon mining ventures.
A mine Is something like an OIL well. II 1t is
unproductive there is almost always hope that
nttie more digging Will reach the metal
sought. Even If the managers have no hope
that the speculation Will pan out, they make
the stockholders think that it Will pay to con-
upon the market, where they are gobbled up
by the gudgeons, who do not know that they
are caught until they feel the hook"
,,, ~" ,o there any way IN which man can try
his luck with Investments In stocks and Sc
curittes and be certain that he will not lose by
the transact1on?"
There is no sure road to wealth as far as
wall street Specuiatl0nS are concerned.
person with small or moderate amount Of
capital who puts up what are called margins
cannot operate long without being cleaned
liable points from some heavy operator, he
may stand better chance of winning; but
such men as Russell Sage and Jay Gould are
not In the habit OF giving points. Whatever
prefer to use 1t to their own advantage. 1t Is
well known fact that Uncle Daniel Drew, in
bis lifetime, seldom or never furnished q point
unless he intended to mislead. II Uncle Daniel
had stock which he wished to unload, he
would slyly whisper In the ears of his friends
that it was good thing to buy. The willy Old
SPECTATOR is dead and gone, but there are
scores of men in the street who are Initiating
his method Of fleeing he Innocent lambs.n