Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1883-11-22
NORRIS RANGER's CAREER
Striking Points in the Life Of
This Napoleon Of liverpool
Finance.
Pail Mall Gazette.

AtCu0e WIN hll4t OuNAt tAN Ae'N Wv
weeks his brilliant career has been one
long series OF triumphs. Spectators,
brokers, merchants stood ia awe OF
him aud his long headed calculations.
His success provoked many imltators
and his operations were the envy OF
the timid. This fnsn cial giant, who
lowered far above his brethren OF the
Liverpool flags, is a German jew, a
fact on which our anh.Semites will
no doubt have much to say. He is
native of Hesse- Cassel, and in per-
sonal appearance is said to be the
living counterpart Of Napoleon Ill,
I'm the small, piercing eye, the i'm
perial mustache, the clear complex,
ion, the air OF half mystery, half
frankness-in fact, in the tout en-
semble-the resemblance is striking
to a degree. He has q well knit,
broad set, substantial figure. and has
a certain bearing and gravityin tea-
ture and form that bespeak impor-
lance" Unfortunately, like the EN-
porer of whom he IS said to be the
counterpart, he has met his Sedan
His career has been too eventual one
day he has been up, another down; he
has made fortunes and lost them; and
who knows but one day, his three
quarters Of a million Of debts being
wiped off the slate, and, the chasten,
ing process over, helnay commence
operations again, corner markets and
buy futures with as much zeal and
temerity as ever2 In spite Of his
huge losses-and his losses have
already brought about many others
be is surrounded by sympathetic
friends. Although many blame him
for the gigantic, not 10 say reckless,
nature Of his transactions in the mar-
ket, itissaid TO be fact that the vast
majority Of the people on Change
sincerely sympathize with him in his
present difficulties. Why not? II
they are not gamblers all, " they were
sufficiently in the game to sympathize
with their fallen chief. If he as a
seller was reckless, so were they who
bought.
Some Is yerrs ago, according to one
account, Mr.. Ranger settled in Liy.
erpool. When young he served in the
house Of Fatman& Co., the New York
cotton merchants. he rapidly distin-
| guished himself, aud ultimately began
business on his own account, in asso-
citation with his former employers
Eventually he came 10 Liverpool al
the representative Of Fatman 4 Co.
and brought with himiletters Of credit
to Messrs. ]. II. Schroeder & Co.
general merchants and bankers, o.
| Liverpool. lie took an Office on theii
premises, and under their auspices OBJ
tanned odinlroductions to the trade
| in Liverpool and in Manchester. II
few years time he had received /
very fair share Of the cotton business
Of these centers, supplying spinners
merchants, or brokers He theI
passed into the business of dealing il
futures" and soon developed into
large and bold Spectator, 1t was il
1879 that he first became known as
"cornerer," and a curious and bu
little known history Of those transac
tons is told by a correspondent of thu
Manchester Examiner: 80 far as il
known it arose accidentally out O.
some other operations in which Mr.
Ranger was engaged. During tn,
summer OF 1879, so runs tn,
story, he sold large quan
titles of cotton for Russia ant
North Europe for November deliv
cry, and he consequently bought sim
liar amounts Of cotton for October de-
livery on the arrival market 10 Liver
pool. On making an examination O.
his books he was struck with the fac
that the arrival market had engaged h
deliver him more cotton in October
than it was at all probable could be il
Liverpool in that month. A NOR,
careful examination confirming thi
position, Mr.. Ranger entered upoi
further purchases, so as to make tn
corner certainty, and tighten The
squeeze which he saw would ensue
Much of the cotton was probably solt
by merchants who had greater faith il
the sailing qualities OF their vessel
than had Mr.. Ranger. That gentle
man 5 anticipations we're realized. A
number Of vessels we're wind bound
and after every bale Of cotton available
had been delivered there was still
great deficiency, and MERCHANTS ha,
nothing to do Tor it but to buy in %
tober delivery in order to fulfill thei
engagements, and to pay the corner
price, Much Of the cotton had beer
sold by bears, and they also, 0
course, as we'll as the merchants con
eerned, had to buy back from Mr.
Ranger on his own terms"
The next notable corner" occurre,
in 1881. Itwas a success for the spec
ulstors, though prices did not get III
to the same level as in 1879. Thi
was Mr.. Rangers greatest SUCCESS
and be Melted some e2O0000 BY tn
transaction, though he is said to hav
lost half Of it in clearing himself 0
the vast quantities Of cotton he held
In 1882 his operations were on
smaller scale. The story of this year
transactions tells OF a succession o
bad luck, The basis OF his calcula-
tlJns was that there would be de
cline in prices. In May, June ant
July he sold largely, intending 10 bu
| In at profit. lnstead, however, O
prices falling, the market rose. thu
cotton crop proved smaller than Mr.
Ranger had allowed for, and the con
sumption Of cotton by the mills wa
greater. 1t is said that his losses il
September we're $4,000 or 900, 900
and in October el50,000 was placed a
his disposal to meet bis engagements
| Mr.. Rangers liabilities arc sesti.
mated at el090,0O0, his assets A
e350,00O. 2 III Il
Mr.. Ranger has always been highl,
respected 10 Liverpool. "As illustra
ting his disposition" says the CORE
spondent from whom We have quoted
before, 1T may be observed that dur
ing the time Of the last cotton cornel
a number Of poor men specialized un
wisely and lost heavily to him, but ID
many cases he iorgsve the debts en-
tirely. He has the reputation Of show
ing a largo hearted liberality TO IN,
Jewish community, both in Liverpoo
and elsewhere, and bis plain and sim.
pie mode OF life in Catherine street
Liverpool, and his transformations ex,
penditure when away from homo, hay,
been subjects Of remark over and over
again. His private charity has beer
upon a very liberal scale, and a little
while ago he had, it is said, as man,
as hundred pensioners largely de-
pendent upon him FOR daily bread.
| Considering the hundreds OF iamilie,
ruined by his campaigns on the Coitor
Change, there hardly seems 70 b,
much reason for holding up our hand
in gratitude for these few cruinbI
which this modern Dives fling to N,
Lazarus at his gate.