National Republican., 1883-04-18
THE MAN ON THE AVENUE.
Small Talk About Men and Measure.

"Jay Gould docs not run tho market on
Wall street, as the general public and many
speculators think" observed broker ac-
quaintanco yesterday. "An impression pre-.
walls that ho sits In his little back office and
decides 10 bull or bear certain stocks, and
that tho market must so that way. Nothing
can bo moro erroneous. Tho boys on tho
floor Of tho stock board establish markets.
Gould and ono or two big operators begin
business by testing tho pulse Of tho market
every day. They buy or sell 10000 or 10000
shares. If the market shows weakness
when they throw stock at IL, they dump one
| or two hundred thousand shares on tho
| boys and hammer IL down still lower. If,
however, the market shows buoyancy, and
the stock which is thrown ont as a fecler is
snapped up readily, tho big fish change thoir
tactics and 90 with tho crowd, helping tho
market along. The successful millionaire
spectators make their money. not by fight
ing tho crowd, but by going with tho crowd.
Back Of and behind these continual scalping
deals the heavy weights, who are also owners of
largo blocks Of stocks in tho railways they
control, have settled plans and programmes,
but policies looking 10 ultimate results have
less influence on daily fluctuations Of the mar
ket than most people suppose, Scalpers play
football with their own property rs quickly
as anybody else, knowing that on tho
long run their holdings will 90 for what they
are worth, regardless Of daily movements Of
prices up and down the scale As a matter Of
course, tho mon who trade in stocks can check
any big decline In their own property, pro.
vided they have money enough and their in.
forest lies that way, but they have a borrow
Of bucking against tho crowd when the feol.
ing is honestly aud unmistakably against
them"
"speakiug Of Col. Jack Wharton" said a
statesman from the south as he was conclud.
ing some good stories about that inimitable
wit Of other days. In the sergoant-at-arms'
room Of the senate, "did you ever hear Of
Dan Wilson, whartons right bowerS Well,
Wilson, or Old Dan, as every one calls him,
was the butt of good many jokes when
Wharton was alive, but he always kicked
back. II was hard to get ahead Of him. The
boys of the club ono day concluded 10 give
| Wilson q present. One Of them bought q
paste diamond for about S., and Il was then
whispered around, SO that IL would get "a
Wilson's ears, that the boys OF tho club were
going to make him a present As a token OF
their esteem, They all met for this purpose
on certain night, and one Of the boys, In
a neat speech, presented the diAmond-a
large snowy stone. Tho old man wa,
overcome; he could hardly speAk-hi'
voice trembled, and In subdued tones he
he said he did not know that he was thought
SO much of-said IL was worth all tho littl,
property he had In New Orleans to know that
l.e had such friends. Itwas really painful q
hear tho old man talk on, knowing aS they
did that the diamond was only a glitterine
fraud, and that Dan would swear like pirate
and shoot somebody II he found II out Wen
the old man thought IL was genuine o
course-he never suspected friends. He
even wrote 20 his mother about IL aud spoke
of the appreciation in which his friends held
him, and of the substantial proof he had re
ceived Of their unselhsh friendship.
"one day a chance remark made Dan sus
pirious, and in place of the ripping, placid