The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1884-05-18
FINANCIALLY SPEAKING.


oapilallsls, aud more especially from thu
isle financial crash on Wall street, arO we
reminded Of The palpeble truth OF the old
adaee that, riches take 10 themselves
wings and AZ AWAY" And II may b. as
serted as equally true, that those Who envy
the wealthy do no. FOR moment appreciate
The Disadvantages, aud sometimes the dis
cimiorts attending the possession OF
boarded riches. Some OF the poorest men
OF the cDuntry--yes. Thousands Of the almost
poyert y.strlcken citizens OF the lsnd-who
onyy VAnpIRnILT. GOULD, BAoE and other
millionairea, arc better conlenied, are mora
supromsly happy and certainly less restless
IN spiri. than any OF the money KinRa OF
She country. To-day these stock gamblers
roll IN wosl,h aud tomorrow they are
walking the streets beggaro. Their wealth
",oos ~ Ike srocset md comes down like
"a Stick
The mere act OF taking care oi.the wealth
Of GOULD, for instance, 10 enough to send
any ordinary manlto an early and prems.
turs grave. Should all his wealth consist
eloae Ia money, hari cash, ne would DO IN
continual 'oAr OF losing 70. II in real estate
houses, etc., constant care and vigilance
must be used IN looking after ienlP, insur-
anco, taxes and repalfs. But the greaturt
trouble, ha most serious source OF the in
convenience q wealth arises whore the
wcsllh consists n bonds, railroad, csnnl
etate, county o.d municipal bonds.
This kind OF wealth Ia mora un.
stable, less reliable aud more certain
Of fluctuatlon than tibet OF any othsr bnd.
And Il Is OF this description OF wealth at
tho co-onlled money kings axe Dosseas,3 OF
70 a greater or leSs degree. And this class
81 r'ches, this species OF property or wealth,
10 less stable, ore more liable to the sudden
ups aud downs OF the markets OF the conn
iry than any other kinda OF stocks. 1t 10 q
kind OF property that IA, above oil, others,
more unreliable In value and that more un.
expectedly 10 .tho,commerclal world, rises
und fslls NJ tho dlctum Of the. bulls or the
bears, and leaves penniless in moment he
Who was rich but IN hour ego.
A recent issue Of q New York paper gives
few examples ofhow rapid stocks may
DO decreased and the enormous loss atten.
dant upon . decline in tho market,
thus showing the instability OF this class
OF wealth. The paper thus summarizes
as tollows: Among the GOULD olocks,
within a few months, here 10 Western
Unlon gone from IS Ia 10 60 La q decline
Of %; Missouri Pacific from l06 rs to so Ia
decline OF 20 5.s; M.nhatton from % TO
81, decline of s, Union Pacific from lCi "a
to 90 IL, decline Of 30 Ii, and Wabash
Common and preferred nearly wiped out,
dropping from SO Sd Tor common 10 S.4
and from 81 l.2 for preferred to 10 Id!
Look at the VAgDgRDILrs-Now York
Central falling from 100 I-8 TO ll3 Ia, Lake
Shore from III to 05 rs, Michigan Cen.
trail from 100 Is to 80 8 s. aud Chicago &
Northwestern from 40 LIS TO Ill 3-S.
We believe Loaf the stock of the Western
Union IL estimated 10 amount TO $50, COO, 600,
and tia. JAZZ GoULD owns a majority OF the
stock. Tho reader can readily see what an
enormous loss he sustsins in its deprecia-
ton. HENRY WILLARD was wrecked by the
shrinking Of the stock OF tho Northern Pc
cifo. The Union Pacific recently, IS will
Ue eStH hOOFct ttSAlLeA bNNi PAoiN ~ Si N~N1
thousand shares and como one, whether
ball or bear or what not, hes lost on enor-
nous sum.
And il Is just ,uci tranaactiops
as these given above, just such
reckless gambling ia stocks and
bonds, just such indecent haste TO accumu.
late vast wealth that often causes feeling
OF uneasiness In commercial circles and that
hurls upon the country disastrous pauics.
II these stocks gamblerS alone were the Hut.
ierers no great damage would be incurred,
bat as 1t affects ali branches OF trade AID in'
dus,ry the question assumes = serious as
poet aud calls for remedy irom the politi-
col economists Of the day. Verify, give me
neither poverty nor riches" was a sensible
Bay ing Of Az OLD time writer, for both are
exceedingly snd sometimes painfully In
con yguiaEt.
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