Watertown republican. [volume] (Watertown, Wis.) 1860-1906, 1885-11-11
ON 'CHANGE.
An Incident of Wall Street-How a Young
Man Made His Money.
f. From the New York Times1

Man Made His Money.
From the New York Times
Before the bull boom enlivened Wall
Street spirits one of the best known
of the daring operators On the Stock
| Exchange was the son OF an ex-rail-
road PRESIDENT He has an income of
500 day or over above all his reg
ular personal expenses. Heis a prom
inent figure in society, butit is in Wall
Street that he disports most, as he
has ever since he first possessed any
| money OF his own. He was a bull
long ago, even in the time when Add
son Cammack, Woerishoffer, Henry
N. Smith, and the rest of the bear
| leaders had everything their own way.
| One day he took $4,000 down town
| in addition to deposit account of
$4,000 more that he had there, and
despite all the bear auguries he bought
| heavily OF a stock upon which the
bear contingent were making their
most furious onslaughts. All OF his
100000 went into margins. His
friends tried to dissuade him from g.
speculation which they insisted could
end only in wiping out his entire in
vestment, but he was not to be infu-
enced. In went his money, all of it.
The next day brought him sadness;
the stock had sold off two or three
points, and the closing hour of
business on the Stock Exchange
had left it very weak. The
day following opened with an
al L; n ,o.o1IIxx
melting away. The stock was down
six points. He saw therecord as soon
as the Stock Exchange opened, for, like
most of the habitues of Wall Street,
he could not leave business outside Of
his house, and in his bedroom he had
set up one of the regular Stock Ex-
change tickers, giving the official rec
ord of every sale made. When he saw
how things were drifting, he didn't 60
down town. His brokers came rush
ing up to his residence, only to be met
with the information that he was sick,
very sick, unable to see anybody, the
doctors almost despairing of his life
Messenger boy after messenger boy
rang that door-bell that day, all un-
availingly. Nobody was admitted
The stock was down II or Ii points
the next morning, and almost every
announcement over the ticker showed
further declines. The 100000 was
gone, and minute by minute, ''differ-
ences" were piling up on his account
which already reached almost another
! 100000, when the distracted specula-
tor sent for q friend whose advice was
that he 60 right down town, lace his
brokers, and try to bridge over affairs
in some way in hurry, pledging a
settlement out of his accruing income
if no other way was possible. He
had just acceded to this when the
long suffering bell rang and the name
of his broker was announced. 1t was
9 o'clock in the morning, an hour be-
fore the time for beginning business on
the Stock Exchange. There was a little
time for planning, for with q desperate
air the ''sick" man had directed that
the broker be shown up to the room.
In he came, just g. moment alter a
the ticker, hiding it from view. The
customer was in bed, with a face dole
full enough for an entire hospital. The
friend had withdrawn into side TO om
Phrases polite enough, but showing
something of an outside anxiety, per-
haps, came from the visitor. He was
sorry to learn of his customers illness,
he said, for there were lively times in
the street, and he knew his customer
would SO much enjoy them if he were
only able to take a hand in the game.
"Ah, yes," said the man on the pill
lows, half gasping for breath, "ah, yes,
I wish | were able to get down town,
but the fact is I've been so terribly
sick that I've not only been unable to
transact any business, but I've really
not seen a newspaper for days, and
haven't the slightest idea of how the
stock market is going"
cit is going down." was his visitors
contentious comment"
Clown, Ell? Well, Pm sorry to hear
that. | believe I have little account
with your firm, haven't |? II it goes
down far / suppose will soon be on
the verge of getting into your debt"
"We've got claim of about $50, 900
against you now"
sPhew can that be so? Well, there
has been tumble indeed. My dear
fellow, I'm obliged to you for not
troubling me while I've been sick. |
won't forget the favor. | will try to
get down to see you tomorrow, If I'm
able; anyhow, I'll be strong enough to
make you out a check then to square
things"
The broker was relieved. Evidently
his customer had really been sick, and,
evidently, too, he had money at hand
to pay all claims against him. Thus
assured, the good man arose with pro-
| fuse we'll wishes and made ready to
take his leave.
''I'll try to look over the stock re-
| ports to-day" said the sick man. cit
is a great surprise, indeed, that prices
have gone down SO, though as [ told
| you, I've not been strong enough to
| look once at a newspa-"
"Click, click, clickety click" came
tack hammer sound from under that
dressing gown. Business on the Stock
Exchange had begun; that diabolical
ticker had begun it's work. It's record