Savannah morning news. [volume] (Savannah) 1868-1887, 1886-11-13
FORTUNES nY LUCK.
The Wall Street Man OEen Gets
Rich by the Purest Accident.
From. tho Ne,o York Sun.

Aiich by the Purest Accident.
From. tho Neso York Sun.
A %ell-known broker of Wall street
was chatting few days ago with some
friends, and somew hat surprised them by
asserting that luck has had more TO do
with the making of sudden and immense
fortunes in the street than is commonly
supposed. He referred Cor one example
to his own experience, and said that
twice he had found himself a hundred
Thousand dollars or more better off at
night than he was in the morning, and
mao at once realized, although when he
went down to the street that day he had
40 idea OF making such a comfortable
sum. Three times by sheer accident. for
winch he was not to blame, he had Iost a
pretty little fortune, and ne believed that
ms own experience could he matched by
very many OF the spectators oftne street.
| vi course, he excepted those great opera.
tors who, from their control of immense
| amounts Of cash, from their ownership of
controlling interests in large properties,
and their ability to manipulate the
market, were placed beyond the power of
lucky or unlucky accident TO affect greatly
their wealth.
"fernaps the most remarkable case
that ever came under nv observations
the broker went on to say, Twas that of
one OF the most con servatiVe men now on
the street. lie is now simply broker,
and since Black Friday has never spocu-
lated one dollars worth You remember
That three or four men brought on the
panic now known as Black Friday by
cornerlng gold, and running the price up
I'LL many operators were ruined, the
street was in wild panic, and universal
smash seemed imminent. These men
relied on what they believed to he good
assurance that the government would put
no gold on the market that day, and they
had locked up pretty much all the rest OF
the gold in the country that was avail
able. Right in the midst OF the panic,
when the street was like a mad house,
and many men who in the morning sup
| posed themselves rich, were almost stark
staring mad over the ruin which had
befallen them In a lew hours. and when
almost the highest figures bad been
touched and nobody was selling SHORT,
this broker to whom | refer suddenly lost
his head. He had covered early in the
morning at comparatively small loss,
and had been looking in during the day
without any personal anxiety, except
that caused by the fear OF a panic that
would knock the bottom out OF every
thing. suddenly, he never knew WHY,
nor has he any but the most vague recOl-
lection of the transaction, be rushed into
the bawling. bowling pit and sold right
and left at their highest figures. lie
probably might have avoided his con-
tracts or his friends have invalidated
them for him, for he was undoubtedly in
sane when he did this. At al! events, he
was still selling, when suddenly there
came that little message from Secretary
Boutwell, that knocked the bottom out OF
the corner in the twinkli ling of an eye, sell
five millions of gold
I'm half an hour more nv friend would
have been lunatic pauper, and as il was,
his brother, think, or some near relative,
found him utterly irresponsible, and with
good deal OF difficulty LED him a way to
his office. There. when be was told OF the
order of Boutwell,, and that the bottom
had dropped out of The panic, he did not
seem to comprehend the truth at all, but
mum bled somethingwhich nobody under
stood. His contracts, however, we're
found, and taken care of by his clerks
and rapid estimate showed that he stood
to the good not far from a quarter of a
million. When they told him he did not
/ seem to comprehend. He had not been
drinking, for be was teetotaler. Sud
denly they missed him. They could not
| find him in the street, nor In the gold
room, nor at any of the other brokers'
offices he was accustomed TO visit. No.
body had seen him. He had not gone to
his home, and his family at midnight, be-
coming thoroughly alarmed, notified the
police that he was missing and tempo
rarily deranged. He was found wander
ing up Broadway long past midnight,
muttering his calls and recognizing no
one. Nor did he know any one tor nearly
two weeks. He was OIL the verge OF
paralysis of the brain and barely pulled
| through. When, after two weeks illness,
he woke one morning rational, his first
! thought was that he was on Change. He
remember nothing Of mis- operations,
| but recalled very wildly so much of the
! panic as he had witnessed before he be-
gan TO operate himself 1t was a long
, time before his physician permitted him to
| be Told that he had by his crazy freak
made fortune. He has kept it. 100, for
from that day to this, as ] said, he has
| never bought stock except for invest
| ment.
There was another case that Pm
| always reminded OF when | see a young
man in the street, who is very bright
! chap, and will be heard from some day.
| His father was the president OF q savings
! bank somewhere down East, ard some
where in 1870 took q lot Of southern Min
nescIa seconds at 80. lie intended to buy
them for the bank, but thinking he had q
! good thing kept hem himself. The panic
| OF '73 Knocked Southern MlrnCsotas down
/ 10 nothing, and the president threw the
bonds into a box In his library at his
house. Ee was a terward obliged TO COM
promise with his creditors and threw In a
| lot OF stuff, among il being, as he sup
posed. the Southern MinnesOtas, The
] whole lot at that time would not have
! brought over $500. Later this man came
| to New York and went on the street. He
/ made money at first, but either in the
summer Of 80or early in 81 be was badly
bitten in oil, and was, as he supposed, a
ru ned man again. The very evening that
re had madeup his nina 10 ask the next
day for an accom- IN odatiOn from his credi-
tors, his boy, who was then about IA,
came to him to ask il he might have n
piece OF paper with pictures on 1t to paste
IN his scrap book.
''rhe father was about to say yes with
out looking, when he recognized the crisp
rustling OF parchm ent paDer such as are
usually used for bonds. He snatched the
bond from the boys hand, and il was
southern Minnesota, worth about par.
"Where on earth did you get thisP he
asked.
why, upin the attic in chest, where
some of your old books and papers are,
ana there are good many more of them
IL don't think the father was long in