Alma record. (Alma, Mich.) 1878-1928, 1886-06-18
San Francisco Stock Gambling.

am confident that the romance OF
stock gambling will never be written.
writes a San Francisco correspondent OF
The Sacramento Bee. Life here is too
rapid, too pushing for men to pause
and reflect on that curious 'has been"
of San Francisco. But i never stroll
down Pine street, or linger in the shad-
ows of Pauper alley, but meet some
one who would be entitled to place in
that unwritten romance. The tall iig-
ure, a face clean cut and refined, gait
slow and painful from the effect of an
old wound. is before me as ! write,
James ID. Walker ten years ago was q
member of the bonanza firm, and his
check was good for $500, 600, aye, or
81 200. 900, at any bank in the country.
Then Flood and Fair bought him out,
and Walker opened brokers' Office
under the Nevada bank, and did all the
business of his former partners. In
these times Flood, Fair, and Mackey
were on the top notch Of speculation.
/ They were swinging the market at their
own sweet will, and making or break
ING the thousands who were battling
with the fierce tide of Safeguarding.
Alexander Austin. or SANDY" as his
feiends used to call him, had just served
his term as tax collector, and went in
with Walker How they did make
things boom The high-salaried clerks
the book keeper got $500 month,
and had sumptuous lunch served ev-
cry day in large room in the rear OF
the Office at the expense OF the firm.
Their expenses were enormous, but SO
was their business. The partners were
clearing $4,000 a month. but they were
standing on the brink of prec-
pice. Flood remarked that otheV
and outside brokers were manip
ulating certain stock precisely
rs his own brokers. This would never
do, so he called Il consultation. and in
formed the Walker firm that sort of
thing would not do, that there was "a
traitor in the camp somewhere, and
that, unless he was detected and fired,
their relations could not continue.
Close and earnest investigation was
made, but without avail. Then came IA
transaction of more than ordinary inn
portance, but to the intense disgust of
the bonanza firm. it was apparently
forcseen and anticipated by these same
outside brokers, kept posted, apparent
", by some traitor in the Walker-Aus-
tin camp. Then the bonanza people
changed their broker and from that
hour the fortunes of Walker IL Co. be-
gan TO decline. Matters grew worse
and worse. Austin committed suicide.
Walker sold magnificent mansion IN
Oakland which cost him close on $500
300, to prop up the waning glory of the
swell firm. At last it was clean case
of bust, and don't believe Mr. Walker
to-day could put his hand on $500.
saw him looking wistfully at thcNevadg
bank building. probably comparing the
different states of Flood. the member
and Walker. the cX-membcr, of the
bonanza firm. lie discovered. when too
late. that the high-priced bOokkeepel
was the traitor. He sold his employers
but no luck ever came of his treachery
and he is TO-DAY keeping books at so
Il month for Il Hebrew clothes-dcaler j:
Portland, Ore.
Walker is but type OF hundreds OF
others who have had their chance anC
their day on Pine street. With ;
TRANCE faulty these wrecks still cling
to the locality where they made anC
lost fortunes in the past. though nine
tenths of them have not u dime tC
speculate with and could not get crcdi
for IA glass of lager. when their name.
| decade ago were sufficient guarantee
!: for dozen or fifty dozen cases o
champagne. A few have pulled on
with small stake. and there are some
, there on the street yet who have a littl,
money. and would speculate if the.
saw an opening, and not a few fanatic,
who await the coming of the Messiah
the discovery of another great bonanza