St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1886-12-22
"BEAR" CAMMACK HAPPY.

flop" and go to trading on the other side
of the market They step inside and watch
their opportunity to make an attack on the
market and rush prices up again. The bear
leaders pursue the same course.
The street in general, though. goes with
the market. In other words. when stocks
are going up they are buyers. When stocks
are going down, on the other hand, they
are sellers.
The big bear is Addison Cammack. He
STAYS in the hollow of the speculative tree
until he sees things are ripe for a raid, and
| then he descends and makes a raid which
causes a scampering among the small trad
erS. He has always been bear, and could
not be anything else. 1t never seemed nat
ural for him to trade on the other side of
the market.
For the past few months scarcely a
glimpse has been caught of him. He kept
away from the Windsor and Fifth Avenue
| hotels. which he was wont to visit daily.
He was never seen in Wall street. and the
| belief began to prevail that he had aban-
| doned speculation entirely.
An announcement that he was to retire
on his fortune would not have been at
all surprising. 1t turned out that he was
simply keeping his weather eye open.
put in an appearance at his old haunts.
| He was all ready for business. He did not
miss anything that was going on. but kept
himself thoroughly posted on the state of
| the market and the doings of the other
| spectators.
At the proper moment he dumped on
the Market" in the parlance of the street,
and sent prices Keeling. He sold short
every stock on the list that was worth SELL
| ing.
The army OF small traders who play ON
fluctuations saw the way things were 60
| ing. and turned in to help him. The big
bulls could not withstand the pressure. The
market acted as if a Dakota cyclone had
| struck it.
| In three days Cammack had bagged as
many hundred thousand dollars. He thinks
| there are some more profits to be picked up
here and there by the bears before another
| advance is started. 1t is calculated that his
total scoop will not be far from $500. 600.
The story was that he lost $500, 900 try
| ing to stop the last rise. 1t was probably
true. Both the bull ard bear leaders have
! to test stocks and have to spend money to
| get the market in shape for movement
The spending of money in the way de-
| scribed is, in speculative sense an invest
| ment Money has to be used to make
money in Wall street the same as anywhere
| else.
Charles F. Woerishoffer was plunger
on the bear side. 1t was nothing great for
him to spend quarter or half million
starting a tumble in prices. Once he got
them going they went like row of bricks
Then he raked in the profits at rate that
made I'D in short order the expenditure.
Cammack is not reckless nCr even daring
in his trading. He is determined though
and when he makes up his mind to in
augurate campaign he goes at it in style
that results in something giving way. He
is now worth between $4,000. 900 and ST.
0O0 600. He made his whole fortune in the
| street.
The present bear programme is to keep
up operations until after the January pay
ments of interest and dividends. These
disbursements will make money easier.
Tight money helps bear operations.
| During the panic last week it loaned as
high as per cent. day, OF at the rate of
800 per cent. a year.
If the interstate commerce bill becomes
a law in its present state it will have very
marked effect on stock values and the bears
WILL it is expected, take advantage of it to
make another raid on the market.