Seattle daily post-intelligencer. [volume] (Seattle, W.T. [Wash.]) 1881-1888, 1886-07-21
TChieaRo Daily Neus.l


/" What ig che average speculative Hfe
Of en- oatsidsr whe tackles - Rosr5 ~
Trade and tEisa 10 pnll tue iail out of the
AafEetaf' vas the eonundrnm pat 20 TIE
head Of one Of the oldest Commission
houses on Change.
fhe veteran aaf silent q moment, and
thsns as she faiatest shadow Of a smile
triekiod eefoss his face, be locked up
and remarked that be thoaeht bank
cashier nznAlly lasted longer than man
Who played his own money. Then,
graphing the subieca II sober earneat.
be said:
I" 1hAtis = funny question, and il sue-
eosfs neW Geld Of iS3astiQation. as
not knoW what Wonld Be the average
duration OF q speculative life, bat as
rough guess should say two years. ID
may not Be that long. and Il certainly
u not longer. have been II the com
mission business twenty-five years, and
am prepared 20 say that IL yon oan keep
. speculative customer on your books
for two years on an average, yea are
doing mighty well. Usually ths esm-
bier Who stays with yon that long gets
into you anywhere from 5000 70 500
900. More spectators than I can
couat upon the dnRers Of my two
hands have quit owing me $4,000
and over.
Not one man in ten wins il speoo
lation and ninety mine out Of every hun
dred will 70 broke Il they stick al Il
long enoaqh. Commissions eat no
speculative capital mighty fast. Were
il NOT for the oonstaat infusion 81 new
blood into the game We would eli 20 10
the pooEhouse, fm thinking. epsoula-
tive capital has 10 Be renewed every four
OF i've years. Tue kitty gets Is all
about that often.
II have made fortunes foe nany hun-
dreds OF men, and have YET 10 zee one
to silok 10 speculation and his money
viii give you one illustration. A few
years ago doctor called on me with
letter Of introduction from q bank eaah
Ter IN the town Of --. He thoaqht
there vas going to be big adyancs "a
oata. tbouRhf %. too. The doctors
frst venture was $4,000 bushals. The
purchase loossned the market and start
cd q regular boom. We bought ali the
way up, and at tue end Of the month
had 9 squeeze. TIE deal melted the
rural practitioner $50, 600 clear proht Ia
thirty days. Il developed daring thp
play that the deal was on ioint account
With my friend the cashier. I Rase TIE
doctor two checks and then took him
into my ofiso and rendered him & pieos
Of falheEiy advice, for bad taken quite
q fancy 10 him. Take this money and
get cut OF town Is quiek as the Lord
viii let you, said 20 him. II IL more
than yoa ever expeeted to see. Put 4
ghsFe you cannot got q. Slick Il into q
farm and ave Il 20 your wife or your
son on yoar mother. Give Il 10 any
body. Put it where yen can enjoy the
interest, bat where the principal VIII Be
beyond your reaeh- STAY hers and you
will iose every oeAt, sure ns fate. 4
never knew Il 10 fall Oh, no. be could
nos think Of ID. de wanted $4,000.
In four moafhs' time be vas hFote and
In my debt 5000. loaned him money
20 pay bic fare home. In six months
the bank cashier vas oa trial fer misap-
pFopFiatinR trust funds. 10 had blown
in bis winnings and q portion Of the
capital Of the bank. That h the his
tory Of thousands and tena Of thou
aandzn