Alma record. (Alma, Mich.) 1878-1928, 1888-05-25
TIE GRfAT SPECULATION,

la Marble aLI Ma - a Panic
The panic in the Clark Svllle school
has naturally cast n o m over play.
ground and dormitorv, and it will prob
bl be long before The game OF M rblcs
VIC cr, is former standing as a repu
hu.e tlough rl.ky came
TIE panic was tinctly dle 10 over
t,aIHg IN marble. An Immense pu>i-
nr,S VAS done with insu l'c Mt cap a.
an hrinkagp in the valup OF rahb IS
or e e. securities would have prcclpl.
.otcl q Vau vt any tine during the
!l,t tLree months. Tie IA luro OF James
smith was, OF con SO. the mmedia Il
origin OF the panic bit he firm could
not in ans ey, nj, La kept it eli above
water more than - q or two longer
Master James = III Is not only
ski AL marbln-p aver bit he is a fnau
ciI Mus A. @ beginning Cf the
D cteut school term lie conceived
grand scheme for mr. ching h mself a d
al the BOYS WHO had 60 li.dercc in INN
He propose that he should borrow
marbles at hIgh ra g of interest, and
par b III is interest and Urge divi
douds out OF Iii, winnings 40 n marble
/ - tAs 4 ~ ~ Il WV W ~ ~llNh u l llh
him six marb es he offered 10 repay
nine m rifles with n two DAYS, and ia
ease the lender should reInvest boti
principal and profits h. under took L
rep1y him ut anv moment, with profits
at the rate OF 81 per cent. every two
DAYS
The offer was so temptj"~ .hat there
va q general anxiet- III the part Of the
b " 10 lend theU -'urblrs 10 james
Smith, AMI IN the coLtre Ot tue We
everv boy in the school had invested
in the narnIe pool II was understood
that James Smith was to win ma blcs
from boys urconrerted with the school,
but clrinsl, enough, no ole injured
where these bows were 10 be founl. rr
al what honr OF the night James Smith
Was II II. - hi Of secretly ge ting ont
1f lei ano g,ing off (. rIv with his
unknown alive saries The boys were.
however. periacly sal feel with il
method of condrc ing l.u mess. He
never fai ell TO ,euder large 0uan'iti,s
of mlrb es e. his patrons whenever, bv
the terms Of his con racls they wero
ent tied 10 Il vldrrd md they never
failed TO reiuvest tie whole amount
with him. Lac o them had de 'ided
g. make at least mi lou Of marbles
before CLOSING their accounts with James
Smith. and ihrf were eager not to draw
cinrbles bui tad to their Investments.
He local st re X, epcr, WHO sold mar
bles, consent d. after I q lo s had spent
OIL their money. o sell them marb S
on credit, provide | they W uld place
securities in his hands Most OF the
bows kept rabbi t., and they pledged
then rabbits. their TOYS. their jack
knives, and othrr negotiable sccuriiIes
vi II the utmost recklrssneSs. Last
Thursday night the books OF james
Smith showed that tweuty-eight mil
lions OF marb es in round Numbers we're
iur to the ,ixty-iour BOYS of the larks-
ii L. school On Friday M lit James
Smith announced his insolvency, aud
psSigned .O3 marbles TO the Greek pro.
Iessor in trust for his creditors.
The disaster was Vrecipi ated bv
,hrn age ia d O value OF rabbit, oaused
b. The breaking out of diStemper
among the rabbits h,pnthecaied wi h
,torekeeper The at'er. not knowing
at what moment all the rabbits my I
IL, zen alttu lllat llleN SHOULD lie re-
deemed L. order to redeem them their
owners were COMPELLED to call in the
mai bleS they hai inve ell with j mes
SIN Ga Tn Later was unable to re-
81 oud to the call panic followed, and
the unfortunate boys lot both their
marbles aud their hypothccaied securi.
ties.
The principal q. the school invcsti.
rated the aItr, of James Smith on
lalurdav alte noon with three consecu.
| ye appl tree switches Of the largest
hZe.. James SHitll had played marb as
with the on o. the JAM o Of the female
semi ary. ON two or 'hrcc occas Gus aud
lallns..h. Is. L le d vdcnl winch
he lend rel TO lis victims we simply
the Investments NJ d. 10y other vic ma.
H. had NO; won a 81 glr q -itlma'e mr..
be during las entire care, r asa maril,
tnucier AMI u, the winrira CO div
r.n'arhed wirncr'r Ia ,toppci to Sc
~. - A.'~ sw.vcA, .iis oYa;.u, \ lad lNson