San Antonio daily light. [volume] (San Antonio, Tex.) 1886-1907, 1888-09-24
A NEAT SCHEME.

Business was rather dull in Wall street one
September a few years back. There had
been dearth of speculative movement, most
of the large operators were still enjoying
their vacations, and the ticker moved in a
itful way, betokenipg to the initiated that
about all the activity there was depended on
a couple of hundred perspiring and shouting
mortals who pass by the name Of room
traders" As these gentlemen, however,
under such circumstances usually engage in
transactions which may aptly be compared
to swapping jackets, it can be understood
that there was little in the condition of the
market to crafty those brokers who depend
upon public patronage for their commissions
and profits.
Mr. Frank Saffron accordingly sat in his
front Office, and though outwardly philosoph-
ical in appearance and conversation, chafed
inwardly over the fact that he had moth
ing to do Not an order had reached him in
several days. He had wandered disconso-
lately over to the board only to find the
TRADERS" aforesaid ''scalping" one another
for Fights, and coming back to his Office
found no better employment than reading the
newspaper. 1t might be remarked that IN
der ordinary circumstances Mr.. Safron's
yearly profits averaged upward of $50, 00O
but he nevertheless found himself meditating
as to whether he should reduce expenses by
giving up his yacht or his horses.
This melancholy train of thought was how
ever averted by the opening Of the Office door,
and the entrance of a stranger He was a
man Of tall stature and powerful frame, and
pair of keen blue eyes, and hair and side
whiskers which, originally brown, seemed to
have become prematurely gray. He was at
tired, though the weather was quite warm,
in mill fitting, double breasted frock coat of
dark material, and wore on his head a felt
hat with high crown and broad brim, his
general appearance corresponding, as Mr..
Saffron noted, to that of prosperous west
ern business man.
SIS this Mr. Safron'" said the stranger, in
loud, hearty voice
THAT is my NAME" replied Saffron, rising.
"An old friend of yours" resumed the
stranger, "a Mr. Halstead, who lives out
our way, recommended nae to you. My name
is Coit-Homer n. Colt, of Omaha"
''Glad TO know you, Mr.. Colt" said Sa-
from, taking the strangers outstretched hand
and remembering the former client whose
name was mentioned, and, who, having come
to grief in the market, had followed the sage
advice about going west. "What can l do
for your
"Well," was the reply, ~ am here in New
York partly for business and partly for
pleasure. I'm in the lumber trade out my
way, and there are'some big contracts to be
let here, so am looking after them. Now
I've always wanted to try my hand at stocks,
and as Halstead spoke so we'll of you, l
thought I'd come down and put up little
money, and see If | couldn't knock my ex-
penses ont of this game of yours. What's the
ante, anyway
Under ordinary circumstances Saffron
would have required a moro formal identifi-
cation of a prospective customer. He was,
however, somewhat taken by the westerner's
frank, hearty manner, and remarked, as the
latter drew pocketboOk from the breast Of
his coat, that the custom of the street wasfor
the deposit of margin equal TO 10 per cent. on
the par value Of the stocks carried for a Gus
toner's account.
That's all right" said Mr.. Colt, unfold.
ing roll of bills, which Saffron could see
were of large denominations. Here's s4,-
600 in currency. You see expected to be
moving around between here and Boston.
and Philadelphia, and not caring to be both
cred with bank drafts, brought the stuff with
me- By the way" added he, perhaps it is
dangerous for me to carry q lot OF loose
money around with me- Can't l put it all
up with YOU and have you check it to me as
l want any?'
Saffron saw no objection to this, and Mr..
Colt accordingly Transferred about thou
sand dollars more into the hands of his
banker, and, replacing his pocketbook in its
place with q sigh of relief, proceeded to ask
what could he done in the market
Now, although dullness reigned through
Waltz street, there were some stocks which
Saffron thought might in little while yield
fair return to a patient Spectator, and
Mr. Colt accepted his advice; he strolled over
to the exchange, and bought few hundred
Of the shares in question for the former, after
which the westerner, who had given a quiet
uptown hotel as his address, took his depart
ure.
A week or so passed, during which
the market became more active, and
prices underwent a decided advance, the
stock in which Mr.. Homer n. Colts
margin was Invested sharing in the
rise to the extent of four or five points,
thus justifying Safron's opinion of It Colt
had neither been seen nor heard from, but
one morning he made his appearance, ex-
planning that he had taken a run over to Bos-
ton on business connected with his lumber
contTactz, He vas pleosed with tho sI1ccsss