The Ohio Democrat. (Logan, O. [Ohio]) 1886-1906, 1888-11-03

AT this the place seemed very close and
oppressive to Luddington, and he got out into
the fresh air as fast as he could. He did not
feel hungry and was able without inconven-
ience to save the ten cents which his bowl
of bread and milk usually cost him. He
walked the lunch time away thinking.
"My luclS!" he falteted. "My luck! /
had no business going into it. I have
preached against it all my life, and my con-
science told me it was wrong. deserve
what am getting"
He thought whether he should not go back,
order the stock sold, lose the 500 and save
the other $50 before it should be too late.
"No," said he, 81 will not do It, That is
just my trouble. never have nerve enough.
give up too quick. For once 1 will try
what nerve will do. If the thing goes it
| can all CO." And he thought bitterly that
that the chances were many to one that it
all would 20.
The experience he was going through was
| far from pleasant, and he resolved that
| whichever way the thing turned out he
| would let speculation alone thereafter 1t
was disquieting to the nerves, kept one in
| constant apprehension, made it hard to sleep
at night and disagreeable to wake up in the
morning.
Next day the market was better. North
western had recovered its loss and had crept
| up to 126M. He could close out, make SIS and
be out of his worry He was tempted to do
it. But rising market now elated him as
much as a declining one had depressed him
the day previous. Like all amateur specu-
lators he was ''bull" He could see no
reason why stocks should not continue to
rise. Perhaps in another day or two they
would go up point or two and then he
would "feel like kicking himself' if he sold
now. Again he expressed the conviction
that 1t was proper time for the exhibition
of "nerve" by holding on. So he held on.
For some days the market was "firm but
inactive" Stocks would neither go up nor
down, and Luddington suffered more anxi-
ETY. and mental strain than several times
fifty dollars would pay for. Then one day
there was little rise. Northwestern got
up to 1914, the point at which he had or
dered his stock to be sold, and he drew out
twenty dollars of clear profit on less than
weeks investment
Then he shared his secret with his wife.
He could afford to tell her now. And Alice
was in sense pleased. She was glad of the
clear gain TO the small bank account. And
yet her satisfaction was not as lively as
John had expected. She seemed to be lit
tie troubled about the manner in which this
easily-got money was earned, and asked
some troublesome questions Her husband
explained the matter in such way as to re-
feet good deal of credit on his sagacity
and nerve as stock operator, but Alice
somehow seemed disposed to attribute his
success to accident. She advised him to be
thankful for his go cd luck, put the money
In bank and let stock alone thereafter for
she had heard that it was not safe bust
ness. He half promised that he would do so.
And this promise he kept for awhile. But
he continued to watch the stock market,
noted its fluctuations closely and made
imaginary investments to see how they
would come out. They came out so well
that he came to believe that possibly he was
great financier in disguise, man who
might be rich if he had little more nerve,
instead of fifteen-dolar-a- week clerk for
Griggs 81 Co. He studied comparative
tables of stocks and found that less than a
year before Northwestern common had been
down to 40. To think of that Why, If
he had then bought 500 shares, as he could
have done, and held on to it, his $500 would
have swelled to IS, 800, q sum that he could
never hope to get by keeping books at s15
week. The thought made him fairly dizzy.
Having scored one small success in Wall
street it was not likely that this intoxicated
young man would keep out of it. The idea
of making fortune in q few months grew
upon him. He thought of his faithful, hard
working little wife, cooking, washing,
drudging, denying and saving-and he
thought what a life he would give her could
he but succeed in the stock market. Then
would come the long -dreamed-of home, its
handsome furniture, its horse and carriage
servants to do the work, friends and pleas
urea life that would indeed be worth
living!
But of all these wild dreams he said not q
word to patient, loving, hoping Alice. He
had surprised her once. Might he not soon
give her a grand surprised She should yet
acknowledge his abilities which somehow
he felt that she underrated.
But he hesitated and waited. "What If it
should go the other way" he asked himself
and lacked the ''nerve" that was to lead
him on to fortune.
Monday there was almost a panic in Wall
street. Stocks all went down with tum-
BILE, like row Of bricks set on end. Then
they rallied, steadied, gained little and an
other turn downwards. BY and by the
market seemed to settle and Northwestern
was fully five points lower than when Lud-
dington had made his lucky purchase. The
brokers were unanimous that there was
nothing to make them 20 lower. The panic
was u mere scare, the result of manipua-
tions by the bears and the circulation of idle
gossip and false rumors. Never had there
been such chance to make money in stocks,
they said. They were bound to so up, and
up good deal higher than they were be-
fore. Our amateur speculator thought he
recognized his opportunity ut last In a
moment of uncomfortable impulse he drew
out all the money in bank. This time he
would play for big stake. Instead OF 20 he
bought 200 shares Of Northwestern COM
mon. SIT served me we'll before" he
thought. 81 will try it again. Surely it
can't go lower than 1t is now"
And the very next day was the day on
which the great break in Manhattan Ele-
waited occurred, carrying every thing down
with it. Then there was real panic on the
New York Stock Exchange. Northwestern
went down TO III snuffing out John Lud-
| dington's $500 margin as whirlwind
snuifs out u candle. When he went into
| broker'B Office and saw what had happened
| he turned pale, but he was cool and col
| lected
"There is only one more thing to do" he
| said, 'Icant tell Alice what have DONE