Sierra County advocate. [volume] (Kingston, N.M.) 1884-1960, 1888-06-23
sIEREA COUNTY,
FINANCIAL rOTPOURRl.
uoT IEJ ARE T3IPPEO Ut II
AVAIL. STREET.
pri,,sh Mobility and tne cuiis sad
Bears.

AIlkAsA AAc~A<Hy 'N
Eesrs.
tCopyyi3A 1888
a rIenr7 Willard is making steady FRO
rrcss towards his financial rehabilitation.
lie is now spoken Of as the next president
tf the Oregon TransContincntai Com
many, one CT the big corporations OK tic
Northwest, and he may yet becomc as
great n power as formcrlyin the Nort hern
Pacific. 1t does not seem TO be generally
known, but ono Of the real causes OF bls
downfall was his undue confidence III
"Baroi," Woeris shoffer. to whom lie re.
yea,ed MI his plans, Gll his hopes aud
fears. and the veal, points ia The North
ern Pacific Railroad giant, the Goliath
that was to be struck down by littlo
financial David with an Iscariot strain in
his calculating nature. When, in other
words. Woerishoffer saw that the North
ern Pacin was tcp-heavy, with a noun
famous load OF monetary difficulties, no
opencd FIRE upon It in fierce bear CANT
paign, selling thousands Of shares short"
with n daring that was only matched by
his trcnchery, and finally the price camo
down with q crash, and Henry Willard,
the newspaper correspondent, who had
climbed high in the FINANCIAL world, was
= practically ruined man. lie selects his
friends with more discretion now. They
are mostly Berlin bankers, who have
formed what is practically trust for tho
buyng of railroad securities. HIS e1-
perience demonstrates the folly OF trust
isg Wal. Street speculator.
One of the old time figures OF Wall
Street, who still finger supeiiiaous oii TIC
stage, Is now man somewhat advanced
fu years and known rs California Parker.
His experience was somewhat similar TO
that of Mr.. Willard. In 1863 he was bnl!-
fng Erie aud carrying q heavy load OF the
> stock. He was obliged to buy so much to
Zee, the nricc mp that he finally found
himself in financial difficulties. He went
10 Daniel Drew, then one of the giants OF
Wall Street, and showed his hand; he was
carving so much stock; the price could
easily be advanced, but hc must have
loan CT 1900, 900.
ttWhy that looks first rate" said Uncle
Daniel, as he was called, and his face wore
tbe benignsnt expression OF good Old
deacon welcoming new convert to the
church. "That looks first rate; seems as
.boiyh that 'crc scheme was good ono.
Icalculate can get you the money, my
en-, Como around tomorrow. And
Uncle Daniel, who when he was worth
millions still looked like an old farmer in
..,s,o-c clothes" dismissed the yonns
eneculator as with benedlction. Eated
Inv the prospect of securing the necessary
Reinforcement for prosecution OF Inc
fvht. the young operator hurried around
"a lie stock Exchange and bought
twenty-five or thirty thousand shares
more OF Erie. The sun was shining ana
The skies were blue in the financial irma
ment; the atmosphere was rose-tinted.
Promptly at 10 O'Clock the next morning
lie waited upon Uncle Daniel and said
swell, Mr.. Drew, I've come around Il
cst that loan Of Sc 900, ,oc0."
N"Ob, !" said the financier. after Pause
If to recall the circumstances, Times
/, hard, young man; money ! ind y
mighty skeerce. Icaa't get that s2,ouV,o ,oo'
.sr you, my son."
The fatherly look had changed for somc'
cling that 81 ggested the venerable char
actes in Paradise Lost" s---------~a~--.-