The Bossier banner. [volume] (Bellevue, Bossier Parish, La.) 1859-1952, 1888-03-29

VIC o'"hudrui tHdC some SpeculatOr had
purchased 10000 American eagles on
margin, and that they should fall to
nifty per cent. discount If he could
not make his margin good he would be
sold out, albeit absolutely sure that the
eagles were worth ten dollars. Not to
be able to furnish margins when re-
quired is in Wall street financial dam
nation. But he who has made good
investment and paid for it need not
trouble himself concerning quotations.
Their rise or fall can not affect him. He
is superior to the manipulations of the
market-to the raids of the whole bear
clique. Thousands of men see their
chances of profit slip away every month
simply because they can no longer hold
on to their securities, and are often
chagrined to see them within few
weeks. perhaps few days, far above
par and buoyant. '.If had only had
little more money! they say then.
show much l might have NADER
What countless exclamations and USE
full regrets of this kind there always are
in the money barter of the continent!
1 have observed for years how money
is swallowed up in the vortex of specu-
lation. am continually going to
Wall street, feel proof against its
temptations-as like to watch its cur
rents and study human nature, of
which it is an excellent school. meet
acquaintances there from every part Of
the Hnioii.' Sne'd3ay encounter Smith.
of Denver, and inquire after Jones. of
Omaha, who told me, three months be-
fore, that he had cleared 100000 by
his operations.
'Jonesp 0, they've scalped him.
That last bear attack on the market
cleaned him out completely. He has
gone home without any thing; and had
100000 or $50O,000 made by land
speculation, when he came to New
York two years ago."
81 am very sorry for Jones'" reply.
HE was good fellow and full of en-
ergy."
"He was all of that" remarked
Smith. But he wasn't quite smart
enough for Wall street, I told him
last spring how he was going. but he
wouldn't believe me. Now he wishes
l fancy, that he had taken my advice.
A man has to get up pretty early in the
morning to stand the racket down
here" ~s.z+..
"Aren't you afraid, Smith. that
they'll get yoar scalp one of these
daysP"
mot a bit. They've tried it often;
but l wear all my hair yet. l know
their ways. I'm too old bird to be
caught" II
Some months later Iran upon Brown,
of Chicago. and after little chat l
express the hope that Smith is flourish
ing.
.Flourishing? Not exactly. Haven't
you heard what happened to himP
No? He went short on Reading, ard
he got busted in short order. He's SO
poor that he's in a cheap boarding
house in Harlem. You remember what
a figure he used to cut at the Windsor?
He's trying to get up again; but he
never can. His father left him hand
some fortune ten years ago, and he
couldn't raise $500 to-day. He's too
hopeful, too reckless. He doesn't know
| when to take in SAIL
"But mayn't you be in the same con-
dition some time? The Stock Exchange
is the most uncertain of places. A
man of your pursuits is always living
on a mine"
Don't bother about me. l watch
these thieves. They can't hurt me.
always sleep with one eye open, and
they know it. Chicago is sharper thar
New York. A man educated there car
get on anywhere. Robinson and l.
YOU know Robinson, of st. Louis
haven't got caught yet. and we dom
intend to be. We're as wide awake al
any of the boys, and they know it.
Six months later / am shaking hands
with Robinson in Exchange place, ant
refer to Brown, hoping he is still pros
porous.
II wish he were; but the fact is tina
he is broken down. That big tumbl,
in Western Union hurt him irreparably
and he had stroke of paralysis the
next week, and he hasn't been down
town since. 1t was partial only, but i
makes Brown look old. He's growr
fifteen years older since last June. Hi
sudden success turned his head. and III
i went in too deep. I'm afraid h
hasn't much left. A man in Wall stree
has to learn when to be bold and wher
to be cautious, and Brown never learned
this. 1t was one of the first lesson
| thatI learned, and / learned it thor
oughly. I've been operating here 81,
or seven years. and in that time Iv
seen scores of fellows ruined. Bnt Iv
never been crippled even, audi ascrib
my uniform success to judgment. Som
people call it luck. Bah, there's nj
such thing as luck.
"But is not your judgment fallible
One can not always keepon the righ
side of the marketa"