Wichita eagle., 1888-01-12
HOW TO MAKE MONEY.
stephen v. White, the Well Known Wall
street Operator, on Financiering.

success in Wall street depends good deal
upon mans environment. Ii he gets into a
brokers' Office where there are live and STIR
ring men, and he has good staying qualities,
he will probably rise from the humber Gu-
ties of a clerk TO a wider field of operation.
But there ale offices within n stones throw
where old fogyism prevails, and 4 man might
rs well be paving the streets for fortune as
TO enter one of them. There are employers
who seem to think that nobody connected
with them ought TO rise. A man seeking 10
make Wall street the scene of his life work
should exercise great care and discrimination
to avoid such men. Does it require n special
aptitnie TO secure success IN Wall street.
Well, yes; it requires a special aptitude TO
succeed in any business.
''Sorle men, = he continued, ''are Tim Lin
kinwaters; you remember Cheeryble Broth
ers in Dickensf Tim knew every pigeonhoie
IN their desks and was IS familiar ami slow
as possible. These men do not rise n flight
above piGeonhoie and they never make any
thing better than highly priced confidential
clerks who are a great comfort to their EN-
ployers. That IS an aptitude that has its
manifest use IN the financial world, but il il
not that that develops a mans fortunes be-
rond the point OF decent living. On the
5ther hand. there are men who are the exact
opposite of the Tim Underwriters, men who
re all dash and brayaio, VINO attempt big
oup-that word | use because it expresses
he idea better than anything happen TO
now in the English lanGuace-such ineu are
lways sure to make worse failures in the
treet than the slow, methodical podderS
iet most outsiders, imagine, take all brokers
for Just such men, because the magnitude Of
operations Is ofttimeS binding aud the public
cannot see the real circumstances at the back
Of them.
"The essential difference between our bust
ness and that OF any other man is that n
broker has 10 square his books every day and
see where he stands \ dry goods man could
fail and not find il ont for months. but If n
broker has not the capital 10 work with he
finds il out in double quick order. CONNER
cia paper Is of little account; he must have
collateral.
"The great point to bear in mind about
Wall street business is this: II a man starts
in and wants to make fortune at once he
will barely make living; if he starts out
with the purpose of making a living he viii
end in most cases by making "A fortune. IL
will take about twenty years on the aver
age"
But does not the record show that S v
White made n million in one day on the oc-
casIon of certain series of transactions AT
Lackawaunag
Mr.. Whiue he IL not deacon at all, by
the way1 smiled all over his face az Lee re-
called that pleasant incident in his career.
That il about the figure" lie admitted,
"but YOU iursb.be in mind that ! bad been
time, and ha1i accumulated by conservative
management, avoiding sensational coups.
enough capital to justify the great risks
took on that Lackawanna operation But,
sir. that episode should be no false encour-
agement to young fellows. IL was the opyor-
:unity of lifetime, ard II ! had been a
Liukinwater it would have passed unlsvel-
oped and If ] had been from the start
plunger / should not have had the capital 70
stand the strain 1t involved louisville
Courier Journal