Telegram-herald., 1890-06-07
THE OBSERVER


ll-1a LIE at Less 5 veEla s.s
struggle fsr -x --1lce, ana l1s agl8 q
great oau.- Ls-a, morally. mentally
gays.l a u s21 Intellectually
IL tie Remote past tAe sartare vas
c1-er1y glys.-4- one. slfslzEl usact
victory. al sceo-y n-s4ll p.-zisr 4ll
continued eIslelee. aa.-s weakness
4+eal-5 lcru..- <---l res-l-e1 u Llr -1ss
o. ~ psrty. cos,toa 1-1 power, slavery
% 1eaLa- lQ1ay tl.lEz 4Es grea.4y
changed zE1 tee uA.n warfare : pg-l-
c.FaLy a. intellectual ole. s1ecess
, means yea ID and n0loTi Nnl.s f4l uge
leads ~ poverty Iuleuper4lce. distress
An4 very ren 81 ale.
The colQuEers oL cd were the great
gelera4s-.-ca - Alexander, Caesar
and Ham oal.
taings have changed, and the most
enFled of the pEesel. are tie great
nnanciers, the AsLors, Cooper, EisSi
could, kOckAfeller and several Others
" somewhat lees prominence
All Or These men started poor, and .
IS or THIS class Nc wish 10 speak, OF
their schemes and stratageuls, ot tAelI
fluctuations ia the value OF stocks, OF
the various forces, real and artificial,
speculative warfare, and OI the great
fortunes OI money klug5- Perhaps one
oI the greatest " modern nnancl0rs,
and one OF the nrsI 70 accumulate I'M
mense wealth, Was y andeTb..t.
lis successes were slccesslOus OF re-
maTA4ole financial victories. lis usual
method or acquiring money Was 90 in
vent conner ~ some stock. Having
succeeded, he would purchase .aTge
quantities OF some specla. stock, and by
shrewd means be would force is value
up from p 10 200 per cent and then
sell, selecting MS own convenient time.
Sometimes he would DO days, other
times weeks or months IN dlsposng OF
It. After the sale, stocks would drop
again. When low enough 20 SUIT ms
peculiar financial IDEAS. ne would buy
up. Ii would 20 and Mr. y. would sell
again. II the manner lie has been
known 20 make a million or more dol
lars IN A short rme, and AZ the same
time rum hundreds OF SINAI! operators.
For on WalI-st., what one speculator
makes another IS sure 10 lose.
Mr.. Y. made 8 500, 900 IN forty-eight
hours by one OF his schemes. He did II
IN the following manner. On December
-, lS0o, nc held $780, 900 shares of New
York Central railroad stock at 20 per
cent. above par. That night the direc-
tors met and declared an so per cent.
dividend
This operation raised the stock 65
per cent. above par at once, and Wall
street was robbed of five and half
millions OF dollars.
Tim -rrrf.re., rrrrr~ar,htr 90 the
has been told thousands Of times, but
his real personal history. tine record Of
secret schemes. the hidden plots and
counter plots, are difficult 10 reach, in
fact can never be reached, they are
known only 10 God and himself
There = much bad even among the sur
face good men, that can never be known
10 the world.
Vanderbilt was always IN the habit of
forcing stocks up, while the "bears"
habltualy endeavOred 70 lessen the
price.
Another great deal of the worlds
great operator was the manipulating OF
the Harlem railroad, IN which ne and
ms partner made something over So
500 900 III 2 very short time. II was
acc omplIshed IN the following manner.
Brokers are IN the habit 70 sell stocks
10 be delivered II the future.
At the time they contract TO sell their
stock they may not have q dollar OF il,
but intend before the time comes for
delivery 10 cover the sale thus made.
Consequently, If the stock goes down
before they have bargained TO deliver,
they reap a profit, but should It 20 up,
they lose. 50 when Harlem was selling
for 40 cents on the dollar, Vanderbilt
quietly bought it up and contracted
with various brokers TO have tncm de-
liver very large quantity at 80, bv
which they expected 70 make 10 per
cent. But during the meantime. by IN
expenditure of about $1,000, 900, the
stock WAS bought up and the price
forced up TO $50, four and One-half
times Its original value. Now what
was the result The brokers who agreed
70 deliver the stock 10 MS agents at
50 were compelled 10 first purchase
% OF him, Vanderbilt, at $50 and then
sell 10 again 20 him at 50, whereby upon
an investment OF about s., 900, ,0C0 he
eUchred his brokers out Of -. 500 900.
Is lt 10 De wondered that all king
operators like Vanderbilt were hated
by tho small operators on Wall-st?
Commodore Vanderbilt would not
hesitate 20 sacrifice MS best friends. or
even his nearest relation, to further his
schemes.
Many stories are reported concerning
INN. The small operators are always
watching for points. Thus Il they
should see one of Nanderbilt's sons or
confidential friends purchasing certain
stock, they would follow suit The
king operator would utilize this fact by
leading some one 10 purchase or sell
stock at the very time when the reverse
should be done.
II IS stated that az times ne would
take a fancy 20 brokers, who had made
bad failures. He would start them
anew by giving them from time % time
valuable points. When this became
known many brokers would follow the
lead of the parties thus helped. At
one time the Comm Odore advised these.
nfs favored friends. 70 buy certain
stocks where ne himself was sell n.
He used them 1s playtni0Es. The con
sequence was the advised brokers and a
large nuuoer Of ImitstOrs we're all
rured such persons were known as
Nauderh lts stool pigeons.
IT. IS al easy matter 20 make money.
70 become rich, # one does not care for
fuend or foe.
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