Idaho news. (Blackfoot, Idaho) 1887-1891, 1890-05-24
A BROKERS' sroRY.


Exchange Broker and a Clerk.
An old stock exchange broker, who
has made several fortunes in the street
and lost them all. but who is now on
the road to another, related the other
day, says the N. Y. Times, an Interest,"
ing episode in his speculative career.
''Some fifty years ago." he said.
when had plenty of money and had
about concluded that the man who
allowed himself to 60 broke was an
idiot, a young man was shown into my
private Office. ] had never seen him
before He looked i'll and worried.
'"Mr. Blank he said, you don't
know me-
mo replied, 4 have not that
pleasure
r"Well, he went on, I know you,
and have heard that you are a gener-
GUS man. / want you to listen to me
for a moment. am the paying teller
/ in the Such-and-Such bank, and know
you from having seen you there. You
have had large sums on deposit there.
/ have been in the bank more than ten
years. believe am looked upon by
/ its officers as a trusted and valuable
employee. Some time ago, on what
believed to be good tip. bought 100
shares of stock-with my own money
of course. made few hundred dol
lars. The next time that / got a tip
from the same source bought 200
shares. and the market went against
me. / put up all my money for mar
gins, and it still went against me- Then
i took some of the banks funds and
then little more. To-day am $500
short in my accounts. If the amount
is not replaced in twenty-four hours i
shall be a ruined man. Perhaps | viii
be arrested. know of no way to raise
il, and have come to you TO ask you
if YOU will let me have it. don't
know when l can repay it, but l viii
repay it some time
II was somewhat astonished,n said
the broker. II said to him: You don't
: lack assurance, anyway
...I only lack $780, was his answer.
, "Well. / gave him the money, though
/ / thought was a fool for doing it. He
T thanked me, without much effusion,
and went away. In few days, being
! a very busy man, the incident slipped
: from nv mind. think it was about
! three wears later that / went cold, flat
! broke. Nv seat on the exchange had
/ to 90, and was completely cleaned
!, out. had to get trusted for shines.
didn't know which way TO turn. One
) day, while walking down Broadway,
: met nv young friend. He looked bet
ter than when saw him before.
n '.'How do you do, Mr.. Blankg' h'
g exclaimed, and he nearly broke smy
n hand with the grip he gave me- I've
r been hunting all over for you. he said
IS i heard that you had been unfortun
{, ate
!. ..Ttold him that was high priyat
in the regiment of the busted.
- ."I think can be of some service +
- YOU he told me. i left the Such-and
u = Such bank some months ago to becom
d the confidential clerk in the office o
.. So-and-So the lawyers. ! have her
u an agreement which has just bee
signed. do not think that anybod
3 but the principals. the lawyers, and my
rs self know that it exists
Y, ale handed me a paper. read
a and returned it to him, telling him this
IN he might consider the obligation car
"a celed. The document practically con
NJ pleted thu sale by Jay Gould to tn
~ Western Union Telegraph compan
- the STRONGEST IlNaA CfCA nav -
II Young man assured me that the tran
= action was not to be made public f
=! some days. That was sufficient f
az me. went at once to broker frien
ps told him what knew. and induced hi
ms to buy me 100 shares of Westel
he Union. The stock began to advance
alp once. put every dollar of my prof
into more stock. Western Union 70
steadily about 80 points, and when t
consolidation was announced and t
:. price was highest sold out l ma
$275, 600, which was sufficient to p
.at nv debts and leave me $4,000 to I
good. / have no idea how much
ae' broker friend made. met
I'M LAWYERS clerk afterward and joking
dy- asked him if he, too, had made +
air tune. He assured me earnestly q
he had not boughs or sold sim
i share of stock after his exporter
Gus while in the bank. and believe he Z
i'm. the truth"