Dodge City times., 1890-04-17
A BROKERS' STORY.


Exchange Broker and = 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. 7. Times. an interest
ing episode in his speculative career.
Some fifty years ago." he said.
''when l had plenty of money and had
about concluded that the man who
allowed himself to go broke was an
idiot, a young man was shown into nv
private Office. had never seen him
before. He looked ill and worried.
"'Mr. Blank he said, you don't
know me-
":No.' 1 replied. I have not that
pleasure
"'Well, he went on. I know you,
and l have heard that you are a gener-
GUS man. l 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 I am looked upon by
its officers as a trusted and valuable
employe. Some time ago. on what l
believed to be good tip. I bought 100
shares of stock-with my own money,
of course. l made a few hundred dol
lars. The next time that l got a tip
from the same source l bought 200
shares, and the market went against
me. Iput up all my money for mar
gins, and it still went against me- Then
took some of the banks funds and
then little more. To-day l am $500
short in my accounts. If the amount
is not replaced in twenty-four hours
shall be ruined man. Perhaps / will
be arrested. l know of no way to raise
it, and have come to you to ask you
if you will let me have it. l don't
know when l can repay it. but will
repay it some time
Il was somewhat astonished," said
the broker. Il said to him: You don't
lack assurance, anyway
81 only lack $780, was his answer.
''Well, I gave him the money, though
l thought l was fool for doing it. He
thanked me, without much effusion,
and went away. In few days. being
a very busy man, the incident slipped
from my mind. / think it was about
three years later that l went cold, fiat
broke. My seat on the exchange had
to so, and was completely cleaned
out. l had to get trusted for shines.
I didn't know which way to turn. One
day. while walking down Broadway, l
met my young friend. He looked bet
ter than when saw him before.
"'How do you do, Mr.. Blank?' he
exclaimed, and he nearly broke my
hand with the grip he gave me. I've
been hunting all over for you,' he said.
i heard that you had been unfortun-
ate.'
Il told him that was high private
in the regiment of the busted.
'''I think can be of some service to
you,' he told me. 1 left the Snch-and-
Such bank some months ago to become
the confidential clerk in the office of
So-and-So, the lawyers. l have here
an agreement which has just been
signed. do not think that ANYBODY
but the principals. the lawyers, and my
self know that it exists
He handed me paper. 1 read it
and returned it to him, telling him that
he might consider the obligation can
celed. The document practically COM
pleted the sale by Jay Gould to the
Western Union Telegraph company,
the strongest rival it ever had. The
young man assured me that the trans
action was not to be made public for
some days. That was sufficient for
me. went at once to a broker friend,
told him what l knew, and induced him
to buy me 100 shares of Western
Union. The stock began to advance at
once. I put every dollar of my profits
into more stock. Western Union rose
steadily about 80 points, and when the
consolidation was announced and the
price was highest sold out. l made
&275, 900. which was sufficient to pay
my debts and leave me 500, 600 to the
good. have no idea how much my
broker friend made. 1 met my
lawyers clerk afterward and jokingly
asked him if he, too, had made for
tune. He assured me earnestly that
he had not bought or sold single
share of stock after his experience
while in the bank, and believe he told
the truth"