The Newberry herald and news. (Newberry, S.C.) 1884-1903, 1890-02-13
HRICE'S START TO WEALTH.
A Telegraph Operators Blunder Made the
Senator-Elect a Fortune.
fChicago Herald.]


4 year or so after Calvin S. Brice
had been made attorney Of Foster:
railroad, the Fosters concluded that
as their road didn't pay, they would
extend it down through Fostoria, theil
own town, to 4 junction with some
trunk line, and then try and sell it out.
They did this, but the construction OF
the road nearly swamped them. They
built it with bonds and stocks secured
{ by their own individual credit, and by
the time they got to Fostoria, the
Foster ship was carrying frightfu!
load. Both stocks and bonds were
listed on the New York Stock EX-
change, and both were nearly worth
less. The stock sold as low as s. per
share.
Matters ran along a few months,
when all at once things began to boom
in northwestern Ohio. Oil was dis
covered, the Hooking Valley coal fields
came into prominence, new and great
resources began to reveal themselves,
and right at the same time railway
values ali over the country took 4
sharp rise in Wall Street. The Ohio
roads were all very strong, and Fosters
deprecated securities went up with the
rest. The owners of the road made 4
calculation that if they could unload
their huge blocks of stock at $l9 they
would get out whole.
The stock had got up from 81 to Sl1,
and though it seemed like a forlorn
hope, they sent Attorney Brice to New
York with a trunkful of securities and
orders to watch the market and feed it
out whenever the upset figures were
reached. The boom lasted over a
month and finally the stock in the
Foster road got up to SO and so, with
Il stiff demand. Brice then telegraphed:
"Stock is up to $50, but I think going
higher. What shall I do?"
Nov here is where the fun comes
in," continued the friend of Mr.. Brice.
Just about this time Charley Foster
was setting up deal in Starke County
to knock out the Democrats in that
district, and Foster had sent General
Gibson up to Canton to arrange the
details. On the very day that Foster
got Brice's telegram from New York
about the stock he also got one from
Gibson, which read: Can do nothing
without you. Better come up day.
Foster who was then in Columbus,
went into the Neil house to reply to
dispatches. TO Brice he wrote: Sell
'em all out quick as you can.' To Glib
son he wrote: DO nothing more till I
come
"Now, the amiable lady operator at
the Neil house, she is not here now,
for she afterward got $1,000 for her
blunder-got these messages mixed.
Gen. Gibson was flabbergasted to get a
message instructing him to sell out
anybody or anything, and wonld not
reply'to the message, but started for
home, muttering that if Charley Foster
wanted any dirty work done he could
do it himself. Brice, in New York, who
got the message, "Do nothing more
till I come of course sat down and
waited. Meanwhile the Wall Street
movement increased in Importance,
and the whole market seemed on the
rampage.
1.-The stock that Brice was watching
and had a trunkful to throw on the
market kept on climbing. Brice heard
no more of Foster, and the latter natu-
rally supposed Brice was obeying
orders and selling. He was doing moth
ing of the kind; he was waiting for
Foster to come.
"Matters ran along fora week or ten
days, and the Foster stocks were
quoted at 81. Brice then telegraphcd:
''Think it is time to let go. Are you
coming on?' TO say that Foster was
puzzled and astonished doesn't express
it. Then followed telegraphic cores
pondence which explained everything,
and Brice began to unload. The deal
was so strong, though, and the boom
had been so admirably worked, that he
sold nearly three-fourths of the capital
stock Of the road at from S37 to $45. 1t
was great piece of financiering. Not
only did the Fosters clear themselves,
but they netted something like 81, 9OO,-
600 besides. And that deal was worked
by their young S1,0DO-a-year attorney,
Col. Brice.
"And what did they do for the
young tinancier:.' was asked.
"That isanother thing that has never
been published, but it was very hand
some. Charley Foster went and bought
$500, 600 in I! per cent. bonds, had them
registered in the name of Mrs. Calvin
$. Brice and sent them to the lady, with
his compliments. But Brice was spoiled
then for the law. He liked finance, he
liked railroading he felt he was in.
tended for great enterprises. But he wa;
hampered; he had no money. His
fortune, or rather his wife's, was of nc
avail to help him in his ambition:
scheme.
"One day he said to Mrs. Bricc: My
dear. $50O,0O0 the way we have is
about as gaod as five cents. Let us sell
those bonds and let ME do something
with the money! Mrs. Brice made :
! frn,,,,JnnS l-inl- AIr pr;,n r.