Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-02-19
SPECULATIVE EVILS.
A Professional Mans Views of the
Dangers That Threaten
THE YOUNG MEN WHO SPECULATE.
Effect of the Open Winter Upon COnsump-
tiOn of BreadStuffS.
IMPORTED CIGARS HANDLED BERE.
OFFICE OF PITTsBURG DISPATCH, I
TUESDAY, February Is, 1890.

TUESDAY, February Is 1890.
A professional gentleman of large expert
ence and lucrative practice recently ex-
pressed the opinion that the speculative
spirit was one OF the most disastrous features
of our American business life. Said he, in
substance: Il wish our young men could only
get rid of that notion so prevalent that the
short cuts to fortune are to be depended on as 8
rule. More money is lost than gained by the
attempt to climb up some other way to success
and wealth than the old fashioned way
patient, plodding industry. l have myself ofteu
been dazzled by some brilliant scheme for
money making and permanently invested many
a dollar won in my regular calling. Nine-tenths
of these outside investments have proved q
dead loss.
Mushroom Fortunes DclusiVe.
Experience is a dear teacher; but somehow,
Notwithstanding the high wages this teacher
exacts, we Americans must, as a rule, find it
out for ourselves by taking his lessons 1t
would be worth a small fortune to me if had
never gone into any speculative schemes, and
placed my surplus ncome in something sure
that did not promise a fortune in year or
two's time. 1t is plain enough to me now where
/ missed il. As rule there are no short and
easy ways to fortune as there is no royal road
What American young men need most is to
secure trade or profession, and make the most
of it and Of themselves in it, and leave outside
things which promise fortunes without work
severely and forever alone.
"In an experience of fully 40 years of profes-
sional life have known hundreds of men of
fine opportunities and bright promise to ut
terly fail Of success by reason of their failing to
learn this lesson. Industry, economy and pa
thence are the best cards in a successful bust
ness life, and. above all things, let the Shoe
maker stick to his last
Weather and Flour.
The -four market here gives few signs of ami
nation the past few weeks. While there is no
material drop in prices, jObbers are less firm
in their views. Trade has been disappoint-
meut since the beginning of the year. 1t is
generally accepted that the consumption of
-four this winter has been much below average
by reason of the mild weather. The London
letter in the cuTrentnumber of the Minneapolis
Muller says: 1.-The mild winter in Europe has
killed what little of confidence there was in the
-four trade The midness of the weather has
seemed to reduce consumption, and at the same
time enable supplies to come forward regularly
and in larger quantities than usual. There is
general complaint In London that the con-
sumption demand is so small for the season
while miiers and factors are so well stocked"
In the same letter it is stated that an official
account of stock of wheat on hand at Odessa
January gave it II, $4,000 bushels which was
100000 bushels above the general estimate.
As Odessa is one OF the principal export
points Eor Russian'wheat, the fact that there
is nearly double the estimate is one of the
many straws which show that the winds are
blowing toward weaker markets IN breadstuff
lines. The opportunities for bullish move
ments in bread and provision lines have been
all this winter, like angels visits few and far
between.
At the Custom House.
At Uncle SANS warehouse, this morning, it
was ascertained that goods begin to come in
freely from foreign shores for spring trade.
The rush is expected in a week or two, and all
signs point to an increase over last season.
For the year 1889 there were imported through
the Pittsburg Custom House 9S4 600 cigars,
1000 for the previous year. For the month of
December alone l72, $50 cigars were imported,
which far exceeded any previous month on
record. Not a few of these December cigars
retailed at 81 apiece, and at this price there
was very small margin Of profit for the i'm
porter The great bulk of those imported are
cigars that retail at two for 25 cents. 1t is
estimated that 20 per cent Of the imported
cigars handled here do not come through the
Pittsburg Custom House. If this estimate is
correct the annual sales Of Havana cigars by
our dealers is not far from one and quarter
millions,