The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1890-08-25

| hnanoial facts assiduously, and take mod
efate profits that are certain rather than
/ wait for bigger ones in the misty and unce r
tam future. then there is some hope for him
IN wall steeet. This, in substance, is the
| advice of Hon. s. V. White, who is supposed
to have fortune of $4,O0o, 600 or IS, coo, COO,
ana who twenty-five or thirty years ago was
reporter on st. Louis news
paper. Do the same as you would
d IN ' business rs Study the subject;
look for "shylock" returns, and don't
mind how much other operators in stocks
laugh at you for taking moderate profits.
The law of fuctuation in markets is pre-
olsely the same AZ that which governs the
waves Of the sea; the strong tide below may
be on the ebb or the flood, but the waves on
the surface eeaselessly come and go-they
quotations. It may be bull market Just
as the tide may be rising, but the quota
lions and the waves constantly react-they
40 not always dash forward. Take moder-
ate profits, keep cool and wait for the next
REACTION 1s9tao before buying again. Men like
with all their wealth, are often little more
than "scalpers' on large scale. Their
transactions are extensive, but thew
Will frequently take fractional profits.
II they find they are on the wrong track
they quickly turn and 90 the other way.
~ ~ VIZ eAAollSA operators WHO are AWAY "a
inclined to fight the market. To such it
may be said: Don't be obstinate; don't
hesitate to change from the bull to the bear
side II the drift of events plainly warrants
your doing SO. Don't fight manifest des-
tiny and play the part Of old Mrs. Parting
ton trying to sweep back the Atlantic ocean.
henry Clews says: Buy on the slumps
and sell on the jumps. Take moderate
profits as rule; don't try to make all the
money yourself. Study the situation care
fully and don't trade in wild oats. Sele.t
eood stocks. Avoid stocks about which
nothing is Known
Another broker said: "Some operators
mat In they flourish wonderfully for time.
They get knocked on the head, however,
sooner or later. They lose their heads; they
think they know it all. Whom the gods
would destroy they first make mad One
m'rilsstep. perhaps, and they lose everything.
but they die young. Look at Charles Os-
born, worth $5,Oo,o00 or $6,OO0.OOO. ons
OF the few men whom even Jay Gould could
not humbug. He died when he should have
been III his prime. Look at Charlie Johns,
MO VINO used to be an Office boy for Henry
Ciews, and made million on the floor Of
the stock exchange and left it young man
70 60 to retreat. Look at Baron Woeris-
noner, who married the daughter of million
are Oswald Ottendorfer, proprietor of the
Aeltung, and died at 40 year of ace
worth S1,OOo.OOO. The careers of the biggest
OF these men sound like passages from
nante s Inferno You can be sure of one
thine.that the average Wall street epecu-
!ator, however smart or successful for a
time, Will. If he stays in the game long
enough, so broke. One reason is that
STOCK exchange has on its list and fathers a
eisgraceful lot of rubbish. As in Coler-
ldge's Ancient Mariner it is water, water,
everywhere"
stock speculation is SO much a matte of
chance that some will not buy if they see a
cross-eyed girl or q black cat on the way
Gown to the office. If they can manage to
touch Lunch- back it il a big thing in
their favor. Vamstas, vamtatum! It il all
funeh and Judy show. Aud yet it has in
some respects deep significance. The inn
mense importance of modern stocks and
ponds Is illustrated by the celebrated Eng
!ish wit, Sidney Smith. since whose time
immense strides have bean made in the
expansion of fiscal systems. IF Cesar, "
ne says, "weSe to appear upon earth West
enhaiis tstock e1change) list would b
more important than his Commentaries;
kothschild would open and shut the temple
probably command the Tenth Legion and
the soldiers would march TO battle with
loud cries Of Scrip and Omnium reduced.
Consols and Cesar"
Finally distinguishing characteristic Of
the regular or professional Wall street spec
ulator il q gamblers sang froid. He takes
losses and gains with equal composure. In
speculation he echoes the famous Larry
Jeromo's sentiment conoeEninG thu whisky;
~ hops for the best but am prepared for
To worst" Rex.