The morning news. [volume] (Savannah, Ga.) 1887-1900, 1891-09-26

shica, after = careful investigation. re-
fused % find 81 lndics1snrs and Parker was
discharged
Thsa Parker sasd Deacon White 10 the
supreme court Calming 81. 900 damages.
he charged tbe. altar swearing o1s = war
ran. for bis srres. o. Oct. ls, White 40
conp9niei an officer and pointed Parker
cut 70 him az tie corner Of Wall street and
BroedEsy. He was then arrested without
rotles and without an opportunity 20 mAzs
81 exDl uation- At that time Parker a.
leges that Mr.. White was worth st least
81, GO. coo.
Since h entered upon business life il
New Y0rk, NJ. White has made bis hone
in Brooklyn, where Re has an elegant resi-
oencs at 2l0 Columbia bights, one Of the
most fsshiooab.s quarters IL toe city.
While in tbs ives: q. was always an sd-
mirer Of the LATE Henry Ward Beecher, and
naturally drIfted 70 the great divine's
church On taking up his residence IN Brook
lyD.
Ar. White and Nr. Bsecher became init
mate. and Ar. White has in consequence
been a trustee il Plymouth church society
for the last twenty years, and for some time
be has bsen its treasurer.
Since Mr.. Beechers death his interest in
the church bas not declined, aud not long
ago be vas one Of several leading members
20 offer $25, 600 for new lecture room and
Sunday school building.
In spite Of his business cares Mr.. White
has been q hard student and has one of the
dnest telescopes AID ooservatories in the
country. He is an astronomer Of no mean
ability. ard was elected president OF the
American Astronomical Society in 1885.
He is connec.ed with several leading
social and caar!tsbs Institutions in Brock
Ign, 70 the support Of which be contributed
generously.
In politics Mr.. White is a republican,
contributing both time and money toward
the support Of bis party. de supported
Blaine in 1884, making many stirring cam
paign speeches.
III 1855 he was sent 70 congress from the
Third district 70 succeed Darwin r. James.
de served upon important committees and
proved his efficiency in many ways, but ne
declined another term, and in 1888 Mr.
Wallace succeeded him.
There vas only one expression Of opinion
in Wall street today in regard 20 the
failure, ard tina. was II deep regret. Mr.
Whites history in Wall street for the last
quarter of e century is an absolutely clean
one.
He is regarded as q man of grea. busi-
ness ability, and the last person in the world
TO take advantage Of a fallen foe HIS
friends Ia Wall street are TO be found among
those to whom fortune has not been kind.
DIR. W bite was elec;ed member of the
New York Stock Exchange Ia 1862 AID he
at once began u take a prominent part in
the transactions Of that body. From the
first he displayed an sudacity in his ouera-
tio3s which startled the slos going fnau-
clers Of that dRy. Bot other men came,
and Mr., " bite changed his methods.
The deacon had Il firm belief il the
future Of this country aud he became q
ia npant bull. He bought anything and
everything
THAT WAS AMERICAN,
whether it was RAILROAD shares, breadstuffs
or tie water works bonds Of some insignif-
cant and, which sonnet mes proved insolvent,
western county.
He was known as the "Great American
Bull" and no stock ever. in his opinion,
went high enough to warrant him selling
out his interest
He was tremendous Spectator, and was
| easier to approach than any other man Of
means and measures on the street.
Some eight or ten years ago Mr.. White,
| 10 looking over the list of active stocks on
the New York Stock Exchange, concluded
that the Delaware, Lackawauua aud West
ern Rsilroad Company offered unexcep-
tional advantages for the display of his
| genius. The capital stock of the company
was small, only $40, 0J0, 900 and about half
was tied up in estates in progress of liquida-
ton and could not be touched.
Mr.. W bite took hold of the stock aud
made it one of the favorite speculative
spacalties on the list for traders TO deal in.
It's fluctuations became 50 erratic that it
was referred to by the habitues Of the street
as ''old dynamite.p It's course was seldom
il ever influenced by the rest of tho market,
| but Mr.. White or his friends were ALWAYS
on the winning side.
The story is told of friend or follower
OF the deacon who bought Lackawanna on
Mr. Whites advice, "merely for a flyer"
TO buy some Christmas presents with his
! profits. The next day Lackawanna dropped
| 10 points and the gentleman lost 81 900. He
mentioned the affair to Mr.. White some
months afterward and the deacon immedi-
ately handed him check for the amount OF
his loss accompanied with the remark:
"Iguess that wasn't the day 10 buy; you
! should have sold"
Mr.. White, for number Of years, did
large business in puts" and calls" as
were his favorite5 with SPECTATORS who
wished to limit their losses TO certain fig
ure.
Mr.. Whites method was TO buy large
blocks Of Lackawanna and other stocks and
| issue calls against them at a figure which
! would net him good profit. If the price
reached that figure he was called upon to
deliver the shares. II it did not, he Kept
them in his stock box or made soma other,
disposition of them. His ''puts" were Issued
on the same principle, that is, IL ne wa
short Of the market he would, for a consid-
GRAFTON, allow another operator TO deliver
him the shares at figure that would prove
advantageous to both.