Waterbury evening Democrat. [volume] (Waterbury, Conn.) 1887-1895, 1891-05-26

lily. from u1Jy-Slx III rose 20 Sixty -uFS
in fortnight.
81 have made one hundred and eighty
dollars so far" SAID Albert exultingly.
ssWhat do you think of that?"
sYou had better sell out. and secure
it." said his wife.
sNot I. I viii hold on. and make
more"
1T may go down again"
81 don't believe it."
And it did not go down. The fact
was some strong parties controlled the
stock, who We're adroitly manipulating
1t for a rise. So, quite Independently
of its actual value, 1t rose steadily until
it touched ninety. p f..
At that point Albert was fortunate
twenty shares eighteen hundred dol
lars.
He announced this to his wife with
great satisfaction.
"a clear profit of six hundred and
eighty dollars" he said. "As much as
could lay by in three years-and I've
done it inside of two months. I'd bet
ter have kept it in the savings bank,
hey?"
"TaIe my advice, and put it back
you have made, and don't risk the mon
ey again"
But Albert Grafton had had taste of
speculation, and the fatal fascination
| was upon him.
ice," he said. 81 don't deny there's
some risk, but want to make little
more"
"You can't expect to be lucky every
time"
sit wasn't luck. used my best judg-
ment in the investment, and it turned
out we'll"
He began, despite his wife's remon-
strances, to seek out another chance
for a speculation. He was shown the
prospectus of n petroleum company,
which was represented as wonderful
for the unparalleled yield of the wells
already opened upon it. Capital was
needed to sink an additional number,
which there was every reason to think
would yield equally we'll For that
purpose q limited amount of stock was
offered to the public at the extremely
| low price of ten dollars per share
Albert decided to invest his entire
capital in this promising speculation.
and received in return certificate of
he showed with great satisfaction to
his wife.
1.-THE shares, it is thought, will go
up to twenty dollars in q month";" he
said.
But unfortunately they did not.
They remained at par only q week, and
- hot
| easy, Albert went to the secretary of
the company for an explanation. he
| was assured by that gentleman that 1t
was all right; that the decline was ow-
ing to the efforts of n large operator
who wished to buy in cheap, and profit
by the subsequent advance.
If this was the case the operator was
successful, since another week brought
down the price to seven.
Mrs. Grafton urged her husband to
sell out.
"What, and lose over Eve hundred
dollars?" he exclaimed. 81 am not such
a fool"
"But you may have to lose more"
mo, the officers say 1t is all right
They are now digging wells. AS soon
as they prove successful the stock will
take bound upward"
| Meanwhile the stock sank to five, and
again Alice besought her husband to
sell. "You will get back nine hundred
dollars" she said.
And lose nine hundred? No, will
see it through" he said.
Poor Alice looked on with dismay.
Her heart sank within her every day
when she took up the evening paper,
and noticed a further decline in the
stock in which her husbands all was
invested. She saw that he was too
headstrong to be influenced, and looked
forward sadly to the entire loss of the
money.
The decline continued, until the
stock touched three. Albert began to
feel serious
"What do you think of your stoclr2'
he asked Champion.
81 am out of it," was the reply.
"out of it When2"
81 sold out at four-I have lost conf
dence in it."
In panic Albert went to his broker
and directed o peremptory sale. The
next day he sold out, realizing two
dollars per share, instead of the orig
inal ten, making three hundred ant
sixty dollars. He hardly knew whether
to be glad or sorry when he learned
that the stock was no longer his. But
his wife heartily rejoiced
"Atleast," she said, 'tyou have saved
something from the wreck, and yor
have gained experience. Now, let u.
put the money back into the saving.
bank"
Albert made no opposition. He fell
too much mortified and discouraged a
his losses to wish to engage In any fur
ther enterprise of similar nature.
AS for the petroleum stock, it went
down and down till it ceased to have {
market value. The last quotations were
ten cents share, and it would not com
mand that now.
Albert Grafton's lesson was a severe
one, but 1t villa conduce to his perma
nent good He is young yet, and will
industry and frugality may earn {