The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1891-05-28
made, and don't risk the mon

you have made, and don risk the mon
ey again"
But Albert Grafton had had taste Of
speculation. and the fatal fascination
was upon him.
u must make another venture. Al
icc," he said. II don't deny there's
some risk, but want TO make little
more.''
"You can't expect to be lucky every
time"
1T wasn't luck. used my best judy
ment in the investment. and it turned
out WELL
lie began, despite his wife's rclnon-
strances, to seek out another chance
for speculation. lie was shown the
prospectus of a petroleum company.
which was represented rs 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 well. For that
purpose 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.
lie paid over eighteen hundred dollars,
and received in return certificate of
one hundred and eighty shares, which
he showed with great satisfaction to
his wife.
THE shares. it is thought, will go
up to twenty dollars in month";" he
said.
But unfortunately they did not.
They remained at par only week, and
then declined to nine. Somewhat un-
easy, Albert went to the secretary of
the company for an explanation. He
was assured by that gentleman that it
was all right; that the decline was ow-
Ing to the efforts of large operator
who wished to buy in cheap, and profit
by the subsequent advance.
II 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 five hundred
dollars?" he exclaimed. Il am not such
fool"
but You may have to lose more"
mo, the officers say it 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.
ssArl 1oca h,,nIrolD M 7 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 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 stock?'
he asked Champion.
II am out of it, was the reply.
''Out of it. When?'
II sold out at four-I have lost conf
dence in it."
In panic Albert went to his broker
and directed a pcremptory sale. The
next day he sold out, realizing two
dollars per share, instead of the orig
inal ten. making three hundred and
sixty dollars. lie hardly knew whether
to be glad or sorry when he learned
that the stock was no longer his. But
his wife heartily reioiced.
AT least" she said, ''you have saved
something from the wreck, and you
have gained experience. Now. let us
put the money back into the savings
! bank
Albert made no opposition. He felt
too much mortified and discouraged at
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 a
market value. The last quotations were
ten cents a share, and it would not COM
mand that now.
Albert Grafton's lesson was severe
one, but it will conduce to his perma-
nent good. He is young yet, and with
industry and frugality may earn .
competence. For one speculator who
makes fortune there arc ten who fc--
Slow and sure is very apt to win the
racc.-Iioratio Algcr, Jr., in Yankee
Blade