Rock Island daily Argus. (Rock Island, Ill.) 1886-1893, 1891-05-13
WISDOM rs COSTLY
Especially When Jay Gould Is
the Teacher.
AN "owER TRUE TALE FROM OHIO

In Which 1t Is Related How Senator
Brice, Governor Campbell, aud Gen.
Thomas Cut Their Financial Eye-Teeth
ina Little Deal in Richmond Terminal
Tho Wizard Lets Go Very Easily, but
1t Is to Get Better Grip-MiIions
Lost.
CINCINNATI, o., May 13-An evening
paper has a story, furnished it, as the
paper asserts, by an ex judge and corpor-
alton attorney, and for the truth of
which it vouches, that is interesting read.
ing in Ohio at least 1t is a tale of big
losses by Senator Brice, Governor Camp.
bell. and Gen. Thomas, and big profits by
Jay Gould The attorney says: sit is
laughable in all but the vital fact that
Campbell, Brice, and Thomas did not
laugh unless a heavy loss of a million or
two Is any cause for hilarity. Campbell
was dragged into the deal by B-ice and
Thomas, and was, in fact, cutting his
brokerage eye-teeth, so to speak. Camp
bell made big money on the English
brewery deal, and along with his political
ambition was anxious to figure among
the Wall street magnates.
A Combine Against Gould.
"Heis nothing if not shrewd, audacious,
but, alasi he fell against Jay Gould. The
financial world had less than a nine days'
wonder at the supposed courage of men
like Campbell, Brice, Thomas, aud Others
who went in with Coils P Huntington to
route Jay Gould from the Richmond Ter.
minal, and shut him out from Pacific
Mail holdings. The wizard of Wall street
and the Stock exchange was as mi Id as a
summer ocean, and let go so easily that at
once the story was telegraphed through
out financial circles that Gould had at
last been worsted.
"Then came marvellous reports of Hunt
lngton's diplomacy and shrewdness. The
Wizard sold out Richmond Terminal at
o. The buyers thought to have it rise,
but it fell gradually until its holders
found 1t one gloomy day at - Then
Campbell and other holders went to
could. They wanted to sell He blandly
told them Richmond Terminal was ali
right; that the fluctuation was only tenn
porary and that they should margin up,
A few days later it fell ten points more.
Again trembling and scared the men
who had boosted of beating Gould went
to him.
''oh, Margin 1t Up" Says Jay.
Oh, margin it Up, he said coolly. 1t
can't fail TO be good stock-a good invest
ment
But not jackscrew, nor even Archi.
medes' lever could margin up Richmoni
Terminal stock when it wa, it was max
ing toboggan-slide descent. Finally it
went down to 23, and the syndicate head
ed by Brice went in supplicatiou to Gould
to sell or do anything for relief.
"'Oh, it will come out all right, he said.
l think it will keep on falling, and think
1t will even go down to g..
This was paIalyzing, and Campbell,
Brice ct al were blue and bilious.
How 1t All Cam Out.
80 have no money G ould said, but /
will trade you Western Union stock at 20
Tor your stock at Is
This was bitter prescri ption, but the
disease was worse than the remedy. so
they took it. A week later there came a
drop in Western Union and a rise in Rich
mond Terminal Brice is said to have lost
over 81, OOO, 900, and Campbell nearly all il
not all he had. He is therefore thinking
OF continuing in politics rather than at
tempt the role of financier against jaw
Con Id