Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1894-09-23


Messrs. r. s. Christian, Joseph Waller
stein, and c. W. Saunders expect to form
posts" In a number OF cities In virginia
In the near future.
An Era Of Money Making.
1t Is safe to say that We are now on the
eve Of great speculation in stocks, bonds,
and grain-if that era has not already
begun-and 1t is pity that any one with
a desire to speculate should lack the In
formation necessary to do so with IN
telIigence. and. therefore, with success
1t Is well to know where 10 go for both
inform alton and opportunity, and 1t
would not be difficult to direct inquirers
TO hundreds Of places at any one of which
they would be treated with fairness and
consideration. But to the general public
there can be no better advice than to
obtain a copy OF the Manual and Guide
to Investors" issued by the well-known
bankers. Haight & Freese, 81 Broadway.
New York. This manual will be sent free
to all who apply for ii, and they will
find that 1t contains. in terms so plain
that any one can understand the
meaning information and explanations
which make Wall street as clear to the
vision rs hillside meadow in the month
of May. Its operations are all cleared
up and the housewife, after studying this
book little while. can sit in her kitchen
porch and discuss stop-orders, short sales,
stradd,es, puts. and calls with the clear
ness Of a veteran sojourner on the pave
ments OF New street. In addition to this
special information. the manual will IN
form reader that Messrs. Haight e
Freese will execute discretionary orders,
and give to clients the benefit of their
twenty years OF successful experience.
AS these bankers will execute an order
to buy or sell as small as ten shares or
stock at a time. a client can send as low
as $50 as margin, and have filled an order
at the discretion of the house. But for
those who know exactly what they want
to do. the firm Will also act, and execute
orders on q margin OF from three 10 five
per cent. for from ten shares up. They
also deal IN heat, pork. and other food
products, and in cotton, under similar
conditions. Customers out of town Will
learn from the manual that they can
send telegraph messages ordering pur-
chascs or sales without expense TO them
selves. This feature OF the business Of
the benkng-frm can be made of great
advantage to those living away from the
city. Another feature is worthy of COM
ment. According to the old method OF
transactins stock-speculations orders for
less than 100 shares were not filled, and
the brokers required Il margin Of 10 per
cent. Under such circumstances a person
with less than sl0o0 dollars % venture
was kept out of the market. Now IL is
we'll known that very frequently the judy
ment OF the comparatively poor man Is
as good as that of tho millionaire. But
IL he had not so large a sum to venture
as that just mentioned his judgment was
OF no use to him, and went to waste.
Through these bankers such man can
operate according TO his means, and have
the satisfaction Of proving his judgment
good 1t Is well to know these things, and,
therefore, the public attention Is called
to tfem.
In the manual there is one chapter.
short Rules for Traders" which should
he pasted in the hat Of every OPERATOR
and ccnned over and over again till the
rules be learned By heart. Here are some
OF the rules:
After extreme weakness buy stocks.
Let profits run; limit all losses.
''Begin TO buy when prices are dull and
weak.
Learn to take loss quickly"
But there is not space to quote ex-
tensiyely from these admirable rules,
which are the neatlyformulated express
sion OF the experience of firm of bank
ers active in this business for more than
twenty years, and with clientele larger,
perhaps. than that OF any other similar
house in New York
Mr.. /. NJ. Freese, of the firm Of Haight
Freese, in a recent interview. said:
There are many stocks and bonds
quoted now at panic prices, at from s.
n x10 SfOD cha p,piah 40 hn,ubr
judiciously by the shrewd investor, will
net their owner thousands OF dollars In
profits.
Take Missouri. Kansas, and Texas
common and preferred for example; also
the second bonds. The common stocks
are selling for about sl4 for 500; the pre-
ferred, about So for 500; the second
bonds, upon which per cent. is obligatory
after August. 1895, and which sell at $40
for Sl0oO. These are gilt-edged for the
Irtes. on a margin OF per cent one
hundred shares, representing $1,000 par
value Of the stocks. can be bought for
500. They cannot fall, IL at all, but very
little below present prices in any event.
while, with the very first blush Of bust
ness recovery they will rapidly advance,
and every dollar OF advance clears 500
profit 10 the purchaser Of each hundred
shares.
''Thc same holds good with Atchison
securities, Texas Pacific, Richmond Ter
minal. Reading. Union Pacific. and
Northern Pacific. Five hundred shares OF
these stocks can now be bought for the
money formerly required TO buy one hun
dIed shareg
Values OF American securities are
based on the prosperity OF the country.
Nothing is constant but change. There
are bound to be good times after bad
times, the same as bad times follow good.
Tile time to buy is when prices are low;
t. sell when times are good and prices
high. Rothschid's famous reply as to why
he was so successful is remembered: L
buy cheap and sell dear
III takes courage. perhaps, to buy when
the storm has just passed, but the re-
wards Of this life so to those who COM
bne caution and courage. After the panic
Of 1873, after the railway riots at Pitts
burg IN 1871. after the disturbances OF
1884. relied on the strength of our in
stitutons. American enterprise, and
natural resources. My reliance has never
been misplaced. Repeated experiences
and the krcwldge that comes with a
third Of o century's acquaintance with
American finance tell me Enthusiastically
thar now Is the time to make judicious
purchase of securities. either on margin
or outright, to lay away for the coming
advance"
These views of Mr.. Freese are REIN
forced in other authoritative quarters.
They are especially valuable at this time
as con ing from Il man whose skill in
such matters has yielded him and his firm
great success. He pointed out among
many factors in the situation the tre-
heI dous balance Of trade in our favor;
the splendid crops now reaching maturity;
tn, al uEdant currency awaiting the re-
vival of business, and the potent fact
that the people are more nearly out or
debt and out of supplies than ever be-
fore. Factories will soon be running at
full speed. the hum of a busy nation OF
seventy millions, he predicts. will soon
be heard throughout the land, and. with
labor and capital both fully employed,
another great step win be taken toward
the development OF the country. and
prosperity, with advancing prices, will be
seen on every hand.