Birmingham age-herald., 1894-09-22
AN ERA OF MONEY MAKING.

It is we'll to know where to go for both 1 information and opportunity, and it would
 not be difficult to direct inquirers to hun dreds of places at any one of which they would be treated with fairness and consid- eraticn. But to tbe general pubic there can be no better advice than to obtain a copy of the "Manual and Guide to h. vestors,p issued by tho we'll known bank CTS. hslght & Freese, 53 Broadway, New York. This manual will be sent free by all who apply for it. and they will find that it 1 contains, h terms so plain that any on E. l understand the meaning, information and l explanations which make Wall street
 as clear to tne vision as a hillside meadow in the month of May. It's | operations are all cleared up, and the 1 housewife, after studying this book little while, can sit in her kitchen porch and dis. l cuss stop orders, short sales, straddles, | puts and calls, with tue ciearness of yet eran sojourner on the pavements of New street. In addition to this special informn- l tion the manual will inform a reader that Messrs. Haight & Freese will execute dis cretionary 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 of stock at 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 margin of from to per cent for from ten shares up. They also deal in wheat, pork and other food products, and in cot ton, under similar conditions. Customers out of town will learn from the man ual that they can send telegraph mes- sages ordering purchases or sales without expense to themselves. This feature of the business of the banking firm can be made of great advantage to those living away from the city. Another feature is worthy of comment. According to tue old method of transacting stock speculations orders for less than 100 shares were not filed, aud the brokers required margin Of 10 per cent. Under such cir cumstances a person with less than $i000 to venture was kept out of the market. Now 1t Is well known that very frequently the judgment of the comparatively poor man IS as good as that of the millionaire. But if he had not so large sum to venture as that just mentioned his judgment was of no use to him and went to waste. Throu2h these bankers such man can operate ac- cording to his means and have the satis- faction of proving his judgment good. It js well to know these things, and therefore the public attention i5 called to them.
 In the manual there is one chapter. "Short Rules for Traders,o which should be pasted in the hat of every operator; and conned over and over again till the rules be learned by heart. Here are some of the r7-a After extreme weakness bny 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 exten- sively from these ad mirable rules, which are the neatly formulated expression of the experience of firm of bankers active in thls business for more than twenty years, and with a clientele larger, perhaps, than that of any other similar house in New York.
 Mr. I. M. Freese of the firm of Haight & Freese, in recent interview, said:
 tThere are many stocks and bonds quoted now at panic prices, at from S5 to $50 per S100 share, which, if bought judi ciously by the shrewd investor, will net their owner thousands of dollars ill profits.
 ''Take Missouri, Kansas and Texas conn mon and preferred for example,; also the second bonds. The common stocks are selling for about $14 for $100; the preferred about $22 for $100; the second bonds, upon which per cent is obligatory after Au- gust, 1895, and which sell at APO for 5000. These are gilt-edged for the prices. On a ing SIC, ,000 Ear value of the stocks, can be bought for $500. They cannot fail, if at all, but very little below present prices in any event, while with the very first blush of business recovery they will rapidly ad- vance, and every dollar of advance clears S100 profit to the purchaser of each 100 shares.
 "The same holds good with Atchison securities, Texas Pacific, Richmond Ter minal, Reading, Union Pacific and North ern Pacific. Five hundred shares of these stocks can now be bought for the money formerly required to buy 100 shares.
 sValues of American securitiee are based on the prosperity of the country. Moth. ing is constant but change. There are bound to be good times after bad times. the same as bad times follow good. The time to buy is when prices are low; to eell when times are good and prices high. D<Al. y- 4nw kA .r-lx lo was so successful is remembered: I buy cheap and sell dear.'
 "lt takes courage, perhaps, to buy when tho storm has just passed, but the rewards of this life go to those who combine cau- tion and courage. After the panic of 1873, after the railway riots at Pittsburg in 1877, after the disturbances of 1884, I relied on the strength of our institutions, American enterprise and natural resources. My re. liance has never been misplaced. Repeated experiences and the Knowledge that comes with the third of 8 century's acquaintance with American finance tell me unmistaka- ply that now is the time to make @ judi cious purchase of securities, either on mar gin or outright, to lay away for the coming advance.''
 These views of Mr. Freese are re-enforced in other authoritative quarters. They are especially valuable at this time as coming from man whose skill in such matters has yielded him and his firm great success. He pointed out among many factors in the situation the tremendous balance of trade in our favor; the splendid crops now reach. ing maturity; the abundant currency awaiting the revival of business, and the potent fact that the people are more nearly out of debt and out of supplies than ever before. Factories will soon be running at full speed, the hum of a busy nation of 70, ,00O, ,000, he predicts, will soon be heard throughout the land, and with labor and capital both fully employed, another great step will be taken toward the development of the country, and prosperity with ad-
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