The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1897-06-18
RICHES ONE STROKE
Wealth Gained by Information
From Congress.
LUCKY SPECULATIONS IN WHISKY.
Speaker Reeds First Important Lawsuit,
How He Won His Case--The American
Terror Abroad What Strange Things
Occur Across the Ocean.

Terror Abroad What Strange Things
Occur Across the Ocean.
WASHINGTON, June IL Special. i
When the Republican caucus agreed
upon new sugar schedule, the price of
sugar stocks had sudden rise in the mar
kct, but we have yet 10 hear of any sona-
tors or other persons in Washington max
ing any money ON that advance OF late
years the amassing of fortunes 10y lucky
strokes upon information gained in con-
gress, or prospective action of the govern
ment, appears to be less frequent than it
was in the old days. Quite number of
the rich men of 80 years ago could trace
their fortunes directly to fortunate specu-
lation of this sort. For instance, Horace
White the famous editor, was at the be-
ginning of the war newspaper CORE
spondent here. He obtained advance in
formation as TO the levying of big inter-
nal revenue tax upon whisky, and inter-
esting number of his friends in the bust
ness made himself a rich man at single
stroke. They bought large quantities of
whisky and held 1t for the advance which
was sure to follow as soon as the new tax
became known to the public.
A Whisky Speculation.
Among the men interested in that deal
was ;. M. Nickerson, n partner of the
present secretary of the treasury, Lyman
j. Gage. in the banking business mt Chi
cago. Mr.. Nickerson made large sum
of money in the whisky speculation. He
( is now the successor of Mr.. Gage as presi-
dent of the First National bank of Chi
cago, a concern which enjoys larger de-
I posits than any other bank in America.
Another man who made money in that deal
was Crosby, who organized the sensational
lottery which bore his name some 80
years ago. He gave MS his grand prize the
Crosby Opera House in Chicago
l see that ex-Congressman Sorg of Ohio
Is announced as candidate for United
States senator against Mark Hanna. Mr..
Sorg is another man who made money by
lucky investment in property soon to be
affected by the government tax In the
early days of the war SOrg was only u strip
ling. He had been apprentic,da a. mold
er, but he finally found IL jon in tobacco
factory. A young friend of his was offered
place as foreman of II tobacco factory, and
he took Sorg with him. Congress had
passed "a new tariff BILL heavily increasing
the tax upon tobacco. This factory was
opened for the special purpose of making
up large quantity of tobacco before the
new rates went into effect. Sorgs friend,
the foreman, was offered share of the
profits if he would turn out certain guam
tity before the new law took effect. So he
and young Sorg kept the shop running day
and night. They got SO, 900 for their share
and with this embarked in the tobacco
business on their own account. Mr. Sorg
owes his present great fortune, estimated
at $40, 900, 900. TO that lucky incident.
Speaker Reeds First Case.
Speaker Reed likes to tell his friends Of
the first important lawsuit he had to try.
1t was libel case. A Maine newspaper
editor had charged that certain politician
was "the biggest liar in the state and
the aggrieved politician had promptly
brought action. Reed was employed to de-
fend the editor. Being his first important
case, he was naturally anxious to win it as
"A starter for his professional career. His
friends advised him to let it alone, as, they
said, he was sure to meet with defeat. But
young Reed thought differently and went
at 1t in way quite characteristic of him.
He admitted, however, that IL might be
difficult thing TO prove any one man to be
the biggest liar in state which had pro-
duced so many liars. He also saw the
force of the argument that the more effort
he made to prove the complainant the big
gest liar in the state the greater would be
the damages if he should just fall short.
But the future speaker concluded to take
his chances in court, and he stuck by his
client
In the trial he put upon the stand
large number of witnesses who testified to
the extraordinary accomplishments of the
plaintiff in tho lying line. Then young
Reed addressed the jury. He reviewed the
testimony in a careful way, and then
asked the jury if they would not agree
with him that the plaintiff had been
shown to be as big IA liar as any self re-
specting state ought TO have within its
borders.
"The onus of showing that there is in
the state of Maine bigger liar than this
man." said Mr.. Reed, els upon the plain
tiff"
This caught the jury, and Reed won his
case.
The American Fool.
One of the diplomats told me funny
story about the American traveller who
goes into a capital in Europe and, calling
at the American legation, demands every
thing in sight. This sort of traveller from
the States is the terror of every man who
lives abroad as n representative of the
American people. He is quite numerous.
He imagines that because he is an Ameri-
can the American minister or consul must
order out his carriage, take him around
town, ask him to dine, take him to the
opera, present him at court, etc. This
diplomat was charge affaires during the
absence of the minister. An American
journalist came along with his wife and
daughter. They were exceedingly anx-
ious to be presented at court, and because
the charge found 1t impossible to secure
audience with the queen they denounced
him as a failure, an ignoramus, a disgrace
to his country and other nice things.
The joke of it was that the editor came
back to the United States and wrote the
matter up in his paper. But he had for
gotten the name of the charge d'affaires
who had offended him, and looked In the
diplomatic list published by the state de-
90. To- h< haA