New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-02-04

IN to have his orders executed on the Exchange.
4 member q the Exchange who does not
clear his own stocks may have his orders exc
cute1 for "three and a shilling" or in other
words So - per 100 shares, which makes the
commission one-thirty-second Of one per cent
A. one-eighth. the commission on ooUuo shares
IS So 90 At thirty-second the commission
IS 81 5G2 30 The difference is Si.G>i ~. The
great advantage TO a Spectator in belonging to
the Exchange is made apparent 10y these fig
ures IN periods II great speculative activity
Mr. Cammack often dealt in 10000 shares OF
stock in a day. Ny ClmmaCk could well afford
10 have retained his seat, which carried with II
an insurance Of $4,000 The nam Of the pur-
chaser Of the seat will be posted for two
weeks a, the end Of which time. on February
i il will he acted upon by the Committee on
Admissions
HIS RECORD IN WALL STREET
There have been men identified with Wall
street-Commodore Vanderbilt and Jay Gould
for instance-who have made more in one way
or another in stocks than Mr.. Cammack but prob
p5lv no one in Wall Street has ever made so much
money in purely speculative operations ana re-
tanned f. Commodore Vanderbilt and MT
Could made their great wealth chiefly through
the issues Of stocks Of railroads which they
controlled Mr.. Cammack was never in con-
troll of 4 railroad. During his connection with
Wall Street he never was anything nut
Spectator. Strangely enough. nearly all OF MS
profits We're secured on the short side of the
stock market For more than n quarter OF
osntury he has been the recognized bear leader
in lie street.
Mr. Cammack first became prominent in Wall
Street when he formed a copartnership with the
la,e Charles j. Osborn, under the firm name OF
Osborn & Cammack. to act as stock brokers
in 1870 The firm very successful but MI
Cammack left it in FIVE years and never AFTER
ward engaged in the brokerage business. he
was thenceforth a Spectator and nothing else
IL was often concerned in deals with CoInino-
dore Vanderbilt William II. Vanderbilt and jay
Gould. He ana William II. Vanderbilt were close
friends. one Of the few occasions on WhlCn IN ne
was bull on stocks was in the famous west
Shore deal in 1854 He was short Of stocks IN
The great Grant & Ward smash in May OF that
year and he looked forward 70 long PERIOD OF
DEPRESSION In June William II. Vanderbilt Sc
cured control Of the West Shore Railroad. which
paralIrled the New-York Central ana hudson
River Railroad the chief vanderbilt road, ana
had been |asne fierce ana c9st,I Warlait Oh
the Ncw-York Central Nj Vanderbilt persuaded
Air Cammack that the acquisition OF the West
Shore completely changed the speculative SItu-
aIln The late Charles +. WOerishOucr ana
Henry y Smith were at the time working with
Mr Cammac& on the short side OF the market.
Nr Woerishoffer turned over to the long side
with Mr. Cammack. Mr. Smith remained on the
Short side Nj Cammack and MI W0erish'fer
made great deal II money. MI SNllln lost
100000 and carried down William Heath &
Co, who acted as his brokers'
BROUGHT ABOUT COLLAPSE IN STOCK
II was Mr. Cammack. Mr.. Woershoffer and
Mr Smith who brought about, in 1883 the col
LAPSE in Northern Pacific Railroad stock, while
the property was under the administration OF
Henry Willard While Mr.. Willard was driving
the golden spike which connected the Eastern
AID Western divisions. in the presence oI ,GilI-
lany Of extensive investors from Germany, they
were planning for the downfall OF the price OF
the roads securities. They made a large
sum IN this operation. since Mir. CammacK MAJ
been active in the street he has been the leading
tiirit H. all bear movements of consequence.
The understanding is that Mr. Cammack re-
tired from Wall Street by the desire OF ms "lte'
who thought that he had reached a time III
life when ne should give UP business altogether.
He is seventy-one years old. but there are Jew
hen o. fifty who as well preserved. MT.
CamMaci married some eleven years ago.
his wife having been a Miss liidreth, OF WASH
Mstor He has two children both boys, one ten
ana the other seven years Oh On ms mafIldEe'
i is said ne presented TO his wife securities
Hmth H.OG0o0o He has since placed consider,
et.e real estate in her name lie accumulated
every dollar If his wealth himself -
Nr Cammack was born at Hopkinsvile Ky
MS parents were comparatively poor. When
3I'unS man he obtained place as clerk WIN >.
!, whitney Co., who were theh the largest
snphrokers In Ncv-Or!cans. He displayed 50
much ability that he was later taken in as
partner In the firm. In the early part or the war
Syh through The blockade. which was profitable
-, risky business In 1869 he went TO London,
,dIc~Ie No engaged In speculation IN cotton. In
.o'p ne embarked in the wholesale liquor Dusi-
sess In NeWYork with !. W. George. under the
IN name Of J. W. George q CO. He remained
- lhs firm only TWO years lie then resumed
,gecIulation In cotton in which he continued un-
81 ~ ne and Charles j. Osborn formed a copartner-
cp as stockholders For the last few years MI
o@.'U6ck has made his headquarters in the
way ~ ''t"''' I" wa ''' w
W
,. aL Cammack lives at 40. 4G West Fifty
eh'h-st He has country place az Tuxedo
"iAkSS BLOCK ~ S1LT LAKE BJRNED.
p 49, Lake Utah, Feb 3-The scott-Aue:' ZACH
a., 4"s one Of the largest business blocks IN the !
d,. was Destroyed by FIRE lite last night. The !
VIII aggregate at least S'o0oco. and the in !
p.d" Is only $1,000 The low er floor was occu- |
a.. j ~ Scott Co. wholesale hardware deal |
On 'r , Park jewellers ana Galloway Hoock |
pos,on s.sasswere. The fire caused by The rH- |
VI d lamp on the top floor. used for sleeping
shaft Tl II made It's way down the elevator |
BY or .he second and third stories occupied |
es ana nothing saved