Daily inter mountain. [volume] (Butte, Mont.) 1881-1901, 1899-01-23
a STORY OF PACIFIC NAIL.

| western oceans we are beginning al
ready to broaden our trade phylacteries.
Within the memory of our youngest gem
Grafton the shares of this company were
selling at $3.50; today they are on a ire
mendous boom at 500. All Wal street is
talking about it. They haven't been so
high since 1892, when they touched 40$s,
except for q moment in September, 1891;
when they were quoted at 1912. In July,
1898, they We're as low as S12. On Friday
over Il 900 shares were traded in. There's
something in the wind. Stand from UNI
der.
Some 20 or 80 years ago, when Addison
Cammack had picked up Charlie Osborn
and made him a full partner. a prosperous
looking gentleman entered the office of
Uncle Ursa Major and said, without intro
duction: vii you buy me a call on a
million gold?" The affair was adjusted,
and the man became one of Mr.. Cam
mack's customers. He traded in Pacific
Mail and made a lot of money. His COM
missions to Cammack & Osborn amount
ed to over SIC, 600 a year. His name was
| Alden 3. StockWell.
Stockwell was a westerner. He moved
to Cleveland, O., when a young man, and
! went into the coal business. Then he
| drifted eastward, and married a daush-
ter of Elias Howe, inventor of the sewing
machine. His brother married another
daughter, and the two settled down to
heip their fatherin-law manufacture an
nually $50, coo machines and sell them at
$50 apiece. They were doing u $ 1000, 900
business, yet Alden was dissatisfied. He
had q mania for the stock market. and his
hobby was Pacific Mail. When he began to
fly high with Cammack the "old man.
went to the Howe factory and looked over
the firms books to satisfy himself of his
customers standing. He found a credit
Of ove 5000, 900 and returned to New
York much pleased.
Onc day at the Fifth Avenue hotel
Stockwell said: " Mr.. Cammack, the an
nual election Of officers of the Pacific Mail
occurs next month. / shoul like to be
PRESIDENT well, how much do you want
to be PRESIDENT" asked Cam "How
much? I'd rather be president of Pacific
Mail than to be Car of Russia 1T will
cost you Something sroWled the bear.
About how much?' We'll, say, $4,000.
Is it worth that much to your" yes, and
and II give you my check this moment;
we have not q great deal of time to
waste He drew the check and Canlmack
pat 1t in his pocket. That night Ursa
Major went to Charlie Osborn's house,
and, showing the ape said: "Charlie.
get to work tomorrow morning and we'll
make Stocl5well president Of Pacific Mail"
The agreed on a plan of action.
Tae capital stock of Pacific Mail was
$20,C 0 600 or 200, 600 shares at $10O,
Stockwell already was carrying about
10000 shares: he needed 81, 600 more to
nave a controlling interest. AS a starter
employed odd Wallace" q famous broker
who handled Investments, to go on the
iloor OF the exchange, and sell carefully
10000 shares of Pacific Mail "scller sixty"
Wltnout breaking the price. AS soon as
wallace got through Osborn jumped in
ana began OFFERING the ctocly down. AZ,
crowd, anticipating bad news, followed.
SUIT. This was precisely what Osborn
wanted, as it enabled Wallace to buy for
cash the 10000 shares he had just sold sell
Ter sixty. The Wallace order having been
illed, the same operation was repeated,
using Harvey Kennedy to put out the sell
Ter SIXTY stock. The traders were satisfied
by this time that something of much i'm
portance was to occur, and sold right and
left. The trick was played over and over
using different brokers' each time, until
10000 shares of stock had been accumu-
lated for election purposes. Mr.. Cam
mack had the stock transferred, and when
the election was held voted the whole
block for Stockwell, and made him Presi-
dent of the Pacific Mail Steamship com
pany and commodore of the fleet. Tho
cost was about $50, 900.
When StcckWell took hold in earnest
of Pacific Mail he found in the treasury
over S3,G0G,OO0 of government bonds. The
boom of the company seemed to be I'M
ending. The shares ballooned rapidly
until they reached the amazing height Of
$500. With gold selling at 200 and the
stock at $3.50 q share. Pacific Mail paid
annual dividends of 20 per cent. And
StOckwell was happier than Alexander
III. The cup of his ambition was filed to
the brim.
One night, in the autumn of 1866, James
Gordon Bennett and several boon compan-
ions Were dining convivially at Delnon-
ico's, and rich Burgundies caused boastful
chatter about yachts. This, to be brief.
ended in n sweepstakes of 800, 600, to be
raced for between the Henrietta, the Fleet
wing and the Ncsta, the course being from
Sandy Hook to the Needles. The boats
sailed on Dec. II.
Larry Jerome passed Cammack in
Wall street the morning of the contest
and said smilingly: my boy. do Won
want something good? Buy Pacific Mail.
1t is going to 1000" He never dreamed
that Cammack had done the deed for
Stockwell. Il nave put everything I have
in the world in it," he added. II havs
bought 1000 shares at $3.50. and have put
up a margin of $40 a share. I sail today
on the Henrietta with NY friend Bennett,
ana we will win the race" His margins
amounted to $500, 900. He sang good-bv to
the boys in the street and sailed awav.
History records that the Henrietta won
There was a great, grand, gay old Bennett
time in London, after which, taking on
board the editor of the London S~tandard
Bennett and his guests steamed along the
Rivera, pauslng for brief visits at Nice.
Cannes, Monte Carlo, Genoa, etc. FINALLY
Rome was reached, and the standard man
expatiated on the Eternal City's magnif-
cent ruins. He then led them through the
ruined cities of Herculaneum and Pompeii