Evening star. [volume] (Washington, D.C.) 1854-1972, 1899-06-17
go back to Wall street and speculate until
they lose their present fortunes.
Made N EOrtuHe.

r
| they lose their present fortunes
Made fortune.
One man who has retired is E. B. Talcott,
| who was one of the best-known brokers in
| the street. He had announced frequently
| to his friends that, he would leave the street
as soon as he WIS worth million. The
| friends shook their heads and smiled. Tai
colt might become millionaire, they said,
but he would fever leave Wall street
When the boom struck the financial market
| last winter, however Mr. Ta,cott's dream
was realized. He was worth a million, and
soon after the 1sft of January he closed out
his interests, saia goodbye to his friends
was made mainly from the profits of his
brokerage business, and there are many
others who have become possessed of $500
ooo or S5oo,oo0 as result Of the season
prosperity. Altogether the toll levied by
Wall street on the immense volume of
business transacted during the past four
months cannot fall short of $25,000O0O.
While the rise in values and the vast
amount of business transacted have been
two causes of the uneXampled prosperity
IN the money world, there is a third source
of income which has surpassed both of
them. That Is the business of promoting,
OF forming trusts and combinations, or
floating new companies. There never has
been season like the one just closing for
the business of promoting. Everything
from bicycle to mineral paint. and from
tertlllzers to chewing gum, has been put
INTO combinations. Within the past year
four billions in new securities have been
Heated on the market and though large
share of these stocks remain locked up in
the safes of the companies, an immense
amount has been realized from the sales
that have been made. Probably billion
dollars has been paid by investors for
shares in these new companies, and of this
no less than one-fourth has gone to the
men who engineered the combinations and
Hoated the securities.
The Promoters Rich Harvest.
Promoting pays the biggest profits of any
business the professional financiers have
been able to devise. The past master in
the art is Anthony N. Brady, the new lead
er of the street, who has had hand In
been put through in the past few years.
Mr.. Brady is said to have received mil
lion dollars for carrying through the great
electric deal which united the Walker and
Westinghouse companies. His achieve
ments IN this line during the past year
must have netted him above 0,OOO, per-
hapS twice that sum.
By all odds the biggest combination of
the year, or of all time for that matter,
was the giant iron and steel trust. A dozen
different financiers were concerned in it.
AT the head of them were the Moore
Brothers of Chicago who are reported to
have received 100000 for their services.
The aggregate sums paid to the men who
brought about the thirty odd other great
combinations that have been put through
in the past three months amount to not
less than s150.00O,u0o.
AS usual. the big fish have had the
chief share of the profits, but the little
fish have not gone hungry.
Neu-Fledged Capitalists.
The telephone clerk of one of the big
brokerage houses made $4,000 early in the
season from the rise in Chicago Gas. In
doing this he violated no confidence, for he
bought on his own judgment, investing and
rainvesting the savings of several years
until he was ready to set up in business
on his own account. Another firm had in
its employ bright office boy, who caught
some of his employers enthusiasm over the
upward flight of the market. The boy went
to his grandfather and borrowed 5000
which the old gentleman had laid aside
against rainy day. In month he re-
turned the amount with a generous inter-
est, having in the meantime made 5000
for himself On= of the unique speculative
successes of the year is that of a young
Italian who made his first thousand from
system OF bootblack stands, but who has
mastered the intricacies of stock fiuctua-
tions to such good purpose that he is now
worth something like 100000. Statesmen,
bookkeepers, telegraph operators. almost
everybody in the district. that comprises
the money market have caught a few
drops from the golden shower that has
poured down on Wall street for the past
few months. -
Even the newspaper men who report the
doings of the financial world, and who are
seldom drawn into the meshes of the specu-
lation. have profited by their opportunities
during the past season. AT least one Wall
street reporter who shared with the editor
of the paper his foreknowledge of the mar
ket's course, has made for the two no less
than $4,000. OF course, not all have been
fortunate, for ths shearing of lambs goes
on continually on the street, but there has
been such steady 'bulr' market with a
strong upward tendency in prices that the
market has not been difficu it to follow and
the proportion of successes to failures has
been unusually large. Probably there has
never been season when so many out
siuers succeeded in taking profits out of the
realm of tn. spectators as In the one lust
closing.
The Seasons Greatest COup.
Curously enough while there was a
strong and active bull market from No
vember to May, the greatest single specu-
lative coup was the result of bear raid
AS might have been expected 1t was head
ed by James r. Keene. and 1t occurred on
the exciting day that followed the death of
ex-governor Flower.
keene had persistently gone short of
,he flo"er stocks for several weeks, beiev-
ing that they We're certain 10 take a tum-
bic. Whether these expectations would
have been realized If Mr. Flower had NOT
died so suddenly it is difficult to say With
ms death. at any rate, there came a brief
put utCltti break IN BROOKLYN Rand
transit. Chicago Gas, Federal Steel and the
other stocks identified with Mr. Flowers
name In the two hours during which the
eAchdhee was open on that Saturday
morning the Flower stocks dronnad ofs
from fifteen to sixty points each. This was
keenes opportunity. He promptly sold
out, clearing up 100000 for his mornings
work. e
Altogether Wall street Is entitled tn a
rest, having made for the interests identi-
ned with It's name more than 500 600 OOo