The age-herald., 1900-04-11
A SOUTHERNER WHO BEAT WALL STREET J. 0verton Paine, the Young
 FinanCier. HAS REMARKABLE RECORD Reaped a Fortune of Several Million Dollars in a Few Months-Has
 Great Confidence in South
 ern Securities
HAS REMARKABLE RECORD

J. Overton Paine, the young southerner who astounded Wall street a few months ago and incidently reaped a fortune of a few million dollars in speculations, is in the city with his brother, Thomas B. Paine, and s. s. Schuyler
 Mir. Paine made remarkable record in Wall street and bears the distinction of having received the largest checks ever carried out of the Consolidated exchange He also broke the record in the matter of profits on a single days transactions as well as a few other records, all of which went to swell his enormous earnings. MT. Paine went to New York about three years ago and associated himself with one or two other men in the commission and brokerage business, one of his partners being l.. A. May, formerly of this city. The firm did remarkably fine business, making money for itself and for its GUS toners, but it was not the operations of the firm that gave MT. Paine fame and fortune. When he formed the brokerage frn he reserved 3,5OO for speculative Our- poses and out of the profits on this origi- nal investment he has stored away against rainy day several hundred thousand dol lars. His first investment was in Ameri- can sugar. in which he took the long side, and pulled down a good profit. He next took the long side on Brooklyn Rapid Transit, buying at 130 The market ran up to 137 and on the day after Roswell r. Flower died, went off eighteen points. When he disposed of this stock his profits amounted to SSOiOOO.
 On the Bear side
 He went abroad for season, and on his return he sold Brooklyn Rapid Transit and American Sugar. The latter proved the better investment, he having bought at IA. The market fluctuated but finally he dis posed of his holdings at Ill at a profit of S1, 200 0O0. His total profits on Brooklyn Rapid Transit amounted to about $20o, ,0oO while he cleared over a million on his in vestments in American Sugar.
 About a year ago he withdrew from the firm of May, McElwee & Pane and devoted his time to the exchange. A few months ago he invested in Third avenue stock, and through the failure of his brokers to give prompt attention to his orders was forced out with a loss of several hundred thou sand dollars. This he will endeavor to col feet from his brokers, Hawley & Co.,, through lawsuits that are pending and that are to be flied on his return to New York the latter part of this month
 On the 1st of May he with his brother, Thomas B. Paine, and s. S. Schuyler, will open up a commission house at : Wall street, which they claim will be the finest office in the world and for which they will pay the highest rental received for any similar amount of space by any land lord in the world.
 A Native Of Charleston
 Mir Paine is a native of Charleston, S. C., but lived in Atlanta, Ga, the greater part of his life, having gone from there to New York three years ago. He is yet young man. and seems capable of en- gineering still other big deals through Wall street. He expressed the greatest confidence in securities of old southern railway companies and one or two indus trials. He is a bear in Wall street, but makes an exception in the of the se- curities alluded to He says his confidence in the southern securities is based on the prosperity of the south and the business capacity and standing of the men in charge of them.
 MT. Paine is brother of Thomas B Paine, who resided in Birmingham for two or three years, and left here about year ago to take up his residence in New York City.
 The Messrs. Paine and Mir Schuyler will go to New Orleans today, and thence to St. Louis and back to New York by way of Chicago.