The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1903-11-15
By Edwin Lefevre.

youth and that he had started three years before
with S. He only 20 now. But SaIly. knowing it
meant the abandonment OF his lucrative perquistes
as telephone boy bemoaned his undeserved fate.
He took the money ne had made MIR Tracy and
told him an interesting story of rich aunt and
legacy, and asked him let him open account in
the office Tracy congra tulated his young clerk
the $500 and thereafter Sally both emplOye
and a customer Of Tracy Middleton.
sally speculated with varying success running up
his winnings to $4,000 seeing them dwindle later
to $4,000 But in addition to becoming nveterate
Spectator he gained much valuable experience. He
became friendly and even familiar with Tracy
Middeton's clients, among whom were some very
wealthy men, for stock brokers' ONCE is very
democratic place
He really bright, amiable fellow very oblig-
ing-he was paid for it by the finland ne made the
most Of his opportunities. The customers grew to
like him exceedingly well. and 10 think with respect
of his judgment. market-vise. one day W. Basil
Thornton of the wealthiest and bolest customers
OF the firm complained of the difficulty Of beating
the game with the heavy handicap OF the large bro
erage commission.
JestinsIy, yet hoping to be taken seriously Sally
said: Join the New York stock exchange, buy
me seat and form the firm of Thornton & Hayward.
just thlnk cOonel we would have your trade and you
you could bring some friends. and could bring mine.
and I think many of these pointing Tracy &
Niddetons customer would come over 90 US They
all think lot automatically, "of your opinions on
the market"
Thornton was favoraby impressed with the idea and
Sally saw it. From that moment he worked hard
to gain the cOlenels confidence. 1t he who gave
thornton the hrst hint OF Tracy q Mddletons condt-
ton. which led to the withdrawal of Thomtons
count from the Office 1t a violation confdel-,e
ana business ethics but Thornton vas very grateful
when. two months later, Tracy Middleton failed
under circumstances which far from Creditabe
and which were discussed at great length in the street
He showed his gratitude by adding round sum TO
~ 81 l''Vv anu w ms ~ Natu oecamea mem
Der VI the Ne" OK STOCK exchange Snoruy after
ward the firm of Thornton & Hayward, bankers and
year. had become a seasoned Wall street man
From the start the new firm did we'll Colonel
from Tracy & DrddIetons Office all Of them ..pung-
eTs.' were almost enough to keep Hayward busy
customers were coming in.
Thornton a rich man, and protected his own
speculatons more than amply. He noticed the devel-
opment OF his young partners gambling proclivtes,
and demonstrated with him in kindly paternal sort
OF way.
Sally vowed he would stop
Within less than three months he had broken his
promise twice. and his unsuccessful operations I'm Ala
bama Coal az one time threatened seriously to em-
barrass the firm.
Colonel Thornton came to the rescue.
fear. to do IL again
But fright lasts only little space and memory is
equally short wall street has no room for men
with an excess timdity of recollection He had
gambled before he joined the New York stock ex-
change.
And then. too, Willis n. Hayward the board mem
Der Of Thornton & Hayward very different
person from sally the nice little telephone bo,, of
Tracy & Niddleton's His cheeks wore not mink.
they were notified His eyes not clear and i'm
gcuuous: they were shifty and a bit watery RE had
been i'm Wall street eight years and he over
worked his nerves every day from 10 a. m to ID m
on the stock exchange: also from D. m 10 midnight
at the cafe of big uptown hotel. where Wall street
gathered talk shop His system craved slim
ulantsi gambling and liquor were the strongest he
knew
When. after two years the firm expired by Iimita-
ton Colonel Thornton Withdrew. He had had enough
of Hayward's plunging. To sure Sally had become
shrewd trader" and ne had made $4,000 during the
big bull boom; but he at heart trader" which
is 10 say mere gambler in stocks and not a desfr-
able commission
But Sally. flushed with success on the bull side.
did worry when Thornton refused to continue the
partnership The slogan Buy A O. r It's
to go up,' the initials standing for ANY Old
and history the United states begot an
epidemic Of speculative madness such never be-