The Columbian. [volume] (Bloomsburg, Pa.) 1866-1910, 1905-06-22
ODD WAYS OF WALL STREET.
Some Lucky One Have Won in the
"Street"-Thousand Have Lost.


now potent source of worry and bids
fair to affect master minds of future
| generations seriously.
Much more easily might one write
about the losing ways of Wall street.
Many people have come to realize the
fact that the stock exchange is not
built for charity; that it is a business
! proposition, and some even go so far
as to say it is a game of chance
Few men in their lives have not
been tempted to contribute a few dol.
lars in order to either bull" or bear"
the market. 1t is safe to say that a
majority of these have been bitten.
A man who, probably toiling early
and late, has managed to accumulate
Il few dollars, thinks perhaps there II
chance for him to become rich. He
takes his money, goes down to
brokers' office. and in 80 cases out or
one hundred he finds that his money
has been swallowed through manipu-
lation OF the market, or maybe
through legitimate rise or fall in
I stock values. But the man has a
chance with his few dollars. He has
a tip, probably, that his stock is GO
ing up, and, perchance, he may put
his dollars on some particular stock
that he has some information about.
He buys because the stock has
jumped 10 points and is in fair way
to go higher.
with small sum of money the
best way to do is to play the 'pyra.
mid game" said well known
broker to News reporter. This in
horse racing circles is similar to par
laying a bet" he explained.
"Pyramiding' on the stock ex-
change, just like "parlaying" at the
race tracks, would mean to the busi-
ness man the investing of money at
compound interest. The reader will
| understand that it is a case where
both money and winnings are rein
vested in new venture.
There was case just recently
whore tip was received from Chi
cago that certain stock would so to
IS, and it might be wen to buy.
Late the same afternoon an order
was received and the one man who
took advantage of the cue walked
away with small fortune, and the
traders are now expecting to see him
appear as one of the leaders on the
exchange.
This man was Of the small investor
class and had pooled ten dollar bill
with friends, who could risk but SINH
| lar amounts. He won. He had been
led along by the winning Ways of
Wall Street" but, unlike many other
little plungers, he walked away with
goldbacks. HN'
There is no authentic record of the
disgrace or unhappiness, the wealth
and happiness brought to thousands
who have taken chance" with
Dame Fortune with small amounts.
either to end their careers as great
financiers. criminals or suicides.
For years bankers have employed
private detectives to watch their en-
ployes. not especially doubling their
honesty, but to prevent their becom-
ing inoculated with the Wall street
"get-rich-quick" disease.
From a telegraph operator the
writer learned that $4,000 had been
taken by small speculator on a sin
gle deal. This happened within six
months, when the investor put $40 on
one stock
He permitted the surplus to grow
and fina.y invested in another stock.
| This went from 18 to 32. He was ad-
sed to close out at that point, but
suggested that 1t might BE we'll to let
II go to 35. He finally took the ad-
vice OF those to whom he had en-
trusted his money and thereby saved
the whole amount.
From this one deal "tipster"
earned $4,000 The "tipster" is one
of the requisites in dealing on the
change. He is as common as is his
counterpart, the tout, at the race
track although at times it happens
that even the "tipster" may be
wrong.
He is no oracle. He simply follows
the market as does the race track
tout and gives expression to his opin-
ions. which are generally subsidized.
| Though the path OF the Small in
vestor' Is beset by such obstacles as
the unscrupulous ''tipster" acting In
league with irresponsible brokers. Il
does not follow that the small invest
or is wholly without blame.
The quick accumulation of wealth
is the ambition of so many that there
must necessarily be a moth and
flame" story often.
Small spectators" said the old
timer on the street, do not compre-
hend the conditions of the market in
most cases. hey buy without study
ing the previous status of their stock,
and they cannot understand why IL
should drop when it started to rise,
and they care nothing for national or
state legislation affecting quasi-public
corporations, which is a vtally i'm.
portant factor in the stock market
There are secure and insecure
stocks he continued, "and | must