The Olneyville times. (Olneyville [Providence, R.I.]) 1887-1917, 1905-05-26

kxMx0MR dent of finance. Every
morning he would read the
financial quotations. The long lines Of
initials and the columns Of figures that
at first were meaningless soon became
as on open book to him. He could re-
member what c., J. and +. closed at a
week ago last Tuesday. and IL r.. A.
ana w. went up a point he knew Just
how much more IL would have to ad-
vance before reaching the mark which
some wise men had a month before
set for IT,
There was one thing that interested
him particularly. That was T.. l.. and
IL. common. He had once heard a
broker refer TO ii as "a nice old lady"
For ten years. he learned, that stock
had been nuctuating between fifteen
and thirty. Every summer II would
drop to the low water mark. Every
winter it would regularly work itself
back to the high level.
Now, this young man. whose name, by
the way, was Watkins, had a sort OF
head for figures, and one evening af-
ter he had been ,nlnking for long
time about Miriam Ives-a neat figure
she was-be did some figuring on t..
l.. and IL. common.
"Supposing," he said to himself,
that bought about $500 worth OF II
at fifteen and sold 1t at thirty. That
would Increase my working capital to
5000, Then on the next slump / could
all -. n y
1t was a simple proposition. All he
had to do was to be little patient. Az.
ter the third turnover he would have
5000 the fourth would see him $500
to the good On the fifth swing OF the
pendulum he would have $4,000 but
he Knocked off the 5000 for commits.
sions and other incidentals. leaving
$1,000 even money. His sixth plunge
would make him a winner To the cx-
tent Of $4,000, and after that his
wealth began to pile up very fast He
would emerge from his seventh trans
action In f., l.. and B. common with
$4,000; another go would increase his
wealth to $4,000; in nine years, fig
uring only on the turning over of his
money per annum he would be worth
S2SS,OOO. He knocked of S3S,000 for
general expenses, making his start on
the second ten years with an even
S250,O00 Before he got up to the tif-
tecnth year Of his career as a buyer
and seller of f., l.. and b. common his
head began TO be dizzy, and. putting
his pencil in his pocket. he went out
to ask Miriam If she would be his
wife.
II want you to know" he said. when
she had permitted him TO press her
check against his chest and gather one
of her soft warm hands in his, that
! my love for you Is not a selfish love II
1t was I'd have asked YOU long ago to
! be my own and let you share with me
the trouble ,hat would come from try
ing to get along OF my income But
have waited and worshiped you in ST.
lence until l could see the way clear
| ahead"
Then he kissed her q few times rlore
and told her candidly what was going
10 happen,
don't care for all these terrible riches.
Wealth Is an awful responsibility.
Let's keep your $500 and furnish nice
fiat with it,"
! But he convinced her before he left
/ that IL would be almost criminal If
he neglected TO take advantage of the
! opportunity which was opening be.
] Ia. 4. -.
/ the financial page. 1t was early sum.
mer. r, l.. and Il, common was
steadily declining along with about
everything else on the list BY the mid
die OF June IL was at twenty. and Arch
iba1d Watkins would experience q
flutteriug sensation in the region Of hi>
vest every time he took UP his paper
in Ahe morning.
On the 18th Of July T.. l.. and r
common was quoted at seventeen
Then A. Watkins transferred $500 o
his money from the savings depart
ment of the bank and opened up
checking account against IL. At tn
same time he gave certain broker al
open order to buy twenty shares o
T., l.. and II. common at fifteen.
week later he had a dizzy spell whe
he opened his paper and saw the stoc
quoted at the figure he had named
Later in the day he was informed b
Bloodgood. Ketchum & Co. that the
had bought for his account twent
shares of T., l.. and Il. common.
He sat and thought of Miriam I've
and dreamed dreams and built air ca,
ties and wrote out an open order [
, sell his twenty shares at thirty. bt
! put IL In his pocket, not wishing TO !,
, his brokers get the Impression that 4
; had gone for the mere purpose {
[ "skinning the market" lie expecte
2 to see the stock hover around fftee
;. for a month or so before starting @
D the upward swing. so there was 1