The Manning times. [volume] (Manning, Clarendon County, S.C.) 1884-current, 1906-02-28
ODD WAYS OF WALL STREET.
Some Lucky One Have Won in the
"street''- Have Lost.

no" d pOLS4L Sou4 W VI "OAAy e3o oAo9
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
TACT that the stock exchange is not
built for charity; that it is business
proposition, and some even go so lar
as 10 say it is game Of chance.
Few men in their lives have not
been tempted to contribute a few del.
lars in order to either bull" or bear"
the market. It is safe to say that
majority OF these have been bitten.
A man who, probably toiling early
and late, has managed tc accumulate
a few dollars, thinks perhaps there Ia
a chance for him to become rich. He
takes his money, goes down to a
brokers Office, and in 80 cases out "
one hundred he finds that his money
nas beer swallowed through manipu-
lation Of the market, or maybe
through legitimate rise or fall il
stock values. But the man has
chance with his few dollars. He has
a tip, probably, that his stock is 60
ing up, and, perchance, he may put
lis dollars on some particular stock
that he has some information about
He buys because the stock has
jumped ~ points and is in a fair way
To go higher.
with a small sum of money the
best way to do is to play the 'pyra-
mid game,'" said well known
broker to a 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 a new venture.
There was a case just recently
where a tip was received from j.
cago that certain stock would go to
IS, and it might be well to buy.
Late the same afternoon an order
was received and the one man who
took advantage of the cue walked
away with a 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
goidbacks.
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
fnanciers, criminals or suicides.
For Jeats 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-quicll" disease.
From a telegraph operator the
writer learned that $4,000 had been
taken by small speculator on sin
gle deal. This happened within six
months, when the investor put SO on
one stock
He permitted the surplus to grow
and finally invested in another stock
This went from IS to 32 He was ad-
vised to close out at that point but
suggested that it might be we'll to let
il go to IS. 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 a "tipster"
earned s4,500 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 rnscrupulous ''tipster" acting in
Ie7sue with irresponsible brokers, it
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 moth and
fame" story often.
Small spectators" said the old
timer on the street, do not compre-
bend the conditions Of tire market in
most cases. they buy without study
ing the previous status Of their stock,
and they cannot understand why It
should drop when it started to rise,
and they care nothing for national or
stats legislation affecting quasi-public
corporations, which is vitally i'm.
portant factor In the stock market.
There are secure and insecure
stocks" he continued, "and I must
say that our small investor is more
apt to place his money on wildcat
schemes promising big and quick re-
turns than in stable investments,
which give slow but sure results.
ooh" sighed the old-timer, "as he
walked away, "I've been watching
this game for thirty years; I'm nearly
through. but I'm not rich yet.
"And I've sent some ten-dollar bills
to the bad At that" he added, as he
passed into the Broad Exchange.
Chinese newspapers, owing to the
rhn 80 %o