The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1907-07-28
THE NEED FOR THE MAN.

i =
n n AcAuLAY, when writing about
MI one man, was apt to stop off
AVA IN his essaying by wriain;s about
another. Also. Josh Billings
tells of a mule whose owner. In
turning him into one pasture, always
r turned aim into tho one next door,
and let him jump tho fence. My pen
! ell, sharpened on a similar BIAS, has so
much In common with both Macaulay
nd the mule that now, when ain
TO write of c. II. King, of Boston and
New York, distinguished among many
corporations as Financial Agent and
President or Managing Director, 1t In
sists upon commencing by writing
about myself, who am without fiscal
cedUration.
The beginning of things lay in an
article had just finished for a. popu-
lar magazine concerning the New York
Stock Exchange / had to study my
subject I promise you: for when tie
magazine gave ME the assignment I
was as ignorant Of stocks a S Of SAN
serit.
For myself have no aptitude for
commerce. and come OF a family as
deficient as myself. There is a tradi-
ton that one OF my forebears on the
pateinal side, by a procession OF acct
dents and lucky monetary tumbles,
upon single occasion piled Pelion on
ossa until his heaped up hill Of dizzy
riches reached twenty-five thousand dol
lars AT this point some one. not OF my
family, came along and took it all.
This as say, IS among the traditions
of the tribe, and lives as fortune
fieh.water mark for my house.
On the maternal side the look back
I Is equally sombre. Not one Of them
ever possessed a splinter beyond the
day. sheir family name is Tracy; and
there is distich about them iii their
native Devonshre which reaches rear.
ward to a bloody moment of Canter-
bury, and may carry within 1t the seeds
Of an explanation. 1t runs:
Since Beckett the Traceys.
Have had the wind In their faces"
Following that magazine outburst
Concerning the New York Stock Ex.
change. 7 was reposing from my labors
4 in Martins. which IS pronounced
q .'Niaartan's., and is successor to the
old Delmonico's. There was with ME
a gentleman who, because he is mod
m est, shall be nameless, but who is d
consequence in the business offices Of
well-known publishing house. Dur
ing my cff-hours cultivate friendly
relations with these money folk Of ink
u Tor are they not the purse bearers @
literature? And have not dear one!
E at homes. profoundly predisposed tt
sp.hd money?
. G.
Being full of my recent striving
and studyings anent the aforesaid
Stock Exchange, and willing to shov
my gentleman Of day books an
ledgers. pounds. shillings and pence
~ tina. I was not uninstructed touchln
subjects near his gold-clinking sou
broke into discourse concerning Wal
Street speculation; and. by way of il
lustra ton. told tragic. tales of mem
undoing. through shares that OH mar
gins had been bought and sold.
The floor of the exchange" I CRIED
in fine heat of righteousness, 81
worth roEnoly one hundred million
Of dollars. And why? Because NOR
Z than three hundred millions of share
are gambled with annually. Til
brokers Commission which CORE
spends to the gambling halls percent
aga, is s12.so for every one npnare
shares, And, since when one broke
'5uys' another broker sells the dou
BILE commission amounts to s25 on on
hundred shares, or s75,oo0,000 on th
whole exchange year. This enormou
treasure, divided g S It is among til
eleven hundred brokers who ow
seats makes the reason why ths
seat franchise of the Stock Exchan
floor is held at 100000 for each seat
Who pays it?---Who maintains thes
seat values? Why, a gullible publ
rrowding to be heeced OF all the got
rch-quick games that since the Mis-
sissippi Bubble days of Law have bee
devoted to the pillage of mankind
stock speculations, conducted b
brokers through stock exchanges an
their handmaidens, the hucket-shop
are at the head"
In Stocks MS a Bus.neks--Not a Grim
Then. by way OF sidelight, I Nor
toned that the family mansion of CAY
tain Kidd once stood upon the preser
sits of the New York stock Exchang
and considered how that freeboote
we're he to return. would sit abashf
as rustic and mere farmer OF pirat
IN the presence OF what present ds
stock buccaneers have supplanted hi
in his old Broad Street home. Also
expressed astouishment that some on
IN view OF what should be the su
legitimate profits of such enterpris
didn't take up stocks as a business al
not as crime.
1t was AT this crisis the name of c.
King was brought forward. Ny ii
tener. selling upon my closing r
marks. observed:
The stock world Is not so barr
n Of good men or right motives as y
IA think, and Diogenes shall not light
III lantern ir vain. Across the street
sSa The st. James Building. you can e
s gentleman, the non-existence
8 whose kind you SO feelngly deplo
F. King. who signs himself 'Fina
1ial Agent and who occupies the c
ire second floor Of the st. James,
S ~ nothing of Offices equally spac!c
Boston, has done what you reco