Bismarck daily tribune. [volume] (Bismarck, Dakota [N.D.]) 1881-1916, 1909-11-05
PLATING The STOCKS.
HI Who Has knowledge and He Who
CANDLES on Gossip.

HI Who Has knowledge and He Who
CANDLES on Gossip.
OF the many popular decisions touch
ing Wall street and its people none Is
more persistent or more dangerous to
the outsider than the belief that from
nothing. great permanent fortunes have
been made by shrewd and lucky spec
ulation in prices. It isn't true. We
differentiate here between speculation
in prices only and the kind of legiti-
mate speculation which seeks to antici.
pate great economic changes. Legiti-
mate speculation has its translation
into prices. too, but it takes, first, orig1-
nal capital in some reasonable proper
ton to the profits expected and, Sec
ondly, the treatment Of exceptional
opportunity with correct imagination.
Its risks at best are very large. Among
our Wall street acquaintance are sew
eral hard headed men who succeed In
making $4,000 year by speculation.
Not one of them has capital Of less
than $25O.OOO. They make it earn
about 10 per cent.
Take Blank. one Of the ablest specu-
lators we know. He has made half a
million dollars during the past five
years. Very handsome return. you
say. Let us, look ut Blank. He was
the chief accountant of one Of the big
railway systems when an uncle, dying,
left him $4,000. Mind you, he was All
expert railway statistician and an ex-
ceptionally able young man to boot.
He knew his own road like book. as
we'll as some other things that only the
directors we're aware Of. The stock Of
the system looked cheap to him, and
he used his $4,000 to margin 1000
shares. A bull market was beginning.
and within a month or two Blanks
capital had increased to 100000. He
was content with ten point rise.
though the stock advanced ten points
more That was the first of Blanks
deals. Twelve months later he won
again. He thought that the stock Of
a certain western system was selling
below its value and set about an In
vestigation to find the facts. He hired
a first class engineer and retired traf-
fic manager to travel from one end Of
that railroad to the other. and he him.
self analysed the accounts. When all
the reports were in 1t seemed to him
that the system was earning enough
money to justify an increase Of its
dividend, and he plunged once more.
He waited six months for his point
this time, and his Investigation had
cost him $1,000. He made $4,000.
Good interest, you say, but think OF
Blanks special equipment for the
game and the trouble he took to be
right. You, Mr.. Thinmarginist, after
reading the Wall street gossip in your
daily paper, adventure your thousand
or two thousand dollars and expect to
double your money Mark the differ
:ence. John Parr in Everybody's Mag
.azine.
MI Tho Navel Orange.
sE The first W. know Of the navel
orange. which is very valuable not
only Oh account Of Its fine quality and
taste. but also because Of its being
seedless. is Of a single tree that was
found growing on the northern shore
OF the Mediterranean sea. This was
about the year 1866 Crafts Of this
tree were taken TO Spain by the Moors
severa, hundred years ago. and from
Spain the trees we-e carried to South
America by me Spaniards- st. Nicho.
las =, 5a .9+.{.s3 ~. * aff