The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-04-11
SHREWD INVESTORS
SEE MONTHS AHEAD
May Instances in Wall Street
Of Almost Uncanny
PreScience.
FORTUNES MADE BY GIFT

he seen almost any DAY Sauntering
along wall Street. He's known In the
Street a. the financial knacker.
In London, when cab horse drops
dead in the street. they say: Send
for the knacker" He comes, gives a
guinea to the company owning the
horse and carts away the carcass. He
cuts II up sells the skin to a tanner,
the meat to the cats meat man. the
bones to the soapmaker.
Whenever anything goes 10 smash
in Wall street they send for the
knacker to gather up the pieces. He's
n great Judge OF values. the best man
to appraise the cats and dogs left in
bankrupt's safety vault. It's trick
OF the trade that's made him wealthy
. One day street railway went into
receivers hands, and 1t was an
nounced that twenty dollar assess
ment was TO be placed on every share
OF stock. The members of large
commission house sent for the
knacker, who promptly advised them
10 sit tight and await Developments.
But they were afraid OF throwing
good money after bad. so they threw
their stock on the market for what II
would bring rather than nay the
heavy dues.
The knacker's advice was fouted,
bu, he didn't mind. He waited until
the shares were selling for next to
! nothing. when he quietly bought up
thousand Of them without saying a
Q
sailed for Europe.
When the knackor had been two
weeks In London. he received a cable
gram from his agent informing him
! that his stock had advanced from
seven dollars n share 20 fifteen dollars
! and advising him to sell. The knackor
didn't reply. Several months later ne
was in Egypt He learned then that
! the stock had advanced 10 twenty
seven dollars n share. He at once sent
! a message, instructing his agent to
sell, and he cleared profit of SEQ
/ 600 before dollar OF the assessment
! had been levied.
This prof was due 10 mental
trick. The kracker knew tina. under
the laws Of New York State no stock
! holder can he compelled to pay a stock
assessment before six months had
elapsed The street railway COM
panys franchise was SO good that tho
stock was bound to recover its value
before that time.
The knaCkcr had exercised the fac
ulty OF looking six months ahead of
the other fellows.
This is faculty cultivated ny the
most successful men IN Wall Street.
In a measure they're clairvoyants
Fnanciers hahituallv look further
ahead than most men from the very
nature OF their business. To the In
weston the present value OF security
is nothing compared with what its
worth will he in the days 10 come
II was not a weird gift of prophecy
that enabled Jacob II. Schiff in Jan
uary. 1906 10 lift the veil VI the future
and peer fourteen months ahead of his
fellow men. II was clearslghtedness
He at that time electrified the coun-
try with the warning that unless the
then existing currency system were
changed financial disaster would on.
sue. Unfortunately his words wer,
not Needed in time. and in the fall II
1907 came the silent panic that SHOOT
tHt circuit OF the country.
Several years ago a private a~cre
tary of John II. Rockefeller left IN.
latters employment and started Il
business IN Wall Street as dis
cretionary broker. Years OF intmat,
association with the richest man II
the country had enabled him TO gall
valuable knowledge OF stock marke
operations. Many prominent New
Workers regarded the broker as
wonder. Members OF the Metropolital
and Union clubs gave him their bust
= ness. and al the start ne made grca
> deal OF money for them.
A Suddenly this broker came 70 CrI~
h and ended in a lamrntahle bankruptcy
r Then his friends realized the truth
o For years the broker had livei IN IN
: reflected light Of a great man. LET
q to his own resources, when he tried {
i capitalize the future he failed ii
+. was helpless when he could no longe
z use another mans brains. The valu
4 OF a great Gift was shown BY It's alb
x sence.
OF all the seers OF the Street prot
- ably the one who is more absorbed b
II the exigencies OF the future than an
h OF his contemporaries Is James J. Hi
e This altruistic quality In Mr.. Hin wa
o once wildly impressed upon my m!nC
" II was in the Hotel Gotham.
- The railroad monarch, who rules IN
=. destines OF so many thousand mile
is OF transportation lines. brushed asid
$ all of his own weIGhty personal in
- terests and revealed as in a fash III
le one burning topic that ahsorhs hi
u mind. He lives in thought half
u century hence and tries TO solve III
"A distant problem how, when this cour
try has a population OF 200 1000 90
3 persons. the generations now CROWN
q to manhood are going to be employe
r and fed.
- 1t was long past the railroad mar
y, cier's dinner hour and the snxiou
waiter in the room adjoining apprt
i'd hensively appeared on the threshold
III ssk whether he would not sit down I
pr the meal which had been served. NJ
lie Hill waved him impatiently away. 7
him this was no question OF mel
~. speculation. This multi m!llionaiI
,e really beheld before him as he spoh
10 a vision OF tho grim spectre whic
tn confronts the unemployed. trampin
le hateful streets in hope OF food ar
W shelter. He foresaw an ironless ar
-, the depletion of the forests and min'
as of the country.
IIn lapi,teI tha pIa nf ham,