Brownsville herald. [volume] (Brownsville, Tex.) 1910-current, 1917-01-19
BOY PLUNGER OF
WALL STREET IN
COME BACK TALE
CLEANS UP THREE MILLION, GOES
BROKE, WITH ASSETS NlL-NOW
is AGAIN IN HIGH CLOVER.
MAKES THREE MILLION AGAIN, AND
USES TWO OF 1T TO CLEAN UP
DEBTS FAST ACCUMULATED.
Especial 20 The Herald.)

NEW YORK. Jan. l9.-This IL the tai,
Of man who made and lost millions in
the stock market and then came back and
made more millions, the latter chapters
furnish the most extraordinary part ~
the st~ry Likewise il NAV be- called the
story man who buried hiS talent u
Il napkin-but not "a deep that he coudn'i
dig it up for himself.
IN 1905 Jesse \. Livermore admitted he
was $4,000. 600 winner on the Wall Street
game Two wears later that $4,000, ,00o
! Today young Mr.. i.ivemore quietly ad-
mit- that he has again cleaned up 4 sun
not far from the thre million mark. Tive
million dollars of this. it b. said. has been
used ~ square up the debts he owed when
hc went into bankruptcy two year- ago.
\ With the other million and hale or -n
Y Mr. and Mr. Livcrmore are having +
pretty good tmc thank you. and con
graduating themselves oI the Young hu--
bands foresight that led him to recog-
Inize the tact that money i~ a volatile err
sense. and runs south us easily a~ n runs
north.
The "huy punger' Fam Mr.. Liveumorc
wa- known when III first came into the
1 mch.ht. Wa. born in Massachusetts IN
v 1877. and at the age VI l6 went ~ work
in q Boston brokers office marking quo
ltation- on the board for 80 week. lie
began ~ speculate IN bucket shops. threw
up his Job. and before he was DO had ac-
Y cumulated snug fortune "A 100000
I 4 year later ~ had nothing. His career
WAS q series of violent ups and tumultuou-
downs Then hr saw ihe hear markci
of 1907 looming over the financial horn
zon. and came 90 New York with h~
youne wife. tu whom he was devoted
Long before Wall Street knew of ms exist
ence hc had money scattered through All
the banks Ie didn't wait for the very
finish Of the bear market, but closed his
trades and announced ne was ont. IL
had cleaned up his S3.000000.
II was at this time that the Livermoro
foresight came into play. The young
speculator bought an annuity OF 100000
a year and had il - tied up that h
couldn't borrow against ii. mort gage II
or in any other possible way get nicke
If il or pledge that nickel to any one else
in advance tie might have obtained tht
same income at that moment by buying
bonds. But the temptation would always
have been present to pledge the bonds il
luck had turned against him. II A. nm
der~tood that he provided for Mrs. Liv-
ermore in the same manner. lie left tn,
market and went Watching. By and bN
he came back. Sully. The cotton expert
showed him where he could become king
VI that staple. The papers were tllle'
with stories of his success for a time.
Then-that bull corner that he and Sui
n engineered collapsed. The time cant
when Iivermore was down to his las
check Ili~ associates came to him witt
assurance that IT ~ could put up hal
Il million more he could carry the corne
wv safety The only half million he ha'
was the sum locked up in the annuity
! That he could not touch Tie had pai'
the LAWYERS to devise burglar-prouf plaI
of purchase. lie could not borrow q pen
I'M NJ that money III advance III he wcr
starving So he'd t. refuse that last hal
million And the cotton corner caipe to N
!, ingloriou- smash
ON February y. 1918. tho Young MAJ
who short time before had had million
III dollars at hi~ command. flied volun
tary petition in bankruptcy IN the fedora
court IN this city IIe estimated biz Ila
biiiic- at Sl02.474 ana placed No vain
on his assets. whieh were meagrr.
Ru he still had the income from thci
!. individual annuitiss. Mr.. and Mrs. Liver
. more managed to secure all the ncccS~i
ties Ut HE. with \ few e the luxurie
! thrown in. and at the same time accumu
!. lated Il surplus of cash sufficient for III
: former "hoy plunger' to return to N
? stock market when he Thought the tim
: was rnc. The amount WAS not iurr
4 old traders in Wall street contemptnous
: have termed il 4 shoestring. But with
. few months the shrcwd young specul1
: tor had repeated his former success
: running q shoestring into an ornate tar
: merry.
To all appearances the $4,000 lncon
from the annuity was Just what the do'
tor prescribed. Once. at the height
his fame, young Mr.. Livermore said to .
D Interviewer.