The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1924-07-28
NEWSBOY BEATS
WALL STREET AT
ITS OWN GAME
Charles Greenhausl %,
Swings Deal That
Nets Million.
BY HERMAN,
NEA Service Writer.

MA Service inter.
ri EW YORK, July 2s.-Beat-
I'M ing the street at its own
~ game, a Wall Street newsboy
has lust turned a deal, the closing
of which will make him a million
aire.
1t is another instance Of fact out
fctioning fiction; another instance
of an Alger success come true.
But Charles H. G~reenhaus, 25-
year-old wizard who now occupies
the spotlight of the financial district,
isn't interested in these analogies.
He never had much time for read
ing and still less for dreaming.
II began working on the street"
he says, when 1 was seven. My
family was poor. My father worked
tory. My first jon was selling papers
on Wall Street.
Il hung around the curb from
a~fter-school hours till dark and I
learned a lot about the men who
bought papers. I watched them
buy; I learned how they thought. I
came to size them up pretty well.
For even in buying a newspaper, a
man gives signs of the workings Of
his mind. .
II stuck it out at school as long
as I could But by the time I reached
The sixth grade. the family was sc
short of money 1 had to quit and get
a fuIl-time job.
After a spell in a printing office
the call of the Street got me again.
I went to work as a messenger.
What I didn't learn about the work.
ings OF finance as a newsboy I soon
learned in my new job"
Was a Mechanic
Marriage and the pressure Of
establishing a home took him off the
Street. G%reenhaus went into the
automobile business, working as a
mechanic.
suffered in an automobile accident.
he returned to Wall Street.
Il stuck around looking for the
opportunity that is Supposed to come.
Finally it come-and I grabbed it"
1t seems that former Governor
Haskell Of Oklahoma had ordered
brokers all over the country to buy
up the stock of the Middle States Oil
Corporation. When So, 500, 900 of
these securities were ready for de-
livery. the Governor found that he
couldn't pay for them.
Through an arrangement with the
stock and curb markets, a controll-
ing interest Of Southern States Oil,
of which the Middle States corpora
ton was a subsidiary, was deposited
with a trust company, which issued
S5.3S4.O 900 in secured gold notes at
Z per cent to be paid to the brokers
instead of cash.
This was a strain on some of the
brokers'" explains Greenhaus. IT
figured out that they would sell these
bonds at a good discount for cash.
I bought some and took options on
more"
Swinging Millions on S $500
4Ao young NALdIQ luen spent Lne
rest of his $500 to c~irScularize the
100000 stockholders offering them 81
in gold bonds for every dollar of
stock.
In the turnover he was able to
pocket the large discount at which
he bought the notes.
The scheme looked so easy that
the courts i~nterposed an injunction
restraining the young man. But he
instituted a condensation, bringing
in istsful Of the gold certificates to
prove his faith.
Just as soon as this is won, Green
haus hopes to cash in his million.
THE first thing 1 will do" he says,
will be to buy myself a seat on the
Exchange, and sit in with the big
boys to whom I once sold papers"
But he will not change his home
life much.
I'VE n pretty happy now" he
says, my wife. my two kids and L.
We have a nice little home in Hill
crest, L. l.; we have a small car
and eRjoy life as much as any. So
why change it?"