Year: 1875

Intelligent people fully realize that deliberate
speculation in stocks is neither more nor less
than gambling AS much 30, in Whatever gen.
teel phrases disguised. as lottery playing, or
betting on games Of chance. or course many
OF the changes OF fortune depending on the
valuation Of securities are legitimate and pro-
per- A person owning stock purchased at
low figure has every right to make what may
accrue to him by selling the security at An
advance. No suspicion of gambling attaches
to such an operation. The reference is
only to those who make profession
OF these chances, involving as that
profession necessarily does the endeavor to Ar
range the money market to suit their personal
aims. :. The creation Of panic, through which
timiG holders may be induced to sacrifice their
stocks, which are greedily bought up at = low
figure to be sold when the equilibrium is finally
restored at profit the buying up in covert
way OF all available stock OF certain kind, thus
creating corner and sending it
far ahead OF its true value +; these and
many similar tricks of the Bulls and
Bears may be fairly termed gambling OF
a most demoralizing kind. Its increasing
prevalence is one Of the most painful signs of





noting that certain brokers in New York are
doing their best to encourage this form of spec
ulstion among persons not connected with
1.-THE street." lis known that many ventures"
are taken by business men through brokers.
their own names not appearing therein, should
the speculation prove profitable or-as is most
likely otherwise, but these have heretofore
been the free gifts OF the foolish. The fever
now, seems to have reached such height
that unscrupulous brokers find their pro
ht In inviting the world At
large to step into the fascinating ring-much
As the dealer st roulette adjures his patrons to
make up their game" There is before us the
advertisement OF Wall Street firm, in which
the bsit is spread in the most alluring style.
People with more money than brains are advised
to entrust their funds with these shrewd hnan-
ciers. to be placed ty them in stock 'priyi-
leges, as it is persussively put, the promise be-
ing that the return shall be q hundred
fold more or less. They have paid,
they say, 10 their customers $4,000 in
single day. for which only $4,000
WAS received for investment. Some persons on
their books have made ss high IS 5000 from,
sl00. and-not to discourage the little peopa
who have been saving their small earnin. 70
against golden chance OF this kind-many have
made $1,000 and over from only $50 invested
Here We have a scale Of profits such as not even
Uncle DAM Drew, or the other Kings OF the
Coast, have even dreamed Il is to be hoped
the sussr.cosnns on the pill is so very thick
;hstis will oGond the imagination Of the would
he patient, bat fools sre so strangely plenty
tina. there is no telling A more shsurd yet
more vicious prospectus than this WAS never put
forth sni the dishesrtening feature OF the bus
mess is tbs; these sharp " bankers" must know
that they supply want in the short cut TO
wesl,h. Our own duty is done when we assure
any resieE who may be iAkslei by these glitter.
ins fsllscies thst he is quite as likely to make =
fortune ST keno, or il the Havana Lottery, As
IN st<Sk speculation Of any kind and especially
s. engineered BY professional Wall street gam
eeys.