The Horry herald. (Conway, S.C.) 1886-1923, February 22, 1906, Image 6
The Horry fleraldj
CONWAY, S. C.
THURSDAY, MARCH 1, 1006
iHFmTBiiF
The Hepburn Measure Adopted
by the Senate Committee.
TILLMAN SELECTED
To Report the Bill to the 8enate,
and Thus a Democrat is Given
Control of a Measure Passed
by Republicans in the
House.
In tho United States Senate on Frl
day by a vote of 8 to 5 the senate
committee ,on interstate commerce
agreed to repo.t tho Hepburn railroad
rate bid without amendment, but the
resolution adopted reserves to the
members of tho committee freedom of
action concerning amendments cllered
In the senate, By a vote of 5 to 3,
Republicans prevailing, Senator Tillman,
a Democrat, was given the hon
or of reporting the bill* This establishes
a precedent, in that a Republl
can senate committee has given to a
Democrat control (f an Important
measure passed hv a RemihHn?.n hnnu?
and endorsed by & Republican presi
dent. Senators Cull >m and Carmack
were absent and their votes were recorded
only on the main proposition.
Tlie resolution follows.
"Resolved, That the interstate commerce
committee report favorably
hc uso bill 12987 as it passed the house
of representatives, it being understood
that members of the committee
have a right to vote as they choose on
amendments or to offer amendments
in the senate on consideration of the
bill."
Senator Dolliver effared the lirst
part of the resolution and Senator A1
drich made a motion to amend by adding
the restrictions concerning
amendment. The Aldrich motion pievailed,
the JUllrmative voles being Elkins,
Aldrich, Kean, Forakcr, Crane,
Tillman, Foster and Newlands. Toe
negative votes were Dolliver, Clapp
and MoLaurin. After t.iio meetlug,
however, Senator MoL.turiu sud that
he had intended to vote for the c range
*im u, u!i;mik( was macio in the committee
ireoord, leaving only Dolliver
and C*app for the resolution as offered
by Senator Dolliver. The vote for
the resolution as amended was as follows:
Atllrmattve-Culloro, Dolliver, Clapp,
Tillman, McLaurln, Uarmack, Foster
and Newlands.
Negative?Elklns, Aldrich, Kean,
Foraker and Oraue
Senator Aldrich then moved that
the bill be reported by Chairman Elkins,
but Senators Dolliver and Tillman
protested that some friend of the
measure should make the report,
and Senator Aldricii amended hi*
motion, providing that the report
should he made by Senator Tillman.
lie staled that the Democratic
members furnished the
maj >rity of the votes for the bill and
that it was proper to have the minority
"father it." To is was taken by
.Qenstnvii T \ \lli t?A* *>*%?] /"M* ?? ? ?
Kiouuvuin 1/jiii VLI ttUU p p UH All
effort 10 humiliate them, but they remained
silent.
Chairman Klkins suggested that
the report Bhould be made by Senator
Dolliver, who has been one of the men
who helped draft the Hepburn bill,
and a leader In the fight to prevent
the adoption of amendments. Only
Senator Clapp supported this suggettlon,
which had been made informally.
A vote was then had on the question
who should report the bill resulting
as follows:
For Senator Tillman?Aldrloh,
Kean, Foraker, Crane ai d McLaurin.
For Senator Dollver?E kins, Clapp
and Newlands.
Not vot'Dg- -Dollver, Tillman and
Foster.
Hefore the session today the result
was In d( ubt. The division of the R ;
publican senators on the question or
judicial review of orders or the Inter
state commerce commission lefo the
Democratic members In absolu'.e control.
It was apparent that if they
divided the court review amendment
tin\n
ffviuiu uu|iiuu^/uo,'i? x no LUIuurii>y mcin*
bers, after vainly trying to get to
pother last night, held a secoi d conference
early this m orning. The expression
at the conference wa> to re
port the bill without recommendation
of any character, but the r.greerni ut
was not binding. With that under
standing the Democrats went into the
meeting. The minority did not m k
its decision known ai d the Hepbun
bill was l&kfn up an the "coi serva
tive Republican fiction" sought to
amend the lirst oecUon. At thai, June
lure Senator D.xlver, leaning ill.:
forces that were oppo.ed to amendments,
read a telegram from Senator
Gullom asking that he ire recorded
against all amendments thaw were not
recommended by the committee unan
imously and to cast hh vote for the
Hepburn bill as It came from the
house. t
Senator DolIvAr then moved to re
' '' v nl '""ornhlv an I
yy i f
on that he would demand that Senator
CuUom's vote he recorded. This
precipitated a lining up on the only
important contention and the Democrats
desired time for further oonsutatlon.
A recess was then taken un >11
X p. m. The four minority members
present withdrew to bcnator Tlllmau's
oommittec room and then decided to
stand as a u 1 .e for the Hepburn bill,
with the resetvatlon provided in the
resolution that was Anally adopted.
When the com nlttee reassembled
Senator Deliver o died for a vote ou
bU mo'hn. which was taken with the
result given'above.
Senator Tillman, who was designated
to report the Hepburn bill, said
after the oomm.ttee adjourned:
"It was an unpx peeled, and, In one
srnse, an undeslred honor and responsibility
that was thrust upon im. As
far as I am able I will endeavor to secure
the passage of the bill through
the ten&te with such amendments as
will m+ke it more acceptable to the
business Interests of tho country and
remedy the evils whloh have produced
such widespread agitation. The policy
Is essantlally Democratic. The proposed
bill has tho unanimous support
of the Demoorats of the house and I
hope that with a few slight amendments
it will get tL-e same support In
the senate."
Seuator Tillman said that one of
the m?st essential amendments he
should endeavor to procure looks to
"the absolute divorce of public cxr
rlers, as such, from the production of 1
coal, as miners, which oondltion of
monopoly has created such a strong .
feeling of dissatisfaction and anger in
tiie bituminous and anthracite coal
regions." Ho has already draftod an
amondment covering this point. He
said that something also ought to be
done to compel the trunk linos to
make connection with spurs and feeding
lines and irive them fair treatment
I ? the distribution of oars and cllsr
equal facilities with other shippers.
Senator Tillman st&bed that In
making the report on the bill lie would
not prepare a formal analysis for presentation
to the senate, but that the
report would simply transmit the action
to the senate together with the
synopsis of the testimony taken before
the committee. lie said he would
press the bill with tho view of having
the discussion comraenoed as axm as
convenient and possible.
Statesmen v?. (JoneralH.
Sir lau Hamilton, one of the most
prominent and competent of tha general
otlloers of the British army, ha*
a passage in his recently published
book on the Itusso-Japanese war that
Is of particular Interest to ls in
Amerlea. Referring to the o mtly interfeuce
of the statesman v i ,h gen
eral commanders in the hold he
says:
"A statesman has nothing In his
gift but disaster as scon as he leaves
his own business of creating or obviating
wars and endeavors to cunduot
them. The American war, for instance,
was a war where the feebly
Llmorous civilian strategy of the Federals
was & perpetual and never-faillug
standby to Its weaker adversary,
wnlle the greatest victory the North
ever scored was when Jefferson Davis
took a leaf out of Lincoln's book and
had the ineptitude to replace that
ccmpetant, sagacious, careful commander,
Joseph E. Johnston, by a
mere thrusting divisional general, intin'itely
his inferior in all the higher
attributes of generalship "
The State s*ys Gen. Hamilton is
doubtless of the opinion witti many
of the ablest military critics, that
Johnston had he been retained in
command of the army at Atlanta,
would eventually have roiled Snerman
bick, routed, if not annihilated.
Tuere is no doubt about this. Gen.
Johnston was slowly but surely getling
Sherman farther and fartuer
away from his base of supplies, and
when he got the Federal army where
he wanted it Gen. Johnston intended
to destroy Gen. Sherman's line of
communlcitlon and thus force him to
retreat back into Tennessee or toward
the sea coast. It can easily be imagined
what a oredicament t.hl? wimhiH
nave put Gen Sherman in. Instead
of conducting an unmolested march
to the sea as ho was allowed to do
he would have conducted a disastrous
re reat with the Confederates oiosejou
nis hoe Irs.
Gen. Hamilton Is not fis only British
(111 :er that has commented on the
interference of statesmen in the management
of our eivil war. Gol. Henderson
in ids admirable "Life of
Stonewall Jackson" glv^s President
Davis errd t for saving Gen. Burnside's
army fr>m annihilation after
u?e battle of Fredericksburg. He
says it was the intention of Lee and
Jackson to draw Burnslde away from
ois for tilled position on the opposite
side (if die rm r at Fredericksburg* to
bhe tiouth Anna soma twenta miles
nd there defeat him and destroy his
a my before it cauld reach its for^lII
d p sition on the North bank of
tnc Htppahanwck river. Pie idem
D ivis ov rruled Lae and Jackson and
ti e battle was fought near Fredericks
u.. a 1 + 4%
uurK ujbiA'mi 01 iwenty miKS away
win re It should have b en fought
That Iiurnslde's army would liavr
been desi ro>ed there Is now no doubt.
Col liBiid r.->on also says that Gens.
L ? a< d Jacksou so played on the fears
of Presidedi Lincoln that they made
him puoihe Fed ral armies In positions
where tAey oould be defeated in
detatl, instead of allowing him to ooncentrate
them.
Fito Burned to Deaih.
At Johnstown, Pa., five persons
burned to ceath two others seriously
Injured and foul houses completely destroyed
by a fire which originated in
the home of Patrick Grogan, at Tunnel
Hill, about 27 miles east of this
pity . The monetary loss was about
REVIVAL OP THE HOR&EL
For Years the Trolley and Automobile
Lessoned tho Demand.
Flftoou years ago the bottom very
suddenly dropped out of the business.
The street ear system in the cities
changed with slight warning from
hoi so power te cable and electricity,
and not only threw upon the market
thousands of kersea that had been la
use upon street ear Hues, but deprived
of value many thousands of other
thieo, four and lve~year-olda that wer#
upon the breeding farms in readiness
for the succeeding years' dessaad.
Most of these animals were eaerilined,
lu Philadelphia, New York and
Chicago tkey were said at about $10 or
$12, their actual value for rendering
purposes. Following this came the
yinic, and In addition to the disappearance
of the market fer horses for general
purposes there was no longer any
demand for carriage or saddle horses,
which are always the llrst to be cut off
lu the days of adversity.
Huudreds of breeders went out of
business, but tke pluckier ones aeut
agents to Europe to see If a market
could not be secured. They found the
hluropean tramways still using horses,
and ia a short time American animals
were supplautlng the scrawny stock, in
use abroad. later many horses were
disposed of to hluropoau armies, and
when still later came a few wars the
business was again upon its feot.
Thousands of animals were seat to
Cuba soon after the American occupation.
There is still a good demand
there for ths lighter animals, which are
used for gardening, truck raisiug and
small farming. The south also was induced
by til# lew price of horses and
the high price of mules some years ago
to buy many of the lightweights for
use iu the cotton field.
The lioar war created a demand for
nearly a hundred thousand animals,
nighty thousand wore skipped in ono
year by the Kscllsh, and tho western
bronco became a familiar sight as au
Iilnglish cavalry horse.
Business men no longer buy the
strootors for their own use. A streetor
is a no rue that once was popular for
light wagoua, cars and goneral use.
These have been supplanted in most of
the cities by tho sleek, heavy draft
horses, products of tho breeding of imported
stallions and native marcs.
Not tho least interesting feature of
the horse business is the annual visit of
buyers to Franca and Belgium, whore
pure bred stallions, raised by exports
under government supervision, are
yearly purchased by thousands. These
are later refold to western farmers and
breeders, who tiling nothing of paying
from $1,000 to $4,000 for a pure breed. |
From seven to eight thousand coach
and draft horsos are yearly Imported
from Europe. These animals are
brought over In bunches of from 25 to
150, and they aro all being absorbed by
the breeders. As many as 1,500 horses
a day are disposed of at the larger
marketing points in this country.
Dealers declare It to be a fact that
the price of horses has increased in the
past live years at the rate of $10 a
year. While tho standard car horse
price in New York, before cables and
trolleys came in, was from $110 to $125,
horses of the same grade now sell at
from $150 to $200, and are scarce at the
new figure
The outlaw horse, tho bucking bronco,
is becoming scarcer each year. Ten
years ago suck horses wore as plentiful
as jack rabbin, but they will soou join
the buffaloes in retirement.
The outlaw comes from the poorest
blood on tho range. He is said by cowboys
to be a horse dogouorate, a criminal
by nature, just as men go wrong
who have poor blood in their veins.
His parents are in nearly every case
mustangs, and the stock is the same as
the wild horse of early plain days.
Cowboys say that nearly overy horse
will buck if turned loose in a pasture
for several mouths, but be will soon
quiet down. The outlaw will buck no
lunvtui nun iuu? V/I 11 w TV UUCM lit} 11(13
boon successfully ridden. Famous
huckers are rare now. The bettering
of the blood sounded the do&th knell ol
the outlaw.?New York lun.
Education In China.
Education In China is free to all
males. Hundreds of thousands compete
for the honor of being a mandarin,
as from that order alone the highest
civil officers are ohoaeu, such as
viceroys or governors of the eighteen
provinces.
These men have almost unlimited
power, hut every three years they are
called upon to make an exact report of
all tho affairs of their province, including
In that report a truthful account of
their own faults. If this is omitted a
committee of investigation at onco
looks into It and tho viceroy, if-found
guilty of hiding anything he should
have confessed, suffers degradation, and
sometimes death, if Ills offense Is a
grave one.
Censors also, at any time and always
unannounced, arrive and cxamino the
affairs of each provlnco. If, under this
examination, anything is unearthed
contrary to tho approved standard, the
offender is at once punished. Therefore,
as you seo, a good education according
to Chineso ideas is the open
door to the highest official places In the
land. Nothing more Is required.?Sunset
Magazine.
Belgium's 190,000 Saloons.
Belgium, where public libraries are
almost unknown, has 190,000 public
drinking houses. That means ono public
house for 36 Inhabitants, or one
public house for twelve men above 17
years of age, the publican Included. In
the last fifty years the population has
Increased 50 per cent, the number of
public houses 258 per cent.
The Ixindon police have a collection
of more than seventy thousand seta of
finger prints of criminals.
CAUGHT AT LAST.
Scion of i Wealthy Family Looted
Many Homes
i
AND GOT A BIG PILE
He Was Aided by His Evening Dress ai d
Pashionable Demeanor in His
Robbing Trip*, Which Has
Been Going for a Yeai or
More.
The police of Brooklyn were astounded
Thursday by the revelations
following the discovery that in Herman
Jensen, a young man who for
three days had hern a prisoner at the
Raymond street j til, they haye a fash
lonable robber who has, within the
past twelve months, duriDg which
the authorities tried in vain to catch
him, looted no less than one hundred
homes in Manhattan and Brcokljn
and whoee pllferirgs are alleged to
aggregate $16,000 in jewelry alone.
Letters found in Jenseti'struDk !uinlsbed
evidence that the young man
is the scion of a wealthy and well 1
known family in Copen hp gen, Den- 1
mark, from where he h?n \ epn ree.pt
Irg an annuity. Documents showed 1
thai be whs highly educated and had
moved in the test society. The police
also found seventy pawn tickets 1
for stolen stuff aggregating $3,000,
several suit casee, half a room full cf
household goods, trinkets, jewelry 1
and a great quantity of the tluest
kind of men's clothes.
Jensen's specialty was robbing fashionable
boarding ar d exclusive apart
mento houses, In which his cultured air
had made him a favorite and where he 1
won his victims by his many accomplishments.
The evidence was fouuo
in a room at No. 210 Seventh street,
Brooklyn, to which he was tracked by
the shrewdness of a negro maid of
Miss Frances Adraln, of No. 105 Elliott
place, Brooklyn, whose home was
robbed two months ago.
Jensen secured roomB at Miss Adrian's
home through his line air and
smooth conversation. A few days later
he disappeared, and with him several
hundred dollars worth of J iwelry '
and household stolf. MKs Adrian's
maid saw him getting clT a car at
Third avenue and Tenth street, and
told the police.
Detectives Gomerlnger, O'Connor ,
and Delaney made a search of the
neighborhood and finally Inquired
Thursday at the house of Mrs. Mary
Fleming, in Seventh street. The detectives
were convinced when they
openc d the trunk and were surprised j
to tind he was already Id prison on
another charge. Ills picture was also \
in the Rogues' Gallery.
The police say they have seventy
complaints against Jensen, many of
whom have identified his picture. All
the victims declare the fashionable (
robber rented rooms, displaying ere .
dentials, stayed one or two days, and
then disappeared alorgwlth hundreds
of dollars worth of loot. <
Mcxioan OutlawH.
A pitched battle recently took place '
In the Sierra Madre Mountains of
Mexico near Tcmas between tbe band 1
of Juan Colorado, tbe noted outlaw,
and an escort of seven men conveying
a rich bullion train from tho Dolore.- '
mines to the Rio Grande, Sierra Mao re
and Paoltic railway. Tbe bullion train 1
was ambushed by Colorado and his 1
gang In one of the wildest portions of (
the mountain oountry. William
Smith, an American, was^ln charge of (
the treasure and Its guards. The at- 1
tack was resisted with desperation (
and the bandits were forced to retreat (
after several volleys had been tired and
a charge led by Smith was made upon
their position. During the light Smith
was mortally wounded and two of his j
men were killed cutrigbit. Colorado, ,
the outlaw chief, Is reported to have ,
^een wounded. Three of Ms own were ,
killed. One of the mules of the pac k
train, heavily loaded wPh bullion t( j
the value of several thousand dollars. |
sprang over a precipes during tbe (
W... 1 ~ J - L 1 - -
uaititt aim wfj* u*MH O lO Tl' C 8.
fie?oh(>r Kllit tl?
At Kncxvilie, Term., on Friday '
right, the Rev. G. II Wells, colored
was shot at d insi antly killed by Jan es
Coram colore d, at tt e be me of a negro '
woman, where the preac) er had been
called to pei form a weddn g cere mony.
All were at supper, before the wi d- 1
nirin uihrn a * ? -
t.uvu u uirpuni aiure over a
trivial matter, Coiam pulled his pis- ;
tol and tiring once at the pretcher,
who fell dead, the bullet bavin# en
tered near hie heart. Coram csctped.
Following the it quest by the coroner,
the coupie hunted up another minis* 1
fcer and we married. 1
Hook. liftiiKCd.
Johann Hoch, the wife rourderpr, ,
waa hanged at Chicago on Friday. He
was dead two mlnntes after the trap
was sprung. A short t'me before the i
hour set for the executtou Hoch's attorney
filed a petition In V e United
States circuit court asking Federal in
tervention to save Hoch. The petition (
said that the State authorities were (
endeavoring to excute noch In violation
of the Fourteenth amendment of
the Constitution and without due pro- (
cess of laws. The petition was denied.
|t
BEAVERS IN STRIPES.
A Former High Po?toltlco Olliolal in
the Pen.
Geo. W. Beavers, former chief of
the division of salar&rles and allowances
of the postoftloe, who began a
term of imprisonment in toe Moundsvllle,
W. Va., penitentiary last week,
was the guest of honor of the Washington
colony in that institution at
breakfast after his arrival.
Upon his arrival in the penitentiary
Beavers was treated as the other
prisoners from Washington who came
with him; that is, he was stripped of
the clothes he wore and, after a bath,
whioh, by the way, he seemed verv
much to enjjy, be was .uniformed in
prison BlripcB. When this was done
he was taken to the mess hall, where
he was cordially greeted bv Machen,
Lorecz and the Groffs, all of whom
had guuo before, for tilmses similar
to that which caused Beavers' downfall.
While the new membercf the Wash
lngton colony made a strong etiort to
bear up, it was plain to be seen that;
he was suIT.ring deep humiliation,
and try as be would oould not shake
ctf the signs of his disgrace. George
W. Beavers, who pleadtd gu.lty In
criminal court No. 1 to d?. fraudlng
the United States, was sentenced by
Ju.tJce Gould to Imprisonment) in the
teuitentlary for a period t f two years,
his term of service to begin upon his
arrival In prlsou.
Beavers was indicted jointly with
State Senator George E. Green, of
Bicgham, N. Y., of defrauding the
government in connection wish the
sale of Buudy time recorders for use
by the po*t< ftlce department. When
sentenced, Beavers expressed a desire
to go lo the penitentiary as soon as
possible to begin his term of imprisonment.
Accordingly, Warden Harris,
cf the district jail, soat him to
Moundsville In company with fourteen
other persons who were convicted In
the local courts within the pajft
month.
Before leaving the jail the convicts
were handcuff d and on&lned together
in the usual way. A noon# the prisoners
were three white men besides
Beavers. Wheo the gang was lined
up, Beavers was the odd man and was
the last one to be slipped ou the common
chain to which they were all
linked by the handcuffs which they
had upon their wrists.
The prisoners were conducted into
a coach of a Baltimore ar d Ohio train
chained together, Beavers being the
last of the hatch to enter the car. He
consequently was given a seat In the
rear end of the car, and while ho was
able to view the humiliation which
the others felt, none was able to see
how ho bore his disgrace.
Cotton Futures.
Those who are In a position to know
say that the speculating In the cotton
futures In the {South for the past few
weeks has been eaormous, and that It
has resulted in a loss to this section of
at least one hundred million dollars. It
may be more or it may be leja. At
any rate the loss is appalling. We
are sorry to ssy that Swuth Carolina
comes in for her full share of this loss,
and It Is a deplorable fact that many
farmers have rushed headlong Into
this speculating cataclysm, throwing
their hard earned dollars into the laps
of the despollers of thier prosperity,
and may bo, Integrity. This wild, avetIcious,
fretzled spirit, to get somtthing
for nothing, has long prevailed
In 01 r cities and towns, among those
who bet on thu future pr-co of ottou
a.--rl nthp.r farm ?
? |/&vuuv/i;0) UUU 11UU UI1
bll quite recently h*s its baneful influences
reached out Into the o untry
to any extant. The slogan has none
ft rth from the Southern Cotton AslOtii&tlon
that the speculators, gaoibiers
and manipulators of cotton prices
to the Injury of the producer must he
Iriven out. This was the rallying cry
:>f the cotton growers and busing
men of the South when they met to
Hganlza the Southern Cotton Association,
and the South would be millions
)f dollars better off each year if it was
uriled out by all our people.
liOst Bonds Turn Up.
The Columbia Rtcord says some of
the coupons for the celebrated Cornelion
bonds have turned up. The sb te
treasurer received them the other day
with request for Interest for the year
1901. Efforts are now being raar!e to
li ace them, as they are now in the
hards rf the Palmettp bank, an iDno
3 nt puichaser. The Comelson bonds
have an in'eresfclng history. Therein
just 910,000 In the lot a*~d they were
held by Mr. Adolph Cornelson,
brother of Mr. Geo. II. CnrnAiam r*
will bo remembered that M\ Adolph
C rnelson went from this placo some
pears sro to Australia, where he died.
He bad these bonds with him, and
after hltt dea' h they ould not be found
Efforts have been made to get the
legislature to reimburse the helra of
the estate for the mis Ing boids. This
has always been refusal The num
hers of the hoods weje obtained aud
when the 1901 Inter* st coupons were
sent down recently Mr. Geo. H. Oj
nelson, of this city, was notltl d. It
Is said that the hoods wore brought
from Australia by seme rue and sold
nn the New York market just after
Mr. Adolph Cornelson died In 1901.
Who sold them, or where they got
them, is not known.
Wilt H?tu to Stand.
The Minneapolis Journal says that
imp microbe br eds 140,000,000 In a
day. This s ems Incredible, but the
deuce of It Is wd can't dlspiits it We
haven't counted them, and until we
can take & day off from business matters
to do this bit of census work the
Journai's count will h&vo to stand.
ODD WAYS OF WALL STREET.
Seme Lucky One Have Won In the
"Street"?Thousands Have Lost.
"Tho Winning Ways of Wall
Street." This la a subject which has
bothered meu la gonoratlous past, is
now a poteut source of worry and bids
fair to affect master uiiuds of future
generations serioya ty.
Much wore easily might ouo write
about tho losing ways of Wall atreot.
Many people Mats come to realize the
fact that the stock exchange is not
built for charity; that It is a business
proposition, and some even go so far
as to say it k? a game of chance.
Few men la their Li You have not
boon tempted to contribute a few dollars
In order to either "hull" or "bear"
the market. It is safe to say that a
majority of these have hoan bitten.
A man who, probably toiling early
and late, lias managed to accumulate
a few dollars, thinks perhaps there ia
a chance for him to become rich, lie
takes his money, goos down to a
broiler's office, and in 1)9 oases out ut
one hundred ho finds that his money
has boon swallowed tlirough manipulation
of tho markst, or maybe
tn rough a legitimate 'rise or fall in
stock values. But'The man has a
chance with his few dollars. IIo has
a tip, probably, that his stock is going
up, and, perchance, ho may put
his dollars on some particular stock
that he has some information about.
He buys because tho stock has
jumped 10 points and ia in a fair way
to go higher.
"With a small sum of money the
best way to do is to play the 'pyramid
game,'" said a well known
broker to a News reporter. This In
horse racing eirelos Is similar to "paa*
im7 iig m. B?l., 113 OXpi3Hn<Ml.
"Pyramiding" on the stock exchange,
Just like "parlayimg" at th?
race tracks, would tnoau to the business
man the investing of money at
compound Inter oat. The reader will
understand that it is a case where
both money and warnings are reinvest
ad la a new Ten fare.
There was a caso just recerHy
where a tip was received from < dcage
that a certain stock would go to
45, and it might be well to buy.
Late the same afternoon an order
was received and the one man who
took advantage of the cue walked
away with a small fortune, and th?
traders are now expecting to see blua
appear as one of the loaders on the
exchange.
This man was of the small Investor
class and had pooled a ten dollar bill
with friends, who could risk but similar
amounts, lie won. He had been
led along by the "Winning Ways of
Wall Street," but, unlike many other
"little plungers,"he walked away with
goldbacks.
There is no authentic record of the
disgrace or unhapplness, the wealth
and happiness brought to thousand*
who have "taken a chanco" with
Dame Fortune with small amounts,
either to end their careers as groat
financiers, criminals or suicides.
For years bankers have employed
private detectives to watch their employes,
not especially doubting their
honesty, but to prevent their becoming
Inoculated with the Wall street
"get-rlch-qulck" dlsoase.
From a telegraph operator the
writer loarned that $14,000 had b 'U*
taken by a small speculator on a r'nglo
deal. This happened within si*
months, when the Investor put $10 on
one stock.
Tie permlted the surplus to rtow
and finally Invested In another stock.
This went from 18 to 32. He was ndvUed
to close out. at that point, but
suggested that It might he well to 'et
It go to 35. TTe took the advice
of those to^^Btu he had entrusted
his mono> ^l thereby saved
the whole amount.
From this one deal a "tipster"
earned $4,500. The "tipster" Is one
of the requisites in deal'ng on the
'change. Ho Is as common as Is his
counterpart, the tout, at the race
track, although at times It happen*
that even the "tipster" may be
wrong.
He Is no oracle. TTe slmnlv follow*
the market su does the rn?* track
tout and glvee expression to bin onlnlons,
which are generally subsidised.
Though the path of the "small Investor"
In beset by such obstacles as
the unscrupulous "tipster" acting In
league with Irresponsible brokers, It
do?s not follow tha^^to small investor
Is wholly wlthr* <^>1nme.
rne quirk accumulation of wonHh
is the ambition of so many that the-o
must necessarily be a "moth and
flame" story often.
"Small speculators," said the oldlimer
on the street, do not. comprehend
the conditions of the market in
most rases, "hoy buy without studyhie;
the previous status of their stork,
and thov cannot understand why it
Should drop when It started to rlso,
nr-1 they rare nothing for national or
shite 1 o<*ipfation afTeo'lng qnasi-nublio
corporations, which is a vitallv Important
factor in the stock market.
"Timre are secure and lnsorure
stocks," bo continued, "and T must
ray that, our small investor is mora
apt to place his money on 'w'ldcat'
schemes promising big and quick roturns
than in stable investments,
which Rive slow but mire results.
"Ob." sierhed the^^d-tlmcr. "as bo
walked away, "T'v.^^con watching
this game for thlrtjr-jc'ars; T'm nearly
tltfoiiflfh. but T'm not rich yet.
"And I've sent, some ten-dollar bills
to the bad at that." be added, as ho ^
passed into the Broad Exchange.
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