A Week in Wall Street: By One Who KnowsJackson, Frederick
General
A Week in Wall Street: By One Who Knows
Jackson, Frederick
Wall Street (New York, N.Y.)
to bear their honors and misfortunes, with unassuming and unrepining
philosophy.
The discovery of his situation however, called for the exercise of his
sagacity, and he modestly declined receiving the money, only saying,
that he preferred it should rest for the time agreed on.
IN A QUANDARY.
As soon as his debtor had gone out, he thrust his hands in his pockets,
his eyes resting on the floor in front, and sticking out his lips,
in a way which no other man does, he muttered to himself “I’m in a
bear-trap—this won’t do. The dogs will ‘come over’ me. I shall be
mulct in a loss. But I’ve got time—I’ll turn the scale, I’ll help the
bulls, operate for a rise, and draw in the flunkies.”
These men, I should have said before, have no other rule of judgment
for their operations than to follow in the wake of some great and
successful speculator. Mr. T. very properly regards them as sheep for
the slaughter; and although the milk of human kindness certainly is a
component of his heart, he makes no scruple of sacrificing a score of
them at a time. Why should he? for killed and eaten they certainly will
be by somebody: but they are a genitive race, and re-produce as fast as
destroyed.
WORKS OUT BY DRAWING OTHERS IN.
Mr. T. had need of no further exertion, to accomplish his purpose, than
to make his course _manifest to them_, they all followed his apparent
lead, as sheep will follow one another over a wall, if they all fall
into a ditch on the other side. Even the wise man of Israel, by his own
confession, did not know every thing. “The way of the serpent on the
rock was too wonderful even for _him_,” and so in this case; the way
of their leader was to them, “past finding out.” But the secret of the
management necessary, in this case, is, to do just the opposite of what
one appears to do. Mr. T. therefore continued to operate visibly for
a fall, by selling out small sums for future delivery, which he took
care to have trumpeted by another, while he was very reserved himself.
He thus drew all the “flunkies” after him, as _they_ supposed, while
he was in reality the purchaser, through his agents, of all that they
contracted to sell, and by this means, before the expiration of the
loan, he was in possession of the stock to deliver, with a difference
of ten thousand dollars in his favor, against the flunkies.
EVILS OF TALKING IN SLEEP.
These things would never have been known, but that T. sometimes talks
in his sleep, and while chuckling over the ruse de guerre, he recounted
the whole story, and was overheard by his chum, who thought the joke
too good to be lost.
HOW BROKERS SOMETIMES FAIL.
Public-domain text, read in full here on John Shaqi.
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