Nat Goodwin's BookGoodwin, Nat. C. (Nathaniel Carll)
General
Nat Goodwin's Book
Goodwin, Nat. C. (Nathaniel Carll)
Actors -- Correspondence
One night, in Casey's Hotel, I almost made a fortune. One always
"almost" makes a fortune in a mining camp. On this occasion I was
playing roulette when a Chicago capitalist approached me and suggested
that I join a syndicate which was about to lease a property of great
potential value. To get in would cost me $5,000. Just as I was about
to pay down the money Brewer arrived on the scene and dragged me away
unceremoniously. He told me more than $40,000 had already been sunk in
the property and although they had gone down to a depth of nearly one
thousand feet they had not discovered even a tomato can.
"Do you expect to find tomato cans as far down in the bowels of the
earth as that?" I am afraid Brewer doubted the ingenuousness of my
credulity as I asked this question--blandly.
Brewer persuaded me to keep out of the syndicate. The Chicago
capitalist and his few associates in the succeeding nine months each
took $1,250,000 out of this property and the price of the stock rose
from $2 to $20 a share!
I put my all into Triangle. We bought a controlling interest for
fifteen cents a share and then bulled the stock on the Goldfield
exchange until it sold at more than one dollar a share. This was making
money fairly fast. The whole thing was accomplished in about four
months! I journeyed back to New York and quickly told all my friends to
get aboard. Expert engineers had told me that at the one-hundred-foot
level they had struck ore averaging $40 a ton. When the public received
this illuminating bit of information the stock rose to $1.50.
I bought some at that price!
Previously I had bought more than 100,000 shares with my partners and
as many more on my own account at varying prices from fifteen cents up.
The engineers were strictly truthful. They had found forty-dollar
ore all right. But my partners neglected to inform me that they had
carefully placed it where it was found! That was my introduction to the
gentle art of "salting" a mine. Ever since, at the mere mention of the
word mine there comes a brackish taste in my mouth.
They had taken their profits when the stock was selling at one dollar
and had gone short 100,000 shares above this price; in fact they were
the sellers of all the stock I purchased above the dollar price!
Happily they were unable to control the upward trend of the market. As
fast as they sold short I bought. Their stock got away from them. When
they were called on to deliver what they had sold they had not one
share and were forced to call upon me for help. Thinking they were in a
hole merely because of innocent blunders I loaned them 100,000 shares
for $4,000.
Public-domain text, read in full here on John Shaqi.
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