brawn,
muscle or gray matter, all seemed to follow one another into
the relentless maw of that modern Saccharine Titanotherium.
"Way back in 1890 I invested the profits of my Lamson
deal--$700,000--in 10,000 Sugar at 84, and in a few days,
amid brilliant fireworks, I bade it adieu, when it
gracefully dropped below 50. Again, four years ago, I
decided I could make no better long-time investment of
$700,000 or $800,000 Electric profits than to short Sugar
from 61 to 70. In eleven days it took $1,500 more than my
profits to even up my accounts.
"Thinking these things over of late, I determined to make a
final demand on astute and relentless Wall Street for my
accumulated deposits--a kind of
please-give-me-back-my-losses demand. I carefully loaded up
two weeks ago to the extent of 20,000 Sugar in the thirties,
and feeling the atmosphere was redolent of opportunities,
last Friday I bought 20,000 more, the last 5,000 of which in
a rather open and frank way that seemed but fair to my
scalping New York friends. Well, you know the rest. It took
fire. I cleaned up something over $700,000, and put out a
short line of 30,000 shares, the last of which I have
covered to-day at something over $350,000 profit. Strange as
it may seem, I was quit. I have struck a balance with Sugar,
and it gets no more of my money.
"I am one of the few Bostonians who are contented to live in
the knowledge that Wall Street is too big and bright and
cute a metropolitan centre for country boys to monkey with,
and you can say I am so tickled to get back my bait that I
will never again, never, wander away from home. There is one
moral that may be drawn by Wall and State streets from the
last few days in Sugar. It is this: It is not necessary
to-day, any more than it was in old days, to work deals with
false stories or fakes. In doing what I did in Sugar I
depended on no fakes nor stories. I simply followed Charley
Osborne's old admonition: 'If you want to bull stocks, buy
'em. If you want to bear 'em, sell 'em.' I bought 'em and I
sold 'em. These are Sugar facts as far as my movements have
affected them!"
For years after, even up to to-day, this yarn turned up in the press in
different parts of the world, and every time I read it I chuckled to
myself, for I see
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