“But that would be using force to appropriate other people’s money to our own use. I think it would not be justifiable.”
PLAN CHANGED.
Mr. Friendly, though not devoid of sound sense and a good judgment, usually suffered his eagerness for speculation to blind his mind to every probable result but the glitter of gain. He had never looked on the subject in this light before. He intended nothing but a “fair business transaction,” and was desirous that his friend Bottomly should share in its success. His mind revolted at doing a positive wrong; he therefore abandoned his plan, but adopted another on the instant, which though less culpable on his part, was in the end productive of an equal degree of evil. Always quick and decided in his actions, he said “well John, you are always right-minded, though you are sometimes wrong headed, we will say no more of this plan for the present; but I think well of a speculation, and therefore you shall buy me five hundred shares to day at ‘the board,’ I will send you in a check for ‘ten up,’ and the rest we will arrange to-morrow.”
THE BANK PARLOR.
Having decided upon his plan of action, Mr. Friendly then immediately, sought the directors who held stock. Fortunately he found them all in the bank parlour. They had just been talking over the affairs of the company, I will not say that they had been discussing its affairs, for their conversation was like any thing else but a discussion, and consisted of sundry expletives directed principally against their predecessors in office. And here let it be remembered, that those gentlemen, whose ambition had led them to desire such a post of honor, were but newly installed in their places. And, having purchased stock to procure their election, with knowing but very little about the real state of the company’s affairs, they were now unable to get rid of it, and were lamenting their folly and cursing the authors of it. For be it known, that their ambition and vanity had been stimulated by their predecessors before the election, to induce those gentlemen to seek a post which they wished to abandon themselves, knowing that sooner or later it would disgrace them.
Mr. Friendly disclosed his errand at once, and was well received.
EAVESDROPPERS.
He said he was apprised of a speculation going on in the stock of the Morrison; he intended to embark in it—wished them to hold back their stock, and aid his views in effecting a rise, and he would aid them in disposing of theirs at the right time. He did not tell them that he was the sole author of the speculation; he modestly forebore that, under the plea that he did not feel at liberty to tell all that he knew. But the directors were almost immediately confirmed in their good opinion of his knowledge and sagacity, as well as of his intention to do them a service, by hearing of the large purchases of Mr. Bottomly, at a considerable advance on the previous market value.
It is curious, as well as amusing, to see how many and how slight causes sometimes tend to aid or to frustrate a speculator in his designs.
There is a set of proscribed men in Wall-street, who were once brokers, professionally, and are now broken in reputation, credit and finances—having no means but what they have kept from their creditors, and—being expelled from the exchange board for defalcation or bad conduct—they still linger round their old haunts, and carry on a system of gambling in what are termed fancy stocks, through which they contrive occasionally to entrap and empty the purse of some newcomer, or filch each other of their ill retained means, until each in his turn gets placed on the “black list,” which is the final seal of reprobation, and in Wall-street signifies—“that whoever deals with that man, shall himself not be dealt with by any one.”