The Romance and Tragedy of a Widely Known Business Man of New York

by William Ingraham Russell

CHAPTER XIII

PROSPEROUS DAYS

My business in 1879 returned me nearly sixteen thousand dollars, a satisfactory increase over the previous year.

My wife and I had become much attached to "Sunnyside," and as the owner was willing to sell it to us for just what it had cost to build, plus one thousand dollars for the land, we bought it. We then spent eleven hundred dollars in improvements, and when finished our home had cost us sixty-five hundred dollars.

It was certainly a very attractive place for that amount of money. To be sure it was only an unpretentious cottage, but a pretty one, and the interior had been so successfully though inexpensively treated in decorations and appointments that the general effect attracted from our friends universal admiration.

As our neighbor, Charlie Wood, put it on his first inspection, we had succeeded in making a "silk purse out of a sow's ear." His remark rather grated on us, but it was characteristic of the man and we knew it was simply his way of paying us a compliment.

In January a broker in the trade, not a competitor for the reason that he was a specialist in a line that I did not cover, gave me a large order, for future delivery.

He told me it was a purchase on speculation for himself and another party whom he named, and that not only should I have the resale but they would give me one-eighth interest in the transaction.

Up to that time I had never been interested to the extent of a single dollar in the markets in which I dealt as a broker nor had I any speculative clientage, I was certain the operation would be successful provided they did not hold on for too large a profit and overstay the market. I accepted the order as he offered it, but stipulated that I should have the right at any time to close out my interest in the deal.

The purchase was made and a few weeks later long before time for delivery, I found a buyer who would pay a clear ten thousand dollars profit. In vain I urged them to accept it. Then with their knowledge I sold my interest and secured my twelve hundred and fifty dollars.