Democratic Sentinel, Volume 17, Number 28, Rensselaer, Jasper County, 4 August 1893 — SUCCESSFUL SPECULATION. [ARTICLE]

SUCCESSFUL SPECULATION.

How Stephen Girard Started HU Drayman on the Koad to Fortune. The advice of a shrewd business man is sometimes of more value, even in a financial sense, than direct aid. It proved to be so in the case of a drayman who was employed by Stephen Girard the Philadelphia merchant. One day the drayman, who was an industrious, bright fellow with a good many mouths to fill at home, was heard to remark that he wished he was rich. “What’s that?” sharply said Mr. Girard, who heard the grumble. “Oh,” said the man, “1 was only wishing I was rich. ” “Well, why don’t you get rich?” said the millionaire, harshly. “I don’t know how without money,” returned the drayman. “You don’t need money,” said Girard.

The man laughed. “Well, if you will tell me how to get rich without money, I won’t let the grass grow before trying it,” returned the other. “There is going to be a ship load of confiscated tea sold by auction tomorrow at the wharf. Go down there and buy it in, and then come to me. ” “I have no money to buy a whole ship-load of tea with,” he said. “You don’t need any money, I tell you,” snapped the old man. “Go down and bid on the whole cargo, and then come to me.” The next day the drayman went down to the sale. A large crowd of retailers were present, and the auctioneer said that those bidding would have the privilege of taking one case or the whole ship-load, and that the bidding would be on the pound. He then began the sale. A retail grocer started the bidding, and the drayman raised him. On seeing this, the crowd gazed with no small amount of surprise. When the case was knocked down to the drayman, the auctioneer said he supposed the buyer desired only the one case. “I’ll take the whole ship-load,” coolly returned the successful bidder. The auctioneer was astonished; but, on seme one whispering to him that it was Girard’s man who was the speaker, his manner changed, and he said he supposed it was all right. The news soon spread that Girard was buying tea in large quantities, and the price rose several cents. “Go and sell your tea,” said Girard to the drayman the next day. The drayman was shrewd, and he went out and made contracts with several brokers to take the stock at a shade below the market price, thereby making a quick sale. In a few hours he was worth fifty thousand dollars.