«I l . , ,\. i . METROPOIJTAN - Homer SUPPLEMENT -‘-. "l-‘ r \' I‘ ¢\‘ “ “is?” I‘JMME‘NSE FORTUNES ACCUMULATEDI‘N THE BROKERAGE BUSINESS 0F ALFRED J. ENO & CO. .___- Handsome Offices, with Every Facility for ' Carrying Out the Most Exactlng Bus!- ness—The Members of the Firm. A The half has never been told of the enormous fortunes which have been made in speculating in stocks, bonds, grain, cotton and other securi- ties in New-York, the centre around which re- volves the entire financial system of the United States. The various exchanges here are the theatres upon whose'stages is enacted every day the drama. of fortune seeking. It is a. fascinat- ing subject--this process of money making—and the more one studies the different phases of it the more interested he becomes. On the floor of any exchange at the present time will be found a. small army of brokers, who have in their books orders to buy or sell thousands upon thou- sands of railroad or industrial shares. Upon the skill and sagacity of these men depends the failure or success of hundreds of customers. No one who has ever witnessed the scenes of the Stock, Consolidated, Produce, Cotton _or Coffee exchanges during a period of speculative excitement can ever forget them. In the bedlam and roar of loud voices, and the running and hurrying to and fro, will be found an im- pressive lesson of the labor and faithfulness _re- quired on the part of the broker in best looking after the welfare of his customer. Among the many exchanges doing business in this great city there is none more popular than the Consolidated Exchange, which is located in lower Broadway, in the centre of the Wall Street district. And of the many firms which go to make up The bone and sinew of this great financial in- stitution none is better known that Alfred J. Eno & 00., whose commodious and handsomely fitted offices are in the New Exchange Court ,‘Building, No. 52 Broadway. With excellent con- n'ections all over the country, this company transacts each year a business of large propor- tions and constantly increasing importance. Every department of it has been planned with rare good judgment for providing the best facili- ties for carrying on its affairs. Buyers for invest- ment or speculation are both given exceedingly careful attention, and it is the aim of the firm to make these two features prominent in their transactions. This is especially true in the case . of trustees, guardians, administrators and many others having financial relations for whom in- vestment securities are handled with the great- est success. Its references are of high order, mm which are the principal commercial agen- [99? ‘\ ' f, ”r3” \\ _ , u‘h .l‘yfil; ' - ~'-“;A.-O-' 'V.— .4 . cles, like Dun and Bradstreet’s, the Produce Ex- change Trust Company, the secretary of the Consolidated Stock Exchange, and many other well-known and prominent business men and firms of this and other cities. This in itself isof prime interest to the outside investor who operates from a. point far distant. The members of this firm are Alfred J. Eno. Thomas J. Penton jr., and Louis F. VVerner.'9~11 of whom are members of the Consolidated Stock Exchange. Mr. Penton has been on the rolls of the Exchange for over twelve years._ Market letters are prepared for the firm by one Of the best financial writers of the Street, and these are sent out for the information of customers three times a. week. Distance is no objection to a satisfactory service in the way of buying and selling securities through this office, for the ser- v12e is so planned that out of- town cc rrespond- ents receive as careful attention as traders in the offices themselves. All inquiries regarding special stocks and bonds receive prompt atten- tion._ For the grain and cereal trade there is a specxal wire to Chicago, and on the floor of the Cotton Exchange it has the best representation. .In speaking of the general features of specula- tion this firm has the following to say: “Speculation in stocks, grain and cotton has increased largely of late years. Every one from the highest to the lowest has a speculative nature, and large fortunes are being made by persons who, without this venturesome spirit, would probably be wearing out their lives as struggling tradesmen or poorly paid clerks. Most of the great fortunes of this country were not made through the ordinary line of trade, but by bold speculation. It is well known that the mum-millionaires of this and foreign coun- tries have made their fortunes in speculation in stocks, bonds, grain, etc. By going to work carefully and prudently any one may place him- self in an independent financial position, ,no matter how small the beginning rray be. In looking over the quotations in the daily paperS’ you may notice ..a. stock selling at $100, and a month later you may see it quoted at $150 per share. An investment of say $300 with which you could have purchased 100 shares at $100 per share on margin would, after advancingrtoi $150 per share, make you a profit of $5,000, all on an investment of $300;had you bought another 100 shares after each 10-point advance and sold out all at $150 per share, you would have made $15,000 on your original investment of $300. Dur- ing the year 1897, Sugar stock advanced’steadily from 109%‘to 159%, a rise of 50% points. Consoli- dated Gas advanced frorr: 1361/: in January to 241% in September, a rise of 105 points. A pur- chase of 100 shares at 1-10 and 100 shares at. every advance of 10 points would have netted a. profit of something like $55,000if sold out at 240;. this being only an illustration of the f-%ssmult‘es or StOCk. grain and cotton specula- 1 n. , , ' “Fluctuations in the market are like the ebb and- tlde. After a bull marketlike that of 1897, there must come a decline, some excuse ,must an- swer for the decline, either a. ‘War Scare,’ ‘Gold Exports,’ ‘Elections’ or,‘Tariff.’ Any of these may be trumped up to bring about a decline. “The big men in the market, having sold Ollt their stocks at high prices, must use some means of lowering prices in order to buY back their ‘stocks cheaper; then, when they have re- purchased their stock and things look dark and dismal, another bul’: market begins, and if the country in general is prosperous and trade con- ditions are satisfactory prices are carried higher than the top prices of the previous bull market; thus some stocks have already gone higher this year of 1898 than in the bull market of 1897. For instance, New-York Central, Brooklyn Rapid Transit and Chicago, Burling- ton and Quincy. It is only reasonable to as- sume that almost the whole list will sell higher some time during the year 1898' than it did in 1897. When everything looks rosiest will be the time to get out of long stocks, as a bull cam- paign begins in gloom and ends in glory—thebull market in the, spring of 1898 began the day war with Spain was declared. ' ' “Just as much money can be made selling stocks, etc., short for a decline, as to buy them for an advance. 'For instance if a stock is sold at $150 per share, and after it declines to $100 per share is bought in, as much money has-been made on it as in buying it at $100, and selling out at $150 per share." Office facilities for giving every accommoda- tion and information to customers and connec- tion with the different efchanges (Stock, Grain and Cotton) enables the firm of Alfred, J. Eno & Co. to meet the wantsof all traders, whether in large or small operations, on the most liberal and advantageous term 1. The trader with moderate means has every advantage and security offered to larger capital, so far as opportunity for profitable tjading‘ in stocks, grain or cotton. Very many with ample means prefer to avail themselves of facilities offered by this firm for trading in small lots of' stocks and grain, as 'it enables them' to buyer sell on a scale, or to distribute their investment or venture in several different stocks. In this way the customer may secure an interest in two ‘or three markets, one of which may be slow for the day, while the others afford an opportunity for a profitable turn in the marketand keep the trader in good-natured, healthful trading order, ready to take advantage of the next good opportunity; this is half the battle in successful speculation. Inspection is invited of the spacious '93: I 'l! > /2 5‘3 ll 1! - o - >WALL STREET suite of Offices, possessmg every accommodation for clients, who can make the offices their head- Quarters Without feeling under any obligation to become customers. Clients have the free use of all the financial and other papers, and also ‘ of public telephone, and stock, bond, grain, cot- ton and news indicators. Inquirers are invited to call and ask’advice. without doing business, if they desire. , ., The following short rule's for traders, which have been compiled by Alfred _J. Eno &. Co., will be an aid to “success if carefully observed: After extreme weakness buy stocks. Let profits run; limit all losses. Begin to buy when prices _ are dull and weak. Learn to take a loss quickly. When there is much excitement and high prices _ . for everything the market should be sold for a good turn. Jf the trade goes in your favor, follow it down until the last trade goes against you, then close up ,the transaction. After ad- vancing markets, and prices waver, lower prices will come. When prices close weak, without support, ’a rally will be in order next morning. When prices close strong afteran all day's .. advance, the next move is generally downward. When you purchase, “and the’ trade goes in .- your favor, follow it up; but when the LAST pur- chase goes against you, close up the transac- tion and take your profits on all other trades. * . When a profit is made on either side of the market, don't let it disappear, but give a. stop loss order, so as not to have a. loss after a profit ., has been in sight. All orders are good only .for the day given, except “Open" and “Stop Orders," in which ' cases they will be filled unless cancelled. ~ To trade successfully it is not necessary to be.- near the Stock Exchange. Orders can “be” sent by mail and telegraph and by our long distance telephone. Thousands of successful operators make it a point of keeping away fromthe bustle » and excitement of Wall Street, said are enabled to form a more reliable opinion of the. market, as they are not influenced by the many confiict- , ing rumors always in circulation there. , In giving orders to buy or sell, name‘profit de- sired, which may often be obtained the same ' day in active, markets. , When pricesare low, or, there is an advancing , tendency, buy 011 fair concessions. .. ‘_ ' _ .. ‘Whenprices. arehigh, or there is a. declining ,. tendency, sell on rallies. Take profits either way when the market halts ' and gets dull aftera pronounced movement up or down. , , In active markets, an advancing or declining movement will generally run three to four days, when it becomes exhausted, and an-‘opportunity is offered for-imaking a. profitable turn in the opposite direction. A good trader will gather in 11189:»er by, following this general. rule.
Norwalk Chronicler