A GERMAN’S LUCKY PENNY.

Thames Star, Volume LXIII, Issue 17528, 17 January 1929, Page 6

A GERMAN’S LUCKY PENNY.

The increase in the value of Canadian lands ha.s been enormous. A British army ofiicer travelled to Calgary in the year 1887 with the then president oi' the Canadian Pacific Railway. Noticing a beautiful site near the Row River, several miles .from Calgary, he bought nearly three square mites, paying ha*!i-a-dtolJar (2s) an acre. Thirty-five years later that land was being sold at £225 an acre. ' Truly, the Golden West, Some extraordinary cases of sudden fortunes were provided by the recent Florida land boom. A Tampa newsboy named T. P. Davis saved £2O, and, gambling with it in real estate at Miami, turned it into £20,000. He then bought an island in Tam|pa Hay, added to its area by dredging, built a bridge connecting it with the mainland, and «o|ld out for £3,6(10,000. . But land is not the only foundation for fortune, Mr. Abraham White, oi New York, holds what is probably thq world’s record by making £30,000 for the expenditure-of a penny stamp. The United States Government asked for tenders for a large issue of bonds, no dejposit being required. Mr. \\ lute, then a clerk in a stockbroker’s office in New Ylork, made a tender for a part of these bonds. His bid' was accepted, and next day he disposed of the bonds allotted to him in Wall Street at a profit of £30,000. He then formed the Abraham White Bond' Company, and more recently bid for the whole of the new issue of £8,000,000 >of New York City bolids.' It wj(s another smart American, .Marcus J, Watennan, who bought 6500 shares of Chicago and Great Western Stock for 2s a share. A week later the shares stood at 225, and Mr. Waterman sold his £650 purchase for £7150.