LUCK WAS WITH HIM.

Star (Christchurch), Issue 7267, 30 November 1901, Page 4

LUCK WAS WITH HIM.

A STOCK EXCHANGE ANECDOTE. Stock Exchange members have been very much amused by the iiivt experience of a young broker on the floor (says the " New York Sun"). He tried law and real estate and insurance- without marked success. His friends advised him to put all his money into a Stock Exchange seat, and trust to executing orders for other brokers for his income. He acted 1 on this advice and spent otic w«k after securing his seat in. studying the operations of other brokers. Then ho announced that be was ready tfor business, and when a broker telephoned to him for his first order to buy 5000 shares of a certain stock he executed it with enthusiasm, and credited himself with lOOdol commission. Ringing up the- purchaser, he said: — "I secured 5000 of that stock." '■ Five thousand ! Great Scott ! I ordered 1000 shares. You can keep the other 4000 for yourself." The young broker hung up his telephoneand hurried to tell his story to an experienced friend on the floor. " I seem to have dished myself on 'the first throw out of the- box," he said, " and) I can't possibly take care of 4000 shares of stock." "What was the stock?" asked his friend. The young broker named it and the price at which he bought it. "You are all right,"' said his friend. "It is up two points now and jumping fast. Hang on to it till I tell you to sell." His stock happened 1 to be the feature of the market that day, and when, shortly before three o'clock, the young broker closed out his 4000 shares and figured out his profits, he found that his mistake- had profited him jusb £8000. He has invested this money, and he vows that he will never speculate again except on mistakes.