A WONDERFUL STROKE OF BUSINESS
A gentleman in Auckland (says the Herald) has received a letter from a relative in England giving an account of a clever and daring business-stroke. The' writer, who dates from Liverpool, says ;- " We have great excitement in the cotton market. 'A Gorman Jew, called Raugor, bought, some months ago, all the cotton in the United States that was likely to reach this port in October. Ho then went about in Liverpool, bvying all.the cotton to arrive from the local brokers. They sell cotton that bas no existence if they think it a gi od"s[ieoiilati«n, trusting to huy in a lower market, and .so hundreds and thousands of bales are sold daily that have no existence. Mr Ranger bought from all who would sell, with the promUo that the delivery would take p'ace in October. When October came, and the cargoes began to arrive from America, the brokers found that they could not make purchases, that the cargoci rae-disposed-of, and were not for a ile. Mr Ranger then called upon the mikera to fullil their ooutract to him, failing whioh, he would execute the pen ■%. tor non-deliyery. They found that no one had cotton except Mr Banger, and t iey were obliged to go to him to buy in order to sell to him again. The delivery under these contracts was to take place before noon on 31st October. During the last days in October the excitement was
teryQc, and the Exchange on the last day sthe month was a little Babel itself. A place about the size of the Albert Barrack Square was filled with a clamorous, excised multitude, shouting : and halloing at thetop of their voices, just like the mob on. he Derby Day, whence horses are t nT r ?. und corner, in all this whirlpool-efexciteniQnt Mr 5fE as s? oalmas '*• ■ He'clears 4150)000.- Ho is a short,' thickset man oMB, withahrm, determined ohin, not ia. happy:fa C e.: He has the telegraph wire | alongside his bod, from which hecansend j messages and news all over the world"
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/WDT18800218.2.6
Bibliographic details
Wairarapa Daily Times, Volume 2, Issue 392, 18 February 1880, Page 2
Word Count
343A WONDERFUL STROKE OF BUSINESS Wairarapa Daily Times, Volume 2, Issue 392, 18 February 1880, Page 2
Using This Item
No known copyright (New Zealand)
To the best of the National Library of New Zealand’s knowledge, under New Zealand law, there is no copyright in this item in New Zealand.
You can copy this item, share it, and post it on a blog or website. It can be modified, remixed and built upon. It can be used commercially. If reproducing this item, it is helpful to include the source.
For further information please refer to the Copyright guide.
Log in