Stock market 1883 – winners either way – Is it different today?

HOW IT PAYS

(Excerpt from The Shelby Chronicle, Columbiana, Alabama, Nov. 22, 1883)

A correspondent of the Washington Capitalsays: “A Wall street broker friend of mine says his firm are borrowing all the money they want at two per cent a year, and charging customers six per cent, for the use of it.

“We cleared $15,000 on interest alone in the month of August,” said my friend.” When our customers order us to buy certain shares of stock for them they put up ten per cent of the total investment, and that makes us responsible for ninety per cent. If the stock is left idle on our hands for any length of time we charge interest on that ninety per cent. So, you see, if the market is lively the profit lies in the commissions; if the market is dull it is in the interest. In either case we come out ahead.”

Tapestry of Love: Three Books In One


About Donna R Causey

Donna R. Causey, resident of Alabama, was a teacher in the public school system for twenty years. When she retired, Donna found time to focus on her lifetime passion for historical writing. She cohost the Podcast: Alabama Grist Mill and developed the websites www.alabamapioneers and www.daysgoneby.me

All her books can be purchased at Amazon.com and Barnes & Noble.

She has authored numerous genealogy books.
RIBBON OF LOVE: A Novel Of Colonial America (TAPESTRY OF LOVE)
is her first novel in the Tapestry of Love about her family where she uses actual characters, facts, dates and places to create a story about life as it might have happened in colonial Virginia. Faith and Courage: Tapestry of Love (Volume 2)
is the second book and the third FreeHearts: A Novel of Colonial America (Book 3 in the Tapestry of Love Series)
Discordance: The Cottinghams (Volume 1)
is the continuation of the story. .

For a complete list of books, visit Donna R Causey

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