Orange County observer. [volume] (Hillsborough, N.C.) 1880-1918, 1884-10-18

The boys began to be sorry that thew
Lad been 50 hasty during the previous
/ fen days in letting Wyx have their half
Ion 4 ~ So each, al only a cent or two
advance, and having grown excited over
/! !e was tie Salie had risen, were now
| mite wiling t. buy their coins all back
It the advanced rate, and lot more be-
j: -.dts, hclltynC incv would go still
Ql4s. 1t therefore looked sure that
Master Nyx was to make great deal Of
money. Certainly that is The way he
regarded it, and he strutted about with
his hat tipped on the back OF his head in
the most approved Stock Exchange
swagger
In these operations let me say, both
the seller and the buyers were taking
the right course. Acting on his belief
that the coins would become worth
more a few days hence than they then
were, Wyx had shown good sense in Sc
curing all he could honestly get and pay
for. Now, as a matter of fact, and as
Wyx foresaw would happen, they had
risen, and were really saleable to collec-
tors down town at ten cents, and some
! times for more. The other boys were
| quite right, therefore, in buying them
back at that higher rate, and might
charge the difference which they had
lost to the account of acquiring knowl-
edge-which is only bought by expert
ence, and that is usually paid for in
cash
Now, among the boys at that school
was Jordan. Morning and evening he
peddled newspapers, and had grown
sharp. He learned when he went home
that afternoon that his father was Just
going to a bank to receive some money.
Seeing his opportunity, the lad begged
his father to take five dollars Of the pay
ment in the new nickels. These he could
get by asking for them (provided the
bank had SO manyA at their "face value"
that is, five cents.
This fact was what Wyx had depended
upon nobody''s knowing; but it happened
that Jordan did know it, and sometimes
very simple bit acknowledge, speedily
acted upon, is worth a great deal, as it
proved in this case, for Mr. Jordan sue
ceeded in obtaining the five dollars
worth which he lent to his enterprising
son.
Well, Wy1 appeared at school next
morning, his pockets just bulging with
nickels. He had no less than two hun
dred and seventy-iv of them for sale at
dime apiece. Before he had disposed
of dozen, however, Jordan came on the
play ground, and, showing handful OF
the coveted coins, Immediately offered
them at nine cents.
i The nickel market up to this time had
I been one-sided affair; but now it was
divided between the bulls and the
bears"
Yon know it is the habit of bull to
toss everything into the air which he
attacks-to raise it; while, on the other
hand, a bear pulls things down and gets
under foot whatever he wishes to obtain
or destroy From this has arisen the
habit among dealers III money. and what
are called securities" documents sup
posed to secure certain amount OF
wealth 10 their possessors), Of calling
man who would like to have the price
OF an article increase. in order that he
NAV sell 10 better advantage, bull /;
ana of calling him a "bear' who tries
to lower prices. in order that he may
buy more cheaply.
Now, Wvx. Of course, was ''bulI'
on the pichels III this school market, for
naturally he wanted to keep the price
As high as possible. Jordan, on the
contrary. was a "bear." pulling the
price down with all his might TO favor a
scheme OF his own, as we shall see.
Thus he offered his coins st nine cents,
aud Wyx found his corner busted
Il can't stand this" he exclaimed, in
dismay, ''IIl sell at eight"
Seven - shouted Jordan. dropping
his prlce another notch as quick as a
flash.
''Six Z. cried the bull
Wyx was ont of all patience, that a
fellow should turn mp in this way to ruin
his business. To he really like the
great railway and telegraph managers,
what the rival spectators should have
done at this point was to go Of into a
corner and agree between themselves
that both would stick TO the ten-cen'
price. Then, if not enough buyers ap-
peared to take all the nickels held by
both, they would, at the end OF the
sale, divide what they had made.
This would be combination" and
pooling the profits. But they didn''
DO it. #
Jordan thought he knew trick worth
two of that, and showed himself true
.inancier.
When we left them, you viii renen
ber, in order to undersell the pessiferou'