Gloucester County Democrat. (Woodbury, N.J.) 1878-1932, 1884-08-21

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
knowledge which is only bought by
experience, and that is usually paid for
in cashI
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 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 many at their s'face value''
that is, five cents.
This fact was what Wyx had depended
upon nobody's knowing; but it hap
pened that Jordan did know it, and
sometimes very simple bit of knowl-
edge, speedily acted upon, is worth a
great deal, as it proved in this case, for
Mr.. Jordan succeeded in obtaining the
five dollars worth, which be lent to his
enterprising son.
Well, Wyx appeared at school next
morning, his pockets just bulging with
nickels. He had no less than two hun
dred and seventy-fye Of them for sale at
a 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.
The nickel market up to this time had
been one-sided affair; but now it was
divided between the sfbulls" and the
'sbears."
You know it is the habit of a bull to
toes everything into the air which he at
tacks-to raise it; while on the other
hand, bear pulls things down and gets
underfoot whatever he wishes to obtain
or destroy. From this has arisen the
habit among dealers in money, and what
are called securities" documents sup
posed to secure certain amount of
wealth to their possessors), of calling
man who would ike to have the price of
an article increase, in order that he may
sell to better advantage, bulln; and
of calling him ssbear'' who tries to
lower prices, in order that he may buy
more cheaply.
Now, Wyx, of course, was "bull"
on the nickelsin this school market, for
naturally he wanted to keep the price as
high as possible. Jordan, on the con-
trary, was "bear," pulling the price
down with all his might to favor scheme
of his own, as we shall see. Thus he Of
fered his coins at nine cents, and Wyx
found his corner ssbusted.~
IT can't stand this" he exclaimed, in
dismay, I'll sell at eight
"Seven!' shouted Jordan, dropping
his price another notch as quick as
fash.
Six p cried the "bull.n
Wyx was out of all patience, that
fellow should turn up in this way to ruin
his business. To be really like the great
railway and telegraph managers, what
the rival speculators should have done
at this point was to go off into corner
and agree between themselves that both
would stick to the ten-cent price Then,
if not enough buyers appeared 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
"poolng the profits" But they didn't
do it.
Jordan thought he knew trick worth
two of that, and showed himself true
fnancier.
When we left them, you will remem>
Der, in order to undersell the pestiferous
Jordan, Wyx had offered his coins at
six cents each Quick as wink Jordan
spun round and shouted: "PIl take all
you've gotp
Imagine the astonishment and disgust
of the outwitted Wyx, who, as city men
would say, had been caught out in a
shower without an umbrellal
But there was no way out of 1T. He
had made public offer and it had been
taken up. He had to stand by it and
sell out, however much he disliked the
bargain.
By borrowing and scraping, Jordan
got together the $16.5o needed to pay
for his 275 nickels, which he then pro-
ceeded to sell in small lots at ten cents.
clearing four cents on each one by his
quick wit, while the first speculator got
little or no profit out of his supposed
corner"
The boys bought, but it was with wry
faces, for they remembered they had not
been sharp enough to take Wyx's offer OF
six before Jordan captured the whole lot.
They aptly represented the outsiders who
speculate in Wall street, and whom the
brokers laughingly call 'slambs. " because
it is their fate to be 'sdeeced. .n-Meu
York Hour.
BottIing lars