Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1890-01-03

money, AMI what would be a share Q! 't.,s
forty or fifty thousand Il year that Tram!ay
might make in a business which, after all,
could have but the small margin Of profit
which active competition would allowi There
we're rich families toward whose daughters
he had not previously dared to raise his eyes.
for their heads would have demanded fuller
financial 1hibi. than he cared to make on the
basis Of tie fyg thousan Is Of dollars which
&c hal invested in profitable tenement house
property. AS large holder of f. G. ".
his position would be different; for were not
the heads of these various families operating
in E. &. ". themselvesi
Little by little he lessened his attentions tc
Lucia, and his visits TO the house became
fewer. To Phil, who did not know the cause,
the result was quickly visible. and delight
full as well The only disquieting effect was
that Mrs. TraInlay's manner perceptibly
changed to an undesirable degree. That pru-
dent lady continued to inform her husband
that there seemed to be no movement In Hayn-
ton Bay villa plots, and that the persistency
of the young man from the country seemed
to have the effect of discouraging Mr.. Marse,
who really had some financial standing.
The change in Marge's manner was per.
ceptible throughout the Tramlay family.
Even Margie experienced a sense Of relief.
and she said one evening to Lucia:
Isn't it lovely that your old beau Is sc
busy in Wall street nowadaysf He doesn't
come here half as much as he used to, and
don't have to he bored by him while you're
talking to Phil You ought to fit up room
especially for me in your new house, Lu, fo
I've endured n dreadful lot for your sake"
You silly child" Lucia replied; "yoa
might catch Mr. Marge yourself if you liked
Mamma seems to want to have him in the
family
Thank you for the it," Margis retorted,
but don't care for a husband almost old
enough to be my grandfather. after being
accustomed to seeing q real nice, handsome
young man about the house."
HE has money" said Lucia, land that is
what most girls are dying to marry. Papa
says he is making fortune il no is as deep
in the market as some folks say"
Il hope he is" said Margie "He ought to
have something besides wooden face and
bald head, and the same set Of speeches and
manners for all occasions What splendid
sphinx he would make, or an old monument
May be he isn't quite antique enough, but for
vivacity he isn't any more remarkable than
stone statue Just think Of what Phil has
saved US fromr
And still E. & W. went up. The discovery
of valuable mineral deposits on. the line Of
one Of its branches sent the stock flying up
several points in single day, and soon after
ward diversion Of some large grain ship
ments from parallel line helped It still fur
Their. That tho grain was carried at a loss
did not trouble any one-probably because
only the directors knew it, and 1t was not
their business to make such facts public. And
with each rise Of the stock Marge sold out, 60
as to have a larger margin with which to
operate
At the first Of the year E. & W. declared
dividend so large, for a security that had
been far below par, that even prudent In
vestors began to crowd to the street and buy
the stock to put into their safea The effect
OF this was to send shares up 20 rapidly and
steadily that Marge had difficulty in repur
chasing at the price at which he sold; but he
did 30 well that more than DIX thousand
shares now stood In his name on the books Of
bis broker
Six thousand shares represented about half
million dollars at the price which E & W.
commanded. Marse admitted to himself that
1t did not mean so much to him, for he had
MOI single certificate in his pocket or any
where elsa But what were stock certificates
to man who operated on a margini They
were good enough for widows and orphans
and other people incapable or unwilling to
watch the market. and who were satisfied to
draw annually whatever dividends might
chance to be declared To Narge the stock
as 1t appeared on his brokers books signified
that he had cleared nearly fifty thousand |
dOlIara within fxxO r,,outho ouI all <ti.
money was reinvested-on margin-in tho |
same stock. with the probability OF doubling
itself every month, until E. & w. should |
60 quite a way beyond par. Were it to |
creep up only 5 per cont q month"; had
been doing more than twice as well-he could |
figure up q cool million Of gain before the |
summer dullness should strike the market |
Then be would sell out, run over to Europe
and take rest; he felt that he would have
earned 1t by that time
OF course there was no danger that E.& W
would 60 down Smart, who, in the par.
lance Of the street, was ''taking care Of it,
had publicly said, again and again, that 3. |
& W. would reach $50 before summer; and, |
although Smart wns one Of tho younger men |
In the street, be bad engineered two or three |
other things In . manner which had made |
older operators open thcir eyes and check
bookA Smarts very name seemed to breed
luck, his prophecies about other movements
had been fulfilled, he evidently had his own
fortune largely invested In E. & w., 70
what more could any operator askl Even
now tho stock was hard to get: investors who
wanted smallquantities had generally to bid |
above tho market quotations; and even when |
. large block changed hands it depressed quo
tations only fraction, which would be more |
than recovered within twenty-four hours
Marges margin was large enough to protect |
him against loss, even should q temporary |
panic strike tho market and depress cvery |
thing by sympathy; indeed, some conserva-
tive brokers told Marge that be could safely |
carry the stock on a much smaller margin.
Better men have had their heads turned by |
less success, and forgotten not only tender !
sentiments but tender VOWS; 50 it Is no won I
der that, as his financial standing improved |
daily, Marges interest in Lucia weakened |
The countryrlan might have her; there was |
a. good fish in the sea as that be had hoped |
to catch-not only as good. but great deal
better. He would not break old friendships,
he really esteemed fire rraniays, but--friend-
ship was u nsor enough relationship
To no o.,nt;cvol