The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1892-06-10
A SPECULATION.

bankers Of ,000 or securities IN YOU
| own name to that value"
"But, Mr.. Seymour, where do you
think | am to get 60, 900 from in less
than a month? Nellie and l are botf
young and can afford to wait for better
| times. l am confidential clerk to one OF
the best firms Of stockholders, and have
every reason to believe l shall one day
become a partner. My salary from
them is $3.50, and my old uncle allows
me e100 a year and looks upon me as his
heir. What more can you want?"
sit is of no use prolonging the dis
cussion, Mr.. BARLEY. 1t is for your own
sakes do this. When my daughter mar,
ries | shall settle 10000 upon her, and
[ think her husband ought to have al
least $4,000. If, as l said before, you
have that sum by the 1st Of April next
[ will sanction your engagement. Ii
not, shall use every means in my power
to bring about her marriage with Cap
tain Tredegar, and IN the meantime
shall send her off to my sister in Scot
land out of your way"
With these words he touched the bell
thus intimating that the interview was
at an end.
Mr.. Seymour was chief partner in the
firm of Seymour, Giveless q Co., stock
brokers, and was reported to be worth a
million, but there were city men who
whispered that he was in rather shaky
state just now owing to heavy specula-
tiOns on his own account, and that he
would probably be in want of a few
thousands before the next settling day.
When l left Mr.. Saymour's Office in
| Victoria street l wandered about for
two hours, hardly knowing where | was
| going. | was unable to concentrate my
thoughts upon anything definite. All |
| could think about was $4,000. Every
! thing around me seemed to say the same
thing. The very sound of the wheels of
| the omnibuseS and cabs seemed TO sug-
gest, ''e5 900, or Nellie is lost" / felt
that must have the money if l commit
| ted crime to obtain it.
At last | called a cab and drove to my
| chambers. When l was seated in an
easy chair by the side Of bright fire,
with my pipe in full swing, l tried to
think the matter over calmly. The only
hope I could think of was my Uncle
John, but it was like depending on a
| broken reed, indeed. He had always
cautioned Inc against getting married at
| all, and pointed to himself with pride as
one who had had next to nothing to do
with women all his life; but before l
went to bed had made up my mind to
run down to Ethan on the morrow and
see him.
wrote a note to the Office saying that
l felt rather indisposed that evening
(Which was quite true) and should prob
ably not be in the city in the morning.
Next morning, after restless night,
the chance of my uncle acceding to my
request seemed smaller than ever, but
there was no other hope, and must face
him and make the best Of it. At break
fast | took up the paper as was my
wont, and glanced down the money arti-
Gle. Suddenly an idea flashed across my
mind. Being on the Stock exchange |
knew that fortunes were made and lost
every month; why shouldn't | try and
make $4,000 by specializing in some
stock? The more l thought of it the bet
ter liked it.
Of course l knew 1t was risky: |
couldn't do it in my own name without
1t coming to the knowledge of my firm,
and they wouldn't tolerate that sort of
thing for a moment, and whatever plan
/ adopted knew if things didn't go as |
wished | should be ruined. But life
without Nellie wasn't worth living, and
Unjust have her at any cost.
The first thing to decide was the best
stock in which to speculate. The mar
kets We're very quiet just now, with Il
exception of the South African Mimi
market, in which there had been lately
quite boom"
One company in particular had caused
great sensation. This was the Great
Cumberland Diamond mines, whose ten
pound shares were quoted at twenty-five
pounds. The company was supposed to
have a most valuable property in south
Africa, and although only started six
months previously had already paid a
dividend of 20 Per cent. and the future
dividends Were expected TO be as high as
80 or 81 per cent. That they had paid
the 20 per cent. dividend was quite true,
rs | had received that on the few shares
l held myself: but whether it was paid
out of the profits or otherwise l did not
know.
What did know was that if any ad-
verse report of the mine came over the
price of the shares would inevitably
drop quicker than il had risen. | there
fore determined 10 confine my opera
tons 10 Great Cumberland. OF course
1t would be sheer speculation, and there
are people who say this Is no better than
robbery, and although | can't say quite
agree with them. don't in any degree
uphold the practice. It is one of the
greatest evils OF the age. but in NV case
] felt the end would Justify the means.
But how was L, alone and unalded. 10
affect the market:
What / wanted was some startling IN
formation, damaging to the prospects Of
the mine. to be communicated 10 the
London financial papers. Any one Woo
knows anything about Stock exchange
business knows tharin sone stocks the
most trivial telegram VIII Immediately
cause a rise or fall of several points. !
had fixed upon the great Cumberland
company because knew the shares Were
held principally by dealers and specu-
lators and not by the outside public.
Ny conscience thus was easier.