The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1901-02-03
McCLURE'S.
The Woman and Her Bonds. A
Story of Wall Street.

Story of Wall Street.
He said 10 her, mildly: 81 thought that
had explained all that TO you 1t might
hurt a weak Spectator if the bonds de-
clined ten points. though such a decline
is utterly improbable. But it won't affect
Nou In the slightest, since. having an ample
margin. you would not be forced 10 sell
You would simply hold on until the price
rCse again. Let me illustrate. Surprising
your house cost $4,000. and
Harry paid sss.90.', she said. correcting
il. on second thought she smiled. in order
10 let him see that she knew her interpola-
ton was irrelevant. But he might as well
know the actual cost.
Very we'll" he said, ~good-humoredly.
"wen say 5000. which was also the price
OF every other house in that block. And
suppose that. owing to some accident. or for
any reason whatever. nobody could be
found to pay more than $4,000 for one
OF the houses, and three or four Of your
neighbors sold theirs at that price. But you
4 wouldn't. because you knew that in the
fan, when everybody came hack to town.
you would find plenty of people who'd give
you So.ooo for your house,: you wouldn't
sell it for 25.90. ard you wouldn't worry.
Would you, now?' he finished. cheerfully.
NO" she said slowly. "I wouldn't worry.
Eut," hesitatingly, for. after all, she felt
TIE awkwardness of her position. II wish
] had the money instead of the bonds" And
she added. self-defensively: 81 haven't
slept a wink for three nights thinking about
this"
The thought Of his coming emancipation
cheered Mr.. Colwel immensely. Your wish
shall be gratiied. Mrs. Hunt. Why didn't
you ask me before. If you felt that way"
he said. in mild reproach. And he sum-
moned a clerk.
Make out a check for $4,000 payable
to Mrs. Rose Hunt. and transfer the 100
Manhattan Electric Light 1ves to my per-
sonal account"
He gave her the check and told her:
Here Is the money. 1 am very sorry chat
I unwittingly caused You some anxiety. But
airs well that ends well Any time that 1
can be Of service to you-Not at all. Don't
thank me. please; no. Good morning."
But he did not tell her that by taking
over her account he paid $4,000 for bonds
he could have bought in the open market
for $4,000. He was the politest man in
I Wall street; and. after all, he had known
Hunt many years.
A week later Manhattan Electric 5-per-
cent bonds sold at IS again. Mrs. Hunt
called on him. 1t was noon, and she evil
IDENTIFY had spent the morning mastering up
courage for the visit. They greeted one
another. she embarrassed and he courteous
and kindly, as usual.
Mr.. Colwell. you stfl have those bonds,
haven't your"
why. yes"
IL think I'd like to take them back.
HOW RARE
PATIENCE WAS ABUSED.
Certainly, Mrs. Hunt. I'll find out how
much they are selling for. He
a clerk to get a quotation on Manhattan |
Electric bs-.The clerk ~telephoned to one |
OF their bond specialists and learned that |
the bonds could be bought at sssk. He re- !
ported to Mr.. Colwell. and Mr.. ColweIl told i
Mrs. Hunt, adding: $50 you see they are |
practically where they were when you
bought them before" |
She hesitated. "T-I-didn't YOU buy |
them from me at 90? I'd like to buy them
back at the same price I sold them to you"
Nc Mrs. Hunt" he said; II bought |
them from you at es."
But the price was g." And she added, |
corroboratively: Don't you remember it
was in all the papers?"
Yes. but I gave you back exactly the
same amount that I received from you, and
/ had the bonds transferred to my account.
They stand on our books as having cost ma
es."
But couldn't you let me have them at
9?' she persisted.
I'm very sorry, Mrs. Hunt, but I don't
see how I could. II you buy them In the
open market now. you will be in exactly
the same position as before you sold them.
and you will make a great deal of money.
because they are going up now. Let me
buy them for you at ssiz.
"At 50. you mean" with a tentative smile.
AT whatever price they MAJ be selling
for" he corrected. patiently.
why did you let me sell them. Mr.. Col
well?" she asked, plaintively.
But. my dear madam, IL you buy them
now you will be no worse off than IL you
had kept the original lot"
well, I don't see why 1t is that I have
to pay sslz now for the very same bonds 1
sold last Tuesday at 80. II ii was some
other bonds" she added, IL wouldn't mind
so much"
MY dear Mrs. Hunt. 1t makes no diff
ference which bonds you hold. They have
ali risen in price. yours and mine and every
body's; your lot was the same as any other
lot. You see that. don't your"
"Ye-es; but"
well. then, you are exactly where you
were before you bought any. You've lost
nothing, because you received your money
back intact"
TN willing to buy them she said res
Eat 49,
CDnA IIDDVNrnTTsS |