The Lambertville record. [volume] (Lambertville, N.J.) 1872-1968, 1902-06-25

proNleu Dy PhllDlg, might nave To tell
of the Evening Star. listened in dunn
founded amaZement to the transaction
of 1000 shares and then tumbled over
each other In their efforts to acquire
the same stock.
Now, the floating supply was limited
owned and controlled by Mr.. Wilson,
and it was not very long before there
was no more stock to buy on that ex.
change. BY that time the price had
gone up to 80, however.
Then Hawley, who had gone out.
came back. again In hurry. and. call
Ing out Phllbig told him to buy for
him another 500 shares. Philbig was
sorry, but said he could not do 1t, rs
the local supply was exhausted.
Every WELL" replied the young man,
Il Will send a telegram to my New
York broker. Perhaps there are a few
shares floating about the east" And
on second thought, "Pll send a tele.
gram to Frisco as we'll"
Philbig said nothing of his personal
purchase. He went In and reported
TO his fellow brokers, and Immediately
they pushed each other about and
shouted the price up five points higher.
Hawley sent note to Philbig order.
ing him to quietly unload his 500 shares
Mt the market price OF S5 a share. Phil
big seemed reluctant and, not wishing
to disturb the market by such u sale,
merely transferred Hawley's account
to his own name, a transaction which
netted the young man profit of $50
ON each of his 500 shares.
Naturally such Il furry In the stock
Of the Evening Star became the talk
of the mining circles, and it soon
reached the ears of Mr.. Wilson, who
came down to the Springs In Il hurry
to seek the source of the trouble. He
was a plain miner, after all, and this
sudden rise In the value OF his proper
ty was not according to his orthodox
plans Hawley heard of his coming
and sent to another broker, not Phil
big, and gave him an order TO SELL
600 shares of Evening Star stock short.
This broker borrowed the stock, most
ly from Philblg. and sold 1t short for
delivery later, or course the sale de
pressed the price somewhat but the
800 went of at an average of 80, and
Hawley was very well satisfied.
Mr.. Wilson went into the exchange
and WAS at once surrounded by II
crowd of brokers, who importuned him
to tell them all about the bonanza he
had struck In his mine.
"Bonanzaf cried the old man "Who
says struck bonanzaf"
why, Mr.. Hawley came here after
visiting your mine and
"Hawley! Has he said anything
about
mo. he didn't say anything But
would Il man rush in here and buy
500 shares of an inactive stock unless
he thought 1t was going to mover
"Hawley bought 800 shares of my
stock" exclaimed the old man, with n
twinkle In his eye. ooh, | see And
you nll bit the bait, did you? Well let
me tell you that there amt any bonan-
"a. My mine IL runnin' along regular
Just as It's been dom for years and
Just as 1t will do for years to come.
auW utt WILL WIN NOulo Ia "
thought 1t of him? Bought 900 shares
at 80 and sold out at S. Well, that
nets him over $17,0O0-oh, did he sell
short again at an average Of so, expect
in the price to drop again? Well. sir,
It'll drop, The only reason l don't let
people In my mine Is because l don't
want my machinery copied before
get my patent papers. See? That
Hawley, though-well, blest If l
thought 1t was In him! Smart fellow
that"
The bottom fell out of the boom at
once. The Evening Star stock drop
ped back to so when Hawley covered
his short sale at profit of 80 points
which. added to the $17,500 already
made by him, left him richer by $780,
500.
And for once the gossips were right,
for that, after all, was what settled II
for him and Mary.