Ottumwa semi-weekly courier. [volume] (Ottumwa, Iowa) 1899-1903, 1903-02-03
CHAPTER ".
SOME STRANGE HAPPENINGS.

but never missed an examination of
the tape as it escaped from the
chattering ticker, by an interval ex-
ceeding half minute. AS the hour
of two approached, the little machine
became furious in its efforts to keep
pace with the operations of the
sweating, swearing and struggling
brokers, two blocks away. Mr.. Kent
let the tape slide through his fingers
and read record which translated
was as follows: 5000 shares Sugar
149R-2,200 Sugar 149-4,0OO Sugar
14SA-7oo B. & o. 1o7A-1,1oO B. & o.
LOT $500 j. & o. 106B-5oo B. & o.
106-3,200 ST. Paul 171-4,OOO st. Paul
A7O1e-500 ST. Paul 100000 St. Paul
169A-1 400 Metropolitan 173A-90O
Metropolitan 172h-1,6oo Metropolis
tan 1717s-4,o 900 Jersey Central 1914
800 Jersey Central 15s5s-1,7O Jer-
sey Central 1876 Jersey Central
1882, 4oo Sugar 147A-soO Sugar
lat.
Mr.. Kent stepped to his private
telephone.
"Who is selling that Sugar?" he
asked his broker.
"Street & Rogers are selling most
of it now. Brokers for Morris g.
Hauser of Boston, and Wright & Fan
ming of Chicago have also been SELL
ing it. These houses have been sell
ing St. Paul, Jersey Central, Balti-
more & Ohio, Metropolitan, Steel and
Iron and other Stocks" was the
prompt answer. 81 advised the Office
of it some time ago.
"Who is the selling for?"
"No one seems to know"
s'What do Ravens brokers say?"
''They seem to be up in the air.
They are still buying Sugar"
'All right. Goodbye"
Mr.. Kent called up Mr.. Haven, the
great sugar magnate.
"What in the devil is the matter
with your Sugar stocll?" he demand
ed.
81 don't know" was the response.
"It's all right. am buying it as fast
as it is offered. What is it now?"
Mr.. Kent examined the tape.
"One hundred and forty-eight and
q quarter" he replied. ut has been
down to 1461a but has recovered
some. Who is doing that selling?"
Sure / don't know" answered Mr..
Haven with some Impotence. "Prob-
ably some one taking profits. 1t will
go up again"
'All right. Thank you. Goodbye"
Mr.. Kent studied the tape for
few moments. The market was
slowly steadying. The public was
obeying the mandate, "buy on every
reaction" Mr.. Kent pondered deep
ly. He rang a bell.
How much Sugar have bought?"
he demanded of his private book
keeper.
"Forty-three thousand shares"
was the reply.
ut will average about 142, will it
not?"
The bookkeeper produced slip of
paper, ran his eye over the figures,
made rapid calculation, and said
that the average price paid for this
line of Sugar stock was 1425a.
'sVery well; that is ALL" Mr.. Kent
said.
He called up his broker who rep
resented him on the floor of the
Stock Exchange.
'Sell all the Sugar you can with
out breaking the Market" he COM
manded in voice that could not be
heard ten feet away. Wall Street is
all ears. There is good buying just
now. Begin on 500 share lots. Feel
them out at the start, but keep busy.
Sell at least $4,000 shares before you
close, no matter what happens. When
you have sold 10000 shares, offer it
in 1000, 1000 and 5000 lots.
The broker repeated the order
quickly SO as there could be no mis-
take. Mr.. Kent returned to the
ticker.
! Some one taking profits, eh?"
muttered Mr.. Kent as he paced the
floor, nervously chewing the end of
an unlighted cigar. "I'll show them
how to take profits! They must
think / am in my second childhood.
They have an idea am going to
hold the bag, do they? This is the
way they keep their agreement" He
rang the bell furiously.
How much B. & O. have II"
Fifteen thousand shares at an
average of 49, was the reply.
''Wire Brown & Addy of Boston,
to sell me 10000 b. & o. at the mar
ket. Send word to Blake & Co. of
Chicago, to sell me $4,000 ST. Paul at
the market. Rush. hurry!"
He was att the private telephone
again.
How much Sugar have you sold?"
twenty-five thousand. 1t has
broken point and half"
THAT'S all right. Put it out in
1000 and 1000 lots. Sell me 10000
shares of Metropolitan at the mar
ket. Got it? That's right. Goodl
bye"
The ticker was singing like a sew
ing machine. Sugar, B. & o., st.
Paul, Jersey Central, Metropolitan,
Steel and Iron and other stocks came
out in blocks of from 1000 to 1000
and even 5000 lots. But the market
held remarkably well. There was
mot cloud in the sky" and the pub