The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-05-28

tie click of the ticker-that beating ne:aTt
of the Stock Exchanges IT began the
Unconditional story of what men bought and
sold over on the floor. Its inventor died
in the poorhouse, but capital would fare
badly without his machine. Consolidated
was down three points. The crowd about
the ticker grew absorbed at once. Ke-
ports came in over the telephone Tie
bears had made set for the STOCK. II
| began to slump rapidly. AS the stock
was goaded down, point by poin., the
crowd of traders Waxed more excited.
AS the stock FELL the banks requested
! the brokers to margin up their loans, and
the brokers in turn, requested Percivaf
to margin up his trades. The snares he
had bought outright went to cover the
shortage in those he had bought on q 20
| per cent margin. Loans were called later,
| and marginal accounts wiped out with ap-
palling informality.
| Yet when Consolidated suddenly rail-
| lied three points just at the close ct
! the days trading, he took much comfort
| in it as an omen of the morrow. That
night, however, he took but little satis-
I faction in Uncle Peters renewed assur-
ance of trust in his acumen. Uncle Peter
he decided all at once, was fatuous, dod-
dering old man, unable to realize that the
whole fortune was grave1y endangered.
| And with the gamblers inveterate hope
| that luck must change he forebore to I'M
deceive the old man.
i Uncle Peter went with him to the office
next morning, serenely interested in the
| prospects.
You got your pas way of taking hold
/ Of big propositions. That's all need to
4 know" he treasured the young man
cheerfully.
/ Consolidated Copper opened that day at
i Is, and went by 2 o'clock to 81.
Percival watched the decline with a con-
I viction that he was dreaming. He laughed
to think of his relief when he should
awaken. The crowd surged about the
ticker, and their voices came as from
4 afar. Their acts all had the wierd incon-
sequence Of the people we see in dreams.
Yet presently it had gone too far to be
4 amusing. He must arouse himself and
4 turn over on his side. In five minutes,
cording to the dream, he had lost five
million dollars as nearly as he could call
culate. Losing a million a minute, even
in sleep, he thought, was disquieting.
Then upon the tape he read another
chapter of disaster. Western Trolley had
! gone into the hands of a receiver fine,
, fat promising stock ruined without a word
of warming; and while he tried to master
, | this news the horrible clicking thing de-
clared that Union Cordage was selling
down to 58-a drop of exactly 35 points
since morning.
Fouts, with a slip of paper in his hand.
! beckoned him from the door of his priv
ate office. He went dazedly in to him
he had been losing fortune in his sleep.
Coming out after a few minutes, he
> went up to Uncle Peter, who had been sit
= ting, watchful but unconcerned in one OF
the arm chairs along the wall. The old
: man looked up inquiringly.
Come inside, Uncle Peter!''
: They went into the private office Of
! Forts. Percival shut the door, and they
, were alone.
Uncle Peter, Burmans been suspended
$50 &c I,o5 -
) over his private wire. Corn broke today. -
! "That so? Oh, maybe it was worth 4
: couple of million to find out Bur1nan plays
: corn like he plays poker: twas if you
: couldn't get it fur any less
"Uucle Peter, were wiped OUT
tHow, wiped out? What do you mean.
! sm?''
: Were done, I tell you. We needn't
= care damn now where copper goes to-.
\ We're out of it-and-Uncle Peter, we're
: broke
"out of copper? Broke? But you
$ said
e He seemed to be making an effort to
, comprehend. His lack of grasp was pitt
:. full
n "out of copper, but there's that Western
, Trolley and that Cordage stock
y y Everything wiped out, I tell you
y Union Cordage gone down thirty-five
:, points, somebody let out the inside
= secrets-and God only knows how far
= Western Trolley's gone down.
"Are you all in? ''
Every dollar, you know that. But
. say" he frightened out of his despair,
- there's the One Girl-a good producer
y Shepler knows the property-Shepler's In
! this block" and he was gone.
The old man strolled out into the trad
II ing-room again. A curious grim smile
Y softened his square jaw for a moment.
II He resumed his comfortable chair and
II took up a newspaper. glancing incidentally
d at the crowd of excited men about the
d tickers. He had about him that air of re-
e pose which comes to big men who have
d stayed much In big out-of-d door solitudes.
: Amt he a nervy old guy? said a
crisp little money broker to Foufs.
e They're wiped out, but you wouldn't
: think he cared any more about it than
5, Mike the porter with his brass polish out
e there .55ss
o Percival rushed in by him, beckoning
him to the inner room.
It .'shepler's all right about the One Girl.
a He'll take a mortgage on it for $200.D00
e If you'll recommend it--only he can't get
Il the money before. tomorrow. There's
bound to be a rally in this stock, and
- we'll go right back for some of the hair
:, Of the-why,-what' the matter-Uncle
- Peter!''
:. The old man had reeled, and then weak
ly caught at the top of the desk with both
hands for support.
ITO be continued Tomorrow.
50 TO FIND xERxES' FLEET.