The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1903-02-01

Il shouldn't like TO lose the little /
have she said hastily.
ooh, there is no danger of that. IL
you will give me a check for $35,OO0, ieaV-
ing $4,000 with the trust company ior
emergencies. I shall buy some bonds
which / feel reasonably certain Will al
vance in price within a few months
"Ticky- ticky- ticky- ticky!" interrupted
the ticker In some ineXplicable way IT
seemed to him that the brassy sound had
an ominous ring, so he added: But you
will have to let me know promptly, Mrs.
| Hunt The stock market you see, waits
for none, not even for your sex
"Gracious me. Must / take the money
out of the bank today and bring it to
your"
"A check will do" He began to drum
on the desk nervously with his fingers,
but ceased abruptly as he became aware
of it.
VERY well I'll send it to you today.
know you're very busy, so | won't keep
you any longer. And you'll buy good,
| cheap bond for me?"
Eyes, Mrs. Hunt
Mr.. Colwell?'
NOno Whatever. you nave no ueeu W
fear about them
Its exceedingly kind of you, Mr. Col
well. l am more grateful than / can say.
IL
THE way to please me is not mention
it, Mrs, Hunt.
Thanks ever so much. Good morning,
Mr.. Colwell."
Good morning, Mrs. Hunt. Remember
whenever l may be of service you are to
let me know Immediately"
Mrs Hunt sent him check for $50, 900,
and Colwell bought 100 5-per cent. gold
bonds Of Manhattan Electric Light Heat
and Power Company, paying sc for them.
"These bonds he wrote to her. will
surely advance in price, and when they
| touch a good figure / shall sell part,
and keep the balance for you as an in
| vestment. The operation is partly specu-
| lative but l assure you the money Is
| safe. / hope within six months to secure
| for you an income of twice as MUCH as
! you have been receiving from the trust
company"
The next morning she called at his Of
flee.
Good morning Mrs. Hunt. I trust you
are WE'LL
Good morning, Mr.. Colwell. / know
I am an awful bother to you, but, you
see, l don't exactly understand about
those bonds / thought you could tell
me- I'm so stupid" archly.
81 won't have you prevaricate about
yourself, Mrs. Hunt. Now, you gave me
$4,000, didn't you?"
Yes" Her tone indicated that she
hot nd
well, I opened an account for you
with our firm. You were credited with
the amount. l then gave an order TO buy
one hundred bonds of 81 coo each. We
paid SO for them
Il don't follow you quite, Mr.. Colwell.
told you'-another arch smile-'I was
so stupid"
"It means that for each $1,000 bond
1850 was paid. 1t brought the total up to
$50 000.'
But only had $4,000 to begin with.
You don't mean I've made that much do
you?"
mot yet, Mrs Hunt. You put in $685.
coo: that was your margin, you know;
and we put in the other $61, 900 and kept
the bonds as security. We owe you $685.
900 and you owe us SCI, 900, and -
But know you'll laugh at me, Mr..
Colwell-but / really can't help thinking
it's something like the poor people you
read about, who mortgage their houses,
and they go on, and the first thing you
know some real estate agent owns the
house"
''This is not a similar case, exactly.
The reason why you use a margin is that
you can do much more with the money
that way than if you bought outright. In
this case you theoretically owe us $751;
900, but the bonds are in your name, and
thew are worth SOC, 900, that if you
want to pay us back, all you have to do
is to order us to sell the bonds, return
the money we have advanced, and Keep
the balance of your margin; that is, of
your original sum-
Il don't understand why | should owe
the firm. | shouldn't mind so much owing
YOU because l know you'd never take adj
vantage of my ignorance of business mat
ters But I've never met Mr.. Wilson nor
Mr.. Graves.
But you know me-" said Mr.. Colwell,
with patient courtesy. my dear Mrs.
Hunt don't worry about this matter.
We bought these bonds at SO. If the
price should advance to ITO, as I think
it will. then you can sell three-fifths for
S66 600, pay us back sci 900, and keep
So, 900 for emergencies in savings banks,
drawing 4 per cent interest, and have in
addition forty bonds which will pay you
s., 600 a year"
THAT would be lovely. And the bonds
are now 96?"
Yes, you will always find the price IN
the financial page of the newspapers,
where it says Bonds Look for Man.
Flee. 5's," and he showed her.
"Oh, thanks ever so much or course,
| am a great bother, l know
You are nothing of the kind, Mrs.
Hunt, I'm only too glad to be of the
slightest use to you"
Mr. Colwell, busy with several I'M
portant deals, did not follow closely the
fluctuations in the price of Manhattan
Electric Light, Heat and Power Company
IS. The fact that there had been any
change at all was made clear to him by
Mrs. Hunt She called a few days after
her first visit. She wore the semi
resolute look of a person who expects to
hear unacceptable excuses.
Good morning, Mr.. Colwell."
How do you do, Mrs. Hunt? Well, /