The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1903-07-05

extensive washouts and ruinous land
slides. and bankrupting attacks by a
soclalistic legislature, and receivership
DrOba bilities.
The board room became Iowa Mid
land mad. Spectators often stampede
just like other animals. No stock
can withstand their rush to sell even
though it be protected or sup
ported by its manipulatOTs, much less
a stock like Iowa Midland, whose mar
ket sponsor was out of town and out
OF reach of the telegraph. And Iowa
Midland was going down fast.
Mr.. Greener in his Office was looking
at the ''taDe." The sallOw-faced little
man permitted himself a slight-a very
slight-smile. The tape showed: Ia
Mid 1000, 80: 300 1884 500, IS 300, u:
zoo, *. = 800. 3S''
He turned away to summon clerk
10 whom he said: Mr. Rock. please
send for Mr. Coolidge Make haste
Very well. SIR
A portly, white WaistcOated, white
haired man. with snow-white, short
cropped side whiskers. burst uncere-
monioUsly into the room.
How do you do. Mr.. OrmistOn?"
sGueaked Greener. cordially.
'Greener." painted the pOrtly man,
what's the matter with Iowa Mid
land?"
planning, half petulant squeak.
Brown started the selling I saw it
myself. Greener. l did you a good turn
once in Central District Telegraph.
I'm long 5000 shares of this Iowa Mid
land. For Gods sake, man, if. you
know anything
Mr.. OrmistOn. all know is what 1
learn from my confidential reports of
the Iowa crop. Along the line of the
keohuk q Northern the crop is not
what I hoped for" And he shook his
head dolefully.
"Ticky-ticky-ticky tickl' said the
ticker.
The portly man approached the little
machine.
"Thirty-seven and an eighth. Thirty
seven!" shouted OrmistOn. Great
Scott she's going down like a. He
did not finish the comparison, but
rushed out of the Office without paus-
ing to say good-by.
Again Mr.. Greener summoned d con-
fidential clerk.
Mr.. Rock" he squeaked. placidly.
Telephone Mr. Brown that Ormiston,
Honkhouse & Co. are about to sell 5000
shares Of Iowa Midland. and that Mr..
Coolidge must not pay more than IS
for it."
''Mr. Coolidge is in your private room.
sir announced an Office boy.
The little financier confronted his
chief confidential broker. Their rela-
tons were unsupported by the street.
Everybody thought Coolidge was a
pleasant and honorable man.
Coolidge. go to the board at once.
Ormiston is going to sell 5000 shares
Of Iowa Midland Get it cheap as you
can. Don't be in hurry, though"
How much shall / buy2" asked the
broker, jOtting down a few figures in
his order book.
As much as YOU can; all that Is Of
Tered below thirty-seven." squeaked the
Napoleon Of the street. II was a Ma
poleOniC order. And. Coolidge. I don't
want this known by any one. Clear the
stock yourself" IT meant that Mr.
coolidge was 20 put the stock through
the clearing house in his own name.
As there is charge for this service in
addition to the usual buying or selling
commission. such steps are not resorted
TO unless it is desired to conceal the
identity of the brokers' principal.
Ormiston's 5000 shares found their
way 10 Mr.. Colleges office at from
347s to 35%. The man who once had
done Greener a good turn now did him
another-the gift of $4,000
In addition, Coolidge. EMPLOYING sew
eral brokers. purchased $4,000 shares in
all, which meant that Mr. Greener.
after covering" Browns early short
sales was in possession Of fully 1900
shares Of the common stock of the
Iowa Midland Railway company. at a
price averaging nearly points lower
than they could have been bought on
the preceding day, which is to say
SIS goo cheaper.
But Brown & Greener had made as
much on their short sales, which was
actually equivalent TO having the lambs
pay a man for the privilege of being
shorn by him.
Such was the first Of a series Of Skin
mishes by. means Of which the dimin-
utive Napoleon Of the street captured
the floating supply of Iowa Midland
stock until he had no less than $1,000
shares safe in his clutches.
All the old tricks that he knew and
new devices he invented were used to
hide from the street the fact that Mr.
Greener was buying the stock on every
opportunity But beyond a certain limit
extensive purchases of a particular
stock cannot be concealed from the
thousand shrewd men who make their
hving-a very good living, indeed-by
not being blind. First one thing. then
another. told these men that some pow
ertul hnancier. or group Of inanciers,