The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1903-11-17

wanted tAe comm sssoo q Ia U4t - I'D
not fecl certain II rs Tread
Oh. hell 10 Iyc go 9 lot moge %
buy is All rsat. 10 ahead Joe
And ice vent aaes4 He bought -.
5.eg sharcs- Tic stock Fo~ 80 ltsfa
and hayward wArnet by his experience
with Hartley ard Tho-p~7a. 34 rst SIS
either :reut ~ foe 10 ou1 anotae~
shares for him Wa ae ia vss i3
distribute buying orders for j. -~o share
n lots q; Jeo Brokers noN arcaqte
Bis orders a. they were not - large
10 e. dangerous .Aul tLe slock rose ~
1924 \ iev shorts were tuEete1et IL
might w4u out after all ~ II <ht make
Pix Peas He rSan IS tit up tie
stock. he even bought cash ~tceS-
that s.. >,oc3i for which h. patl cash
had 10 pay cash oltreht receiving thr
certificates forthwith rtslratp -
rand Over - some investor 81 millions
Everybody on TIE aoo- was taking
abut Hayward The entire market sa4
risen IN ~-yupathy Min sugar
But At 10 II seemed : he entire
capital stock was for sale III, cea~ra
buying He had Accumulated $50
shares. To ray Ter tn stock neeessl-
tated about tx and one hail mtsson-
But Il hc could unload on an aver x
OF Only L. Dc ILtALA NEtEEt tlL even
iii his other troubles
He gave an order to SCH l0o 600 shares
TO a broker to whom lie hal always , s..
i good friend. II Vas a fatal mistake
The broker. Louis " Wcch~lcr. had pre-
viously sold 1000 shares to Hayward for
cash at l22 He suspected what Na~
coming, and declining the order he him
self Went 10 Hayward office ana asked
for a check. Tie cashier sought to INst
hIm of with excuses. ami Wech~lev. NOW
being certain OF the true state OF affairs.
returned to the board and began 10 sell
Sugar short for his own account. Il 4
crash came he would make instead Of
losing It. Hayward was sure - be
ruined. and Wechsler told himself go
physically hat he was only proitng b.
the inevitable. In the meantime SALLY
had sold the 1o.oo0 shares through am
other broker. and the pr.ce hal declined
to 1884,. But Wechslcr'~ 5000 shares put
it down to l2ol2. And somebody else
sold more, and the shorts recovered from
their fright. and the fatal hour vas an
preaching when Hayward would hayc %
settle. Pixies Peak or bust He dtd.
indeed, need a veritable Pixies Peak 81
dollars 10 pay for the IS 5000 SuEar h
had on hand. 50 he busted.
He threw up ms hands. He acknowl
edged defeat to himself. The tension
was over. He was no longer excited, but
cool, almost cynical. On one OF the lt.
tie slips Of paper on which brokers tot
dowkn memoranda of their transaction,
he scrubbed a message III lead pencil
1t was his last official lie. and would cost
Hartley and Thompson and Other friends
as we'll as his customers. many thouS-
ands of dollars. 1t WAS a. follows
n.>. - tI1 r,F,,-. nt thnJ~ ham
10 extend the usual facilities to them
Hayward q Co. are compelled to an
nounce their suspension
Boy" he yelled. And he gave tht
bit Of paper to one of the exchange mes
senger boys in gray. Take this to tn,
chairman
And he walked slowly, almost sWag
~geringly, out of the New York Stock Ex
change-for the last tlme-aS the char.
man pounded with his grave! until tn
} usual crowd gathered about the rostrun
and listened to the announcement OF TIL
failure OF sally Hayward, who besa;
J as a nice little telephone boy and ende'
| as a stock gambler.