The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1903-11-15

Of the crowd to his telephone and made pretense
Of reporting the transactions his Office,
would have done had they been bona fde purchases
He followed by hundred sharply cUrious-and
curiously sharp-eyes. They him hold the tele-
phone receiver to his ear with an expression Of great
interest. he listening an important mes
sage But the only message he heard % his
heartbedts, which seemed to almost articuatey;
llo' ga anu gu ~ io9l' YOU 10 play ~
and you have lost Therefore, YOU are that much
i %SssS OIL IMAM before GU must play again and not
He left his telephone and rushed back to the Sugar
crowd. He was less excited, less like drunken man;
his face was no longer flushed, but pale. And anon
there flashed upon him the words pixies Peak or
bust." But Pixies Peak gOwed duly, feebly, while
tne ALTERNATIVE was or a luIld splendor- And ne
bInked his and made a curious impatient mo-
insect
He gave an order for 5000 Sugar to his friend.
rs this for yourself sally?" asked Hartley.
NO. It's for one OF The osgest meA IN the street
And thus reassured Hartley bought the stock.
The price lis. The seller would hold Hartley
sponsible for the purchase money if Hayward Laid
down''-refused to pay.
sally wiped his forehead twice quite unnecessarily
The shorts not stampedng- Any attempt to sell
out the $1,000 shares he had bought would result only
in depressing the price points at least 1t
than bad-the outlook for him.
He gave another order TO buy 5000 shares 20 BILLY"
Lansing. old reliable two-dollar broker, but Ian
sing declined it, He tried another. but the order
not accepted They mistrusted him; but he could not
even buster. for they excused themselves on the
ground of having important orders elsewhere. SO he
had recourse to another personal friendJ G. Thomp
Joe. buy 5000 Sugar"
Are YOU sober2~ said Thompson seriously
"See for yourself" said sally laughngly He had
nerve "Old man. I've got big order from of the
biggest men in the street Some important develop
ments are going on
sally sure you've got order from
someone else?' asked the Unconvinced broker. His
incredibly obviously i'm the an insult.
but it was pardonable. for there was too much at
stake
Joe. come over to the office and III show you.
Really, I can't tell you. But can advise you as
friend to buy Sugar for all you are worth And as
he uttered the lie he looked straight into Thompsons
Hayward are you sure2 Are you sure you're not
making a mistake" He wanted the commission of
$1o0, but he did not feel certain of his friend
oh he'll. no. I've got a lot more 10 BUY. It's all
right. Go ahead, joe"
And Joe went ahead. He bought the 5000 shares.
The stock 119 12. and Hayward. warned his
experience with Hartley and Thompson. did not ask
either friend or foe to buy another 5000 shares for
for 10000 shares in 500 Brokers now accepted
his orders for they were not so large as to be dan
gerous- A few shorts were frightened He might Win
after all; he might make Pixies Peak. he began
to bid UP the stock. bought cash" stock
outright receiving certificates forthwith. prcsUm
erybody on the 'Hoor was taking ABOUT hayward
entire market had risen in sympathy with Sugar.
But at 124 it seemed as if the entire capital stock
was for sale He ceased buying He had accumulat-
ed $4,000 shares. To for the stock necessitated
about $65O0OO0 But he could unload on an average
of only l22 he might come out even IN his other
He gave an order to sell 10000 shares to a broker
to whom he had always been good friend. 1T was
fatal mistake The broker. Louis w. Wechsler had
previously sold 1000 shares Hayward cash
122- He suspected what coming and, declining
the order. he himself went to HayWard's office and
asked for a check The cashier sought put him of
with excuses, and Wechsler being certain of the
of affairs returned the board and began
sell Sugar short for his account. III a crash
came ne would make instead OF losing it, Hayward
was sure be ruined, and WeChsler told himself
physically that he only DrOhting by the inevita-
BILE In the meantime Sally had sold the 10000 shares
through another broker and the price had declined
l21 ga. But Wechslers 5000 shares put IL down TO
100 And somebody else sold more, and the shorts
recovered from their fright and the fatal hour
approaching when Hayward would have to settle
Pixies Peak bust He did indeed need vertable
Pixies Peak of dollars to for The $4,000 Sugar he
had hand. So he busted
He threw up his hands. He acknowledged defeat
to himself. The tension over. He was no longer
excited but cool almost cynical on one of the little
slips OF paper which brokers jot down memoranda
of their transactions, he scrubbed message I'm lead
pencil. 1t his last official lie. and would cost
his customers, many thousands of dollars il as
follows:
owing to the refusal of their bank to extend the
usual facilities them. Hayward & Co are COM
PEELED to announce their suspension
Boy" he yelled And ne gave the bit of paper to
one of the exchange messenger boys I'm gray. Take
this 10 the chairman
And he walked slowly. almost swaggerngly. out
of the New York stock eXchange-for the last time
as the chairman pounded with his gavel until the
gathered about the rOsIriIu and listened
TO the announcement OF sally Hayward yvNQ began
nice little telephone boy and ended as a stock
/ gambler.
]