The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-05-27
CHAPTER xxxlIl.--contlnued
rhe Amateur NAPOLEON Of Wall Street.

CHAPTER xll!.-contlnued.
TheFAmateur Napoleon OF Wall Street.
There was one rule in poker your pa
had said Uncle Peter. II hand is
worth calling on, it's worth raising on.
He jest never would call. If he didn't
think a. hand was worth raising, he'd
bunch it in with the discards. and wait
fur another deal. I don't know much
about the game. but he said 1t was a
sound rule. and if it was sound In poker,
why it's got to be sound in this game.
That's all can tell you. You know what
you hold. and if faint hand to lay
down. it must be hand to raise on. OF
course. if you'd been brash and ignorant
In your first calculations--if you'd made
fool OF yourself at the start but shucks,
you're the son of Daniel j. Bines, amt
your
The rule and the clever provoca ton had
their effect
II raise as long as have a chip left
Uncle Peter. Why, only to-day I had a
tip that came straight from Shepler, tho
he never dreamed it would reach me- That
Pacific cable bill is going to be rushed
tnru at this session of congress, sure, and
That means enough increased demand to
send Consolidated back where it was. And
then. when 1t comes out that they've got
those Rio Tinto mines by the throat
we'll this anvil chorus will have to stop.
and those Federal Oil sharks and Shepler
Will be wondering how I had the face to
stay in
The published rumors regarding Consoli-
dated began to conflict very sharply. Per-
cival read them all hungrily, disregardins
those that did not confirm his own opin
ions. He called them irresponsible news
paper gossip. or believed them to be in
spired by the clique for it's own ends.
u a f,,Hi al he III -
he knew all it's ups and downs since the
great electrical development began in 1887
When Fouts, 1.-THE broker he traded most
heavily with. suggested that the Consoli.
dated company was skating on thin ice
that 1T might, indeed, be going thru the
same experience that shattered the famous
Secretan corner q dozen years before, Per
cival pointed out unerringly the vital diff
Terence in the circumstances. The Con
solidated had reduced the production O.
It's controlled mines, and the price was
bound to be maintained. When his ad
wiser suggested that the companies not il
the combine might cut the price h
brought up the very lively rumors Of {
sentleman's agreement with the mon
combine" producers.
@"Of course, there's Calumet and Hecla
know that couldn't be gunned into tn
combination. They could pay dividend
with copper at 10 cents a, pound. But tn
OticI knO" winch side O
their stock is spread with dividends, al
right"
When 1t was further suggested that TIL
Rio Tfnto mines had sold ahead for
Year, with the result that European i'm
ports from the United States had fale
off, and that the Consolidated could not e
on for ever holding UP the price, Perciva
said nothing. SIS
/ The;answerfto thatswas the secret nesgso
forT ,f,,o1 80 49, -
put. which would make the Consolidate
master Of the copper world Instead g
disclosing this, he pretended craftily to b
encouraged by the mere generally hopefr
outlook In all lines. Western Trolley. too
might be overcapitalized, and Union Cord
age might also be in the hands of a pirat]
cal clique; but the demand for trolle
lines was growing every day, and cordae
products were not going out Of fashion b
any means.
you see." he said to his advise
heres what the most conservative ma
In the street says in this afternoons pape
That copper must necessarily break bad]
and the whole boom collapse, dc. not be
1ieve. There Is enough prosperity
maintain strong demand for the met
thru another year, at least. AS to wes
ern Trolley and Union Cordage, the ty
other stocks about which doubt is now b.
Ing so widely expressed in the street. a,
persuaded that they are both due to ris
not sensationally. but at a healthy upwa1
There" said Percival, there's Il
Judgment OF a man that knows the gam
but doesn't happen to have doll
In either stock, and he, doesr
know one or two things tn
know. either. just hypotheca
10000 of those Union Cordage shar
and five thousand Western Trolley, al
buy Consolidated on a twenty per ce
margin. want to get bigger actto
There's a good rule in poker: If your hal
Is worth calling. it's worth raising.''
II like your nerve" said the broker.
We'll. l know some one who has
sleeve with something up 1t, that's ALL
BY the third week in April 1t was b
lieyed that his holdings Of CONSOLIDATE
were the largest in the street. excepti
those Of the Federal Oil people. TIM
Peter was delighted by the magnitude
his operations, and by his newly form
habits Of industry.
It'll be the markings Of the boy.''
said to Mrs. Bines in her sons presen,
"Not that care so much myself abo
al the millions he'll pile up, but it civ
him a business training, and takes h
out Of the pin-11ead class bet Shep
himself will be takin off his silk hat
your son, jest as soon as he's made Il
turn in copper-if he has enough Of Da
Us grit to hang orl-and think he has
''They needn't wait another day for m
Percival told him later. ''The fam
treasure is about all in now, except m
amethyst earrings. and the hair wat
chain Grandpa Cummings had. or cou
I'm holding what promised for Burn,
But that rise can't hold off much long
and the only thing TIL do, from now
10 to hook a few blocks of the stocl