The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1904-02-07

Total OBSERVATION-DISCLOSURES. ia 400
at is understood" said Sharpe slowly,
that l am to have complete charge of the
pool, and conduct operations as / see fit
/ want no advice and no questions. Ii
there is any asking to be done I'll do it,
If my way does not suit you we'll call
the deal off right here, because it's the
only way / have. l know my business
and if you know yours you'll keep your
mouths shut in this office and out of it.
Each of you will continue to carry the
stock for which he has agreed to stand in
the pool. You've had it year and
couldn't sell it. and you might keep 1t a
few weeks more, until l sell it for you.
1t must be subject to my call at one
minutes notice. I've looked into the
companys business, and think the stock
can easily sell at rs or 80"
Something like a gasp of establishment
came from those eight hardened specula-
tors. Then Greenbaum smiled, knowing
ly as if that were his programme, mem
orized and spoken by Sharpe.
at is also understood, went on
Sharpe very calmly, that none of you
has any other stock for sale at any price,
excepting his proportion in the pool, and
that proportion. of course. is not to be
sold excepting by me-" No one said a
world, and he continued:
My profit will be Is per cent. of the
POOLS winnings, figuring on the stock
having been put in at 20. The remaining
profits will be divided pro rata among
you: the. necessary expenses will be
shared similarly. 1 think that's all. And,
gentlemen, no unloading on the sly-not
one share"
II want you to understand. Mr.
Sharpe, that we are not in the habit of
- began Greenbaum with perfunctory
dignity. He felt it was his duty to re-
monstrate before his colleagues.
"Oh, that's all right, Greenbaum. I
know YOU That's why I'm particular.
We've all been in Wall Street more than
a month or two. 1 simply said, No
shenau.gan.' And, Greenbaum, he
added very distinctly, while his eyes
took on that curious cold, menacing look,
Il mean it. every id word of it. L
want the numbers of all your stock certi-
ficatcs. Excuse me, gentlemen. I am
very busy. Good afternoon.
Sam is not half bad fellow" Green,
baum told them. as if apologizing for q
dear friends weaknesses. "He wants to
MAKE UuI ItC 3 IL ueNil VI Il tytiC, Dul Hc ,
all right If you humor him you can
make him do anything. 1 always let him
have his own way
On the very next day began the his
torieal advance in Turpentimc. It opened
up at so The Observation-Disclosures who
made a speciality of dealing in it--took
IS 600 shares causing an advance to 81 Is.
Everybody who had been landed with
the shares at higher figures and had
bitterly regretted it ever since now be-
gan to feel hopeful. AS never before a
stock Rad been manipulated with intent
to deceive and malice prepensc, so did
Sharpe manipulate Turpcntinc stock.
The tape told the most wonderful stories
in the world, not the less wonderful be,
cause utterly untrue. Thus ono day the
leading commission houses IN the Street
were the buyers which inevitable led TO
talk OF important developments and
the next day brokers identified with Ger
tam prominent flnanciers took calmly. de
liberately, nonchalantly all the offerings,
| which clearly indicated that the afore'
mentioned financiers had acquired "con'
trolling interest'-the majority of the
| stock-of the American Turpentine Com
pany. And on another day there was a
long string of purchasers of "odd" lots
| amounts less than 100 shares-by brokers
that usually did business for the Green
baum syndicate, meaning that friends oil
| the Syndicafo had reoo;,,oI tu;,~,