Barton County democrat. [volume] (Great Bend, Kan.) 1885-1915, 1904-02-05

reaction" Mr.. Kent pondered deep
ly. He rang bell.
ssHow much Sugar have bought?"
he demanded of his private book
keeper.
"Forty-three thousand shares
was the reply.
cit win average about 142. win it
not?"
The bookkeeper produced slip Of
paper, ran his eye over shc figures.
made rapid calculation, and said
that the average price paid for this
line of Sugar stock was 1925.
''Very well; that is ALL Mr.. Kent
said.
He called up his broker who rep
resented him on the floor of the
Stock Exchange.
'.Sell all the Sugar you can with
out breaking the market" he COM
manded in voice that could not be
heard ten feet away Wall Street is
all ears. There is good buying just
now. Begin on 500 share lots. Feel
them out at the start, but keep busy.
Sell at least $4,000 shares before you
close, no matter what happens. When
you have sold 10000 shares, offer it
in 1000, 1000 and 5000 lots.
The broker repeated the order
quickly so as there could be no mis-
take Mr.. Kent returned to the
| ticker.
'sSome one taking profits, eh?"
muttered Mr.. Kent as he paced the
| floor, nervously chewing the end of
an unlighted cigar. "I'n show them
| how to take profits! They must
think am in my second childhood.
They have an idea I am going to
hold the bag, do they? This is the
way they keep their agreement" He
rang the bell furiously.
| "How much B. & o. have I?''
| Fifteen thousand shares at an
average of 49," was the reply.
| 'Wire Brown & Addy of Boston,
to sell me 10000 B. & o. at the mar
ket. Send word to Blake & Co. of
Chicago, to sell me $4,000 ST. Paul at
| the market. Rush! hurry!"
| He was at the private telephone
again.
"How much Sugar have you sold?''
twenty-five thousand. It has
broken point and half"
| That's all right. Put it out in
1000 and 5000 lots. Sell me 10000
shares of Metropolitan at the mar
| ket. Got it? That's right. Good
bye
The ticker was singing like sew
ing machine. Sugar, B. & O., ST.
Paul. Jersey Central, Metropolitan,
Steel and Iron and other stocks came
out in blocks of from 1000 to 1000
| < 10fc R1lff 10 xof
held remarkably well. There was
mot cloud in the sky" and the pub
lie was summing itself. But even
their guileless optimism could not
withstand the impact of the myster-
ious interest which had been selling
hundreds of thousands of shares on
Saturday and during the present SEES
sion, reinforced as it was by the en-
ragged Mr.. Kent, who ascribed this
selling to the perfidy of his asso-
ciates. When the days battle was
over the field was covered with dead
and wounded Sugar had closed at
1851 bid and 146 asked. Baltimore
and Ohio had dropped to 1855; ST.
Paul to 167k: Metropolitan to 40;
Jersey Central to 1881; and Steel and
Iron showed a net loss for the day
|
from it's high point at the opening OF
nearly nine points.
When Mr.. Kent had received re
ports from his brokers, and tele.
graphic advices from Boston. Chicago
and Baltimore, he found that he hat
sold $4,000 shares of Sugar and that
all of his other commissions hat
been executed. He had accomplished
one of the phenomenal changes o,
position for which he was famous anG
dreaded. In a hundred offices hi.
name was mentioned, coupled will
expressions which would not warran
reproduction on these pages. He qui
city talked the situation over will
his lieutenants, instructed them t.
smash" the market at the opening
next morning, and with an unruffle,
mien left his Office shortly befor
four o'clock.