The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-02-07

straight from the inside" And two
days later Sharpe's unsupported bro
kerS offered to pay l II per cent for
the dividend on 100000 shares, said
dividend to be declared within sixty
days or the money forfeited and the
stock sold up to 66%, and the public
wanted it, A big, broad market had
been established, in which one could
buy or sell the stock with ease by the
tens Of thousands of shares. The 114,-
400 shares, which at the inception of
the movement at the unstable price
of $50 a share represented a theoret-
ical $3,432,000, now readily vendible at
$65 a share, meant $7,422, 000 not half
bad for a few weeks work.
And still Sharpe, wonderful man that
he was, gave no sign that he was about
to begin unloading. Whereupon the
other members of the pool began to
wish he were not quite so greedy.
They were satisfied to quit, they said.
They implored. individually and col
lectively, Jacob Greenbaum to call on
Sharpe; and Greenbaum, disregarding
a still, small voice that warned him
against it, went to Sharpe'S office, and
came out of it two minutes later some
what flushed, and assured his col
leagues one by one that Sharpe was
all right and that he seemed to know
mis- business. Also that he was cranky
that day.
The stock fuctuated between so and
SIS. 1t seemed to be having a resting
spell. But it had enjoyed these periods
of repoSe on three several occasions
during the rise-aI 40 and 48 and Sc
the public became all the more eager
to buy it whenever it fell to so or SO,
for the street was now full Of tips that
''Turp" would go to par And such
was the public's speculative temper
and Mr.. Shapes good work that disin-
terested observers were convinced the
stock would surely sell above 80 at the
very least. Mr.. Sharpe still bought
and sold, but he sold twice as much
as he bought, and the big block he
had been obliged to take in the course
Of his manipulation diminished On
the next day he hoped to begin selling
the pool stock.
That very day Mr.. Greenbaum, as he
returned to his office from his lunch
con, felt well pleased with the meal,
and therefore with himself and there
fore with everything. He scanned a
yard or two Of the tape and smiled.
''Turp" was certainly very active and
very strong.
I'm such a market" thought Mr..
Greenbaum, Sharpe can't possibly tell
he's getting stock from me- In order
to be on the safe side I'm going to let
him have a couple of thousand. Then,
should anything happen, I'd be that
much ahead. Ike!" he called to a
clerk.
Yes sir"
Sell two-wait; make it 3,OOO-no,
never mind. Send for Mr. Ed Lazarus
And he muttered to himself with a
subthrill of pleasure: Il can lust as
well as not make it 5000 shares"
Eddie" he said to his partners son,
give an order to some of the room
traders, say, to Willie Schiff, to sell
five-er-six tell him to sell 1000
shares of Turpentine and to borrow
the stock. 1 am not selling a share,
see?" with wink. It's short selling
by him, do you understand"
DO I? Well, 1 guess. I'll fix that
part o. k" said young Lazarus com
placently. He thought he would cover
Greenbaum's tracks so well as to de-
ceive everybody, including that highly
d1sagreeable man, Samuel Wimbledon
Sharpe. He felt so confident, so elat
ed, did the young man, that when he
gave the order to his friend and club
mate, Willie Schiff, he raised it to TO-.
600 shares. Greenbaum's breach of
faith had grown from the relatively
small lot of 1000 shares to five times
that amount. 1t was to all appear
ances short stock, and it was dulv
borrowed" by young Schiff. 1t was
advisable that 1t should so appear. In
the first place no member of the nooI
sQuld supply the stock which he held.
because Sharpe could trace the selling
to the office. as he had the numbers of
the stock. certificates.
Isidore Wechsler, who held $4,000
shares, was suffering from bad liver
the same day that Greenbaum was
suffering from nothing at all, not even
a conscience A famous art collection
would be sold at auction that week,
and he felt sure his vulgar friend. Abe
Wolff, would buy a couple of excep-
tionally fine Troyons and a worId-fa-