Ottumwa tri-weekly courier. [volume] (Ottumwa, Iowa) 1903-1916, 1905-07-20

II know my business. Gardner"
said Brewster quietly, and his con-
science smote him when he saw the
flush Of modification creep into the
face Of his friend. The rebuke had cut
Gardner to the quick.
But, Monty. know what I'm talk
ing about At least let me tell You
something about this stock" pleaded
Elon Loyalty despite the wound.
"Gardy, I've gone into this thing
carefully, and II ever man felt sure
about anything do about this" said
Monty decidedly, but affecdonately.
Take my word for it, Lumber can't
go any higher. Think Of the situation.
The lumbermen in the north and west
are overstocked, and there is strike
ready to go into effect. When that
comes, the stock will go for a song.
The slump is liable to begin any day."
"My mind is made up" said the other
firmly, and Gardner was in despair.
will you or will you not execute an
order for me at the opening tomorrow?
I'll start with 10000 shares. What
will 1t cost me to margin it for ten
points? ?"
''At least hundred thousand, exclu-
sive Of commission, which would be
twelve and half a hundred shares"
Despite the most strenuous opposition
from Gardner, Brewster adhered to his
design, and the broker executed the or
der the next morning. He knew that
Brewster had but one chance to win,
and that was to buy the stock in
lump instead Of distributing 1t among
several brokers and throughout the
session. This was a point that Monty
had overlooked.
There had been little to excite the
Stock Exchange for some weeks; moth
ing was active, and the slightest furry
was hailed as an event. Every one
knew that the calm would be disturbed
at some near day, but nobody looked
for sensation in Lumber and Fuel.
It was foregone conclusion that
slump was coming, and there was
scarcely any trading in the stock.
When Elon Gardner, acting for Mont
gomery Brewster, took 10000 shares at
1854 there was mighty gasp on the
exchange, then rubbing Of eyes, then
commotion. Astonishment was follow
ed by nervousness, and then came the
struggle.
Brewster, confident that the stock
could go no higher and that sooner or
later it must drop, calmly ordered his
horse for a ride in the snow covered
park. Even though he knew the ven
ture was to be failure in the ordinary
sense, he found Joy in the knowledge
that he was doing something. He might
be a fool; he was at least no longer In
active. The feel Of the mfr was good
to him. He was exhilarated BY the
glitter Of the snow, the answering ex-
element Of his horse, the gayety and
sparkle Of life about him.
Somewhere far back in his inner self
there seemed to be the sound Of cheer
ing and the clapping of hands. Short
~ before noon he. reached. his club,
where he was to lunch with Colonel
Drew. In the reading room he OBJ
served that men were looking at him
in manner less casual than was Gus
tomary. Some of them went so far
as to smile encouragingly, and others
waved their hands in the most cordial
fashion Three or four very young
members looked upon him with adj
mfration and envy, and even the por-
tiers seemed more obsequious. There
lamely Several of the men looked at
him in Surprise and disgust.
We'll, if l were you I'd tell him to
SELL remarked the colonel coldly.
The effect of your plunge has worn
off, Brewster, and the other side will
drive the prices down. They won't be
caught mapping again either" said one
of the bystanders earnestly.
do you think SOP And there was
a note of relief in .Adonty's voice,
From all sides came the advice to
sell at once, but Brewster was not to
be pushed. He calmly lighted ciga-
rette and with an assured air of wis
dom told them to wait little while
and see.
"she's already falling or" said some
one at the ticker.
When Brewster's bewildered eyes
raced over the figures the. stock was
quoted at 112. His sigh Of relief was
heard, but misunderstood He might
be saved after all. The stock had
started to go down, and there seemed
no reason why it should stop. AS he
Intended TO purchase no more, it was
fair to assume that the backbone was
at the breaking point. The crash was
bound to come. he could hardly re-
strain cry. Of joy. Even while he
stood at the ticker the little instru-
ment began to tell Of further decline.
AS the price went down his hopes went
up.
The bystanders were beginning to be
disguised. 1T was only a fuke after
all, they said to each other. Colonel
Drew was appealed to to urge Monty
to save himself, and he was on the
point Of remonstrance when the mes