Audubon Republican. [volume] (Audubon, Iowa) 1894-1925, 1906-11-15

Slepler, though he never dreamed Il
would reach me. That Pacific Cable
bill is going to be rushed through at
this session o. congress, sure. and that
means enough increased demand to
send Consolidated back where 1t 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 | had the face to stay i'm"
( The published rumors regarding Con.
solidated began to conflict very sharp.
ly. Percival heard them all hungrily,
disre sarding those thai lid not con.
firm his own opinions. He called them
irresponsible newspaper gossip, or be.
lieved them to be inspired by the
clique for its own ends.
He studied the history of copper
until he knew all its ups and downs
since the great electrical development
began in 1887. When Fouts, the bro.
ker he traded most heavily with, sug-
gested that the Consolidated company
was skating on thin ice, that 1t m ght
indeed, be going through the same ex-
perience that shattered the famous
Secretan corner a dozen years before,
Percival pointed out unerringly the
vital differences in the circumstances.
The Consolidated had reduced the pro.
duction of its controlled mines, and
the price was bound to be maintained.
When his adviser suggested that the
companies not in the combine might
cut the price, he brought up the very
lively rumors of ''gentlemen's agree.
ment" with the "non-combine" pro.
ducers.
"Of course, there's Calumet and
Hecla. / know that couldn't be gunned
into the combination. They could pay
dividends with copper at ten cents a
pound. But the other Independents
know which side of their stock is
spread vito dividends, all right"
When it was further suggested that
the Rio Tinto mines had sold ahead
for a year, with the result that Euro
pean imports from the United States
had fallen off, and that the Consoli-
dated could not go on forever holding
up the price, Percival said nothing.
The answer to that was the secret
negotiations for control Of the Euro
pean output, which would make the
Consolidated master of the copper
world. Instead of disclosing this, he
nratandad oroftilx, RI ha aunoura0 od NV
the mere generally hopeful outlook In
all lines. Western Trolley, to- might
be overcapitalized, and Union Cordage
might also be in the hands of pirat-
ical clique; but the demand for trolley
lines was growing every day. and
oordage products were not going out
Of fashion by any means.
"You see," he said to his adviser,
"nere's what the most conservative
man in the street says in this after.
moons paper. That copper must nee
essarily break badly, and the whole
boom collapse / do not believe. There
is enough prosperity to maintain a
strong demand for the metal through
another year at least. AS to Western
Trolley and Union Cordage, the two
other stocks about which doubt Is now
being so widely expressed In the
street, I am persuaded that they are
both due to rise, not sensationally, but
at a healthy upward rate that makes
them sound Investments
There" said Percival, there's the
judgment of a man that knows the
game, but doesn't happen to have a
dollar in either stock, and he doesn't
know one or two things that know,
either. Just hypothecate 10000 OF
those Union Cordage shares and 5000
Western Trolley, and buy Consolidated
on 20 per cent. margin. want to
get bigger action. There's good rule
in poker: if your hand Is worth call
ing, it's worth raising"
Il like your nerve" said the broker.
"Well, | know some one who has a
sleeve with something up it, that's all"
BY the third week in April, 1t was
believed that his holdings of CONSOLE
dated were the largest in the street,
excepting those of the Federal Oil
people. Uncle Peter was delighted by
the magnitude of his operations, and
by his newly formed habits Of indus
try.
"It'll be the makings Of the boy"
he said to Mrs. Bines in her sons pres
ence. mot that care so much my
self about all the millions he'll pile up,
but 1t gives him a business training,
and takes him out of the pinhead
class. | bet Shepler himself will be
takin' off his silk hat to your son,
Jest as soon as he's made this turn in
copper--if he has enough of Dan'l Us
grit to hang on-and think he has"
"They needn't wait another day for
me-" Percival told him later. "The
family treasure Is about all In now,
except mas amethyst earrings and the
hair watch chain Grandpa Cummings
had. OF course I'm holding what
promised for Burman. But that rise
can't hold off much longer, and the
only thing I'll do, from now on, is to
hook few blocks of the stock
bought outright, and buy on margins,
SOS to get bigger action"
"My! My! you jest do fairly dazzle
me-" exclaimed the old man, delight.
eddy. "Oh, u guess your pa wouldn't
be at all proud of you if he could see
1t. I tell you, this family's all right
while you keep hearty"
well, I'm not pushing my chest out
any" said the young man, with be-
coming modesty, but I don't mind