The Princeton union. [volume] (Princeton, Minn.) 1876-1976, 1907-05-09

u PRINCETO On U MON:
There to do. They showed ~ their tight
buttoned coats, and squared shoulders
that they expected lots Of rush. push
and haul work, but apparently they
anticipated no last-ditch fighting. The
gong pealed and the crowd OF brokers
| sprang at one another, but only for
blood. not flesh, bone, heart and soul:
just blood. The first price on Sugar
was I'll, for 5000 shares. Some one
sold 1t In . block. Barry Conant
bought it. It did. not require three
eyes to see that the seller was one
of his lieutenants This meant what
is known as wash" sale, fictitious
one arranged in advance between two
brokers to establish the basis for the
trades that are to follow-one Of
those minor frauds of stock gambling
by which the public is deceived and
the traders and plungers are handicap
ped with loaded dice. In principle, it
is a device older than stock EXCHANGES
themselves, and is put to use else
where than on the floor. For instance.
four genuine buyers want particular
animal worth 5000 at a horse auction.
Its owners pal starts the bidding at
$500, and the four, not being up in
horse values, are thereby induced to
reach for it at between $500 and $500.
But human nature, whether at horse
sales or at stock-gambling, loves to be
''hinkey-dinked" as much as the moth
to play tag with the candle fame. In
five minutes Sugar was selling at
221, and the frantic shorts were grab
bling for it as though there never was
to be another share put on sale, while
Barry Conant and his ieutenants
were most industriously pushing it
just beyond their reaching finger-tips,
either by buying it as fast as it was
offered by genuine sellers, or by tax
ing what their own pals threw in the
air.
| ! l was not surprised to see Bob's
tall form wedged in the crowd about
| two-thirds of the way from the cen
ter Every other active floor member
was there, too. Even Ike Bloomen-
stein and Joe Barnes, who seldom
went into the big crowds, were on
hand, perhaps to catch a flier for their
Thanksgiving turkey money, perhaps
TO get as near Ghe killing as possible.
Bob was not trading, although on the
day before, he never took his eye off
Barry Conant I said to myself "He
Is trying to fathom Barry Conant's
movements,P but for what purpose
puzzled me. The hands of the big
clock on the wall showed that trading
had been 30 minutes under way, and
still Barry Conant was pushing up the
price. His voice had just rung out
| "25 for any part of 5000" when, like
an echo, it sounded through the hall:
Sold" It was-Bob. He had worked
his way to the center, Of the crowd
and stood in front Of Barry Conant
| He was not the Bob who had taken
Barry Conant's gaff that afternoon a
few weeks before. I never saw him
cooler, calmer, more self-possessed.
He was the incarnation of confident
power A cold, cynical smile played
around the corners of his mouth as
he looked down upon his opponent. i
The effect upon Barry Conant was
different from that of Bob's last bid
on the day when Beulah Sands hopes
went skyward in dust. It did not
rouse In him the wild, furious desire
for the onslaught that he showed
then, but seemed to quicken his alert,
prolific mind to exercise all it's cum
ming. think that in that one mo-
ment Barry Conant recalled his suspi-
cions of the day before, when he had
wondered what Bob's presence in the
crowd meant, and that he saw again
the picture of Bob on the day when
he himself had ditched Bob's treasure
train. He hesitated for just the frac-
ton of a second, while he waved with
lightling-like rapidity a set of finger
signals to his lieutenants. Then he
squared himself for the encounter.
"25 for 5000" Cold, cold as the voice
of condemning Judge rang Bob's
Sold" "25 for 5000" Sold" "25
for 5000" Sold" Their eyes were
fixed upon each other, in Barry's a de-
f1ant glare, in Bob's mingled pity and
contempt. The rest of the brokers
hushed their own bids and offers I'm.
til it could have truthfully been said
that the floor of the stock exchange
was quiet, an almost unheard-of thing
in like circumstances. Again Barry
Commits voice, "25 for 5000" "Sold."
"25 for $1,000" "Sold" Barry Conant
had met his master. Whether it was
that for the first time in all his won.
derful career he realized. that the
"s ystem"F' was to meet it's Nemesis,
or what the cause, none could tell,
perhaps not even Barry Conant him.
self, but some emotion caused his
| olive face for an instant t0 t,,r, na1o