St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1907-05-04

What are you reading so attentive
ly, Isabel?"
Lady Isabel looked up absently, and
smiled.
"I'm only looking at this catalogue"
She handed it to me across the table.
'It's a sale at the Veringham's-you
know, that lovely place of theirs in
Sussex, and you remember poor Lord
Veringham going smash the other
day."
Did he?"
YES; he financed some company, or
they unfnanced him, or something"
she explained vaguely; 'but, as you
know, | don't understand finance, Mar
jorie."
Don't you?" I asked innocently.
Lady Isabel laughed a little as she
leant back in her chair. We'll, per-
haps I do a little" she admitted, but
only my own. It's a pity they've had
to sell Marsden Hail." she continued;
'but he's so fearfully honest he will
insist on paying off all he can; how
ever, l daresay the things will fetch
very big prices"
Are you going to the sale?"
ooh, yes" she answered, "and so are
you'll want you to help me by bid
ding for some of the things"
But I don't want to buy anything"
l protested.
my dear child" expostulated Lady
Isabel, you surely don't suppose all
the people you see at auction sales
wish to buy things; why, lots of them
are trying to SELL
How SELF" I patiently awaited ex-
| plantations.
"Well, you see, the art of supplying
| is to create a demand. Now supposing
you bid for things and I bid for them
too, it makes other people bid as well,
because people always want what
other people are trying to get
Some people" I corrected gently.
81 wish you'd give up that horrid
habit of arguing, Marjorie; most peo-
pie do" she repeated; land then the
bidding becomes very brisk, and every
body gets awfully keen to get things
dealers sometimes lose their heads a
ttle-especially If the things are real
| ly valuable"
But supposing I bid and the thing
F.! Is knocked down on me?" | said, feel
| ingly once more inclined to argue.
"Oh, that won't matter" she said
airily, because you will only bid up to
the reserve-and l will mark the re-
serve price on the side of your cata.
logue. It's only decent sympathy and
friendship to try and help the sale to
CO." said Lady Isabel "Just think how
often you and have been to the Yer
inghams' parties-yes I know they
were horrid bore as rule" she add
| ed hastily, in reply to a look, but
reproachfully-" surely, my dear Mar
jorie, it's not very much to do for a
| friend"
"Of course it isn't" I agreed, feel
ing rather ashamed of myself, land
after all, rs you say, if the things are
really very valuable, it would be a
shame to let the dealers get them toe
cheaply."
EYES," she agreed, "and dealers are
horribly tricky, you know. 1 have
asked good many people to go to
this sale, because if outsiders don't go
the dealers will get all the things at
knockout prices
my dear Isabel whatever are
Knockout prices?"
"Don't you even know what knock
out is?"
''No"
"Why, it's like this-so many deal
ers combine together to buy, say, a
valuable Chelsea group of figures, but
one only bids, and the others refrain
from bidding so as not to spoil his
chance"
ooh well, that's rather nice OF
them"
"And then" continued Lady Isabel
ignoring my comment, they all meet
afterwards, generally at the nearest
public-house, where they select q
chairman from among themselves, and
the thing is put up again and knocked
down to the highest bidder, while the
surplus above what it realized in the
action is divided up among the rest.
sighed. What a very complicated
world it is"
very" said Isabel laconically; "and