The White Pine news. [volume] (Ely, Nev.) 1906-1910, 1907-08-24

suicide renewed courage to cut the
mortal coil. BY ten O'Clock it had set
tied down on the stock exchange and
Its surrounding infernos with clam
miness that damped the spirits of the
most rampant bulls. No class in the
world is so susceptible to atmospheric
conditions as stock-gamblers. Many
stouthearted one has been known
to postpone the Inauguration of long.
planned coup merely because the air
filed his blood with the dank chill of
superstition. Because Of the expected
members had gathered early; the
brokers offices were overcrowded be-
fore ten; the morning papers, not
only in New York but in Boston, Phil
adelphia and other centers, were fill
ed with stories Of the big rise that
was to take place in Sugar. The
knowing ones saw the ear-marks of
the systems" press-agent in these
stories; and they knew that this in
| dustrious institution had not sat up
the night before because of insomnia.
All the signs pointed to killing, and
and terrific one-pointed so plainly
that the bears and Sugar shorts found
no hope in the atmosphere or the
date.
Bob had not been near the Office the
| afternoon before, and as he had not
come in by five minutes to ten, de-
cided to go over to the exchange and
see if he were going to mix up in
the batting of the Sugar bears. Ihad
no specific reasons for thinking he
was interested except his recent
queer actions, particularly his hanging
to the Sugar-pole, yet doing nothing,
the day before. But it is one of
the best established traditions Of
stock-gambledom that when an op-
orator has been bitten by a rabid
stock he is Invariably attracted to it
every time afterward that it shows
signs of frothing. More than all,
had one of those strong nowhere-born-
nowhere-cradled intuitions common to
those living in the Safeguarding
world, which made me feel the creepy
shadow of coming events.
AS on that day a few weeks before,
the crowd was at the Sugar pole, but
its alignment was different. There in
the center were Barry Conant and his
trusted lieutenants, but no opposing
rival. None of those hundreds of
brokers showed that desperate resolve
to do or die that is born of neces-
sity. They were there to by or sell,
but not to put up a life or death, on
e-depends-the-result fight. Those
who were long of stock could easily
be distinguished by their expressions
of joy from the shorts, who had seen
the handwriting on the wall and were
filled with uncertainty, fear, terror.
his lieutenants expressed confidence;
they were going to do what they were
there to do. They showed by 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 it in a block. Barry Conant
bought it. 1t 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 Safeguarding
by which the public is deceived and
the traders and plungers are handicap
ped with loaded dice. In principle, it
is 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 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 Safeguarding, loves to be
"hinkey-dinked" as much as the moth
to play tag with the candle flame. 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 lieutenants
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 Bobs
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 the killing as possible.
Bob was not trading, although on the
day before, he never took his eye of
Barry Conant l said to myself: HE
is trying to fathom Barry Conant's
movements" but for what purpose
puzzled me. The hands of the big
clock on the wall showed that trading
had been 80 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" 1t was Bob. He had worked
his way to the center of the crowd