The commonwealth. (Greenwood, Miss.) 1896-1923, 1911-12-15
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eager were the sellers that Ward
Valley rose but slowly. A wildly ex-
citing time was his during the week
preceding Thursday the eighteenth.
Not only was he gambling as he had
never gambled before. but be was
gambling at the biggest table in the
world for stakes 50 large that '
the case-hardened hahitues Of that la
BILE were compelled to sit up. In spite
Of the unlimited selling, his persist
ent buying compelled Ward Valley
steadily TO rise. and as Thursday APP
preached. the situation. became acute.
Something had to smash. How much
Ward Valley was this Kiondike gam.
bier going 10 buyi How much could
he buy7 What was the Ward Valley
crowd doing all this time? Daylight
appreciated interviews with them
that appeared--interviews delightfully."-
placid and non-committal. Leon Gug.
genhammer even hazarded the opinion
that this Northland Croesus might pos-
sibly be making a mistake. But not
that they cared, John Dowsett ex-
planned. 1T Is purely gambling from
beginning to end were Nathaniel Let.
toms words; land we refuse TO have
anything to do with II or to take no.
tice Of It In any way
During this time Daylight had sew
eral secret meetings with his partners
lone with Leon Guggenhammer, n
with John Dowsett, and two with Mr..
Howison. Beyond congratulations. they
really amounted 70 nothing; for. al he
was Informed. everything was going
satisfactorily. But on Tuesday morn
ing a N that was dis~concerting
came to Daylight's ears. 1t was also
published In the Wall Street Journal,
and 1t was to the effect, on apparently
straight inside information. that on
Thursday, whe,i the directors Of Ward
Valley met. instead Of the customary
dividend being declared, an assess
ment would be levied. 1t was the first
check Daylight had received. It caIns
to him with a shock that II the thing
were SO he was a broken man. And
1t also came to him that all this colos.
sal operating of hts was being done
on his own money. Dowsett, Gug-
genhammer and Lection were risking
nothing. II was q panic, shortlived, II
was true, but sharp enough while It
lasted To make him remember Holds.
worthy and the brick-yard, and to I'm.
pei him to cancel oil buying orders
while he rushed TO a telephone.
Nothing Id ~it--only a rumor,'
came Leon Guggenhammer's throaty
voice In the receiver. "As you know
said Nathaniel Letton, n am enc Of
the directors, and / should certainly
DO aware Of IT were such action con.
templated" And John Dowsett: II
warned Won against Just such rumors
There is not an iota OF truth iii IT.
certainly not. tell you on my honor
as d gentleman"
Heartily ashamed or himself for his
temporary loss Of nerve. Daylight re-
turned to his task, The cessation OF
buying had turned the Stock Exchange
into a bedlam, and down all the line
OF stocks the bears were smashing.
Ward Valley, as the apex, received the
brunt OF the shock, and was already
beginning TO tumble. Daylight calm.
liz doubled his buying orders.
And all through Tuesday, We'd
nesday and Thursday morning. hs
went on buying, while Ward VALLEY
rose triumphantly higher. Still they
sold. and still he bought, exceeding
his power to buy many times over.
when delivery was taken into account
What OF that? ON this day the double
dividend would be declared, he as.
sured himself. The pinch OF delivery
would be on the shorts. They would b.
making terms with him
And then the thunderbolt struck.
True to the rumor, Ward Valley levied
the assessment. Daylight threw UP
his arms. He verified the report and
Quit. Not alone Ward Valley. but all
securities were being hammered down
BY the triumphant bears. As for Ward
Valley, Daylight did not even trouble
to learn II 1t had fetched bottom or
was stili tumbling. Not stunned. not
even bewildered. while Wall Street
went mad, Daylight withdrew from the
field to think II over After a short
conference with his brokers, he pro.
ceeded to his hotel. on the way pick.
Ing up the evening papers and glanc-
ing at the headlines. BURNING
DAYLIGHT CLEANED OUT, be read;
GETS HIS; ANOTHER
WEsTERNER FAILS no FIND EASY
MONEY.
He passed up to his rooms, ordered
d Martini cocktail. took of his shoes,
and rat down to think. After half an
hour he reused himself to take the
drink. and as he felt the liquor pass
warmingly through bis body. life fea.
lures relaxed into d slow. deliberate.
yet genuine grin. He was laughing
at himself.
'Buncoed, by gosh" he rnnttered.
tTo BE coETINUED.)