The Nevada County picayune. (Prescott, Ark.) 190?-current, 1911-06-02

ou MOuudJ the SlOCh JDuCubu lOO
Bowman met by appointment at lunch
con two of his fellow members of the
executive committee of the St. Louis,
and they had agreed that 1t was good
time to put out the $4,000 shares OF
stock In the treasury
1T is difficult to tell how long this
movement will last" said Bowman,
who was nervous little man with
family traditions, social ambitions and
big racing stable. It's those west
ern gamblers, Of course. and it might
not be bad Idea to take advantage OF
their foolish bulling
If we put out 10000 shares OF the
stock at 106 that will mean s1S0,000
more than we could get at par, and
If 1t goes farther we can put the 9th
er 10000 out, too
The board of directors met the Same
afternoon. They authorized the issue
of the stock and put it's sale, which
was to be secret, as the new shares
would not be good delivery to buyers
for the prescribed 80 days, in Bow
mans hands. 1t meant commission
of two per cent, or $4,000, to Bow
man & Co.
On the following morning Bowman
reached his office earlier than usual
and sent for Walter Carruth of the
stock exchange firm of Carruth & Hen
drie. who handled all OF Bowman &
Co.'S exchange business. The mar
ket had just opened and he was at the
ticker when Carruth entered
Mr. Carruth," Bowman said at once,
Il see that the market Is very strong,
and that st Louis Southern has open
cd at 1858. The directors of the st.
Louis have voted to sell $4,000 shares
of stock now in the treasury, and this
seems a good time to put it out. Do
you think the market will take 10000
shares around 1862"
Easily, Mr. Bowman This market
Is so broad and strong that It would
take the entire issue and advance on
it, | believe" Carruth believed this
fully, and, besides, the sale of 10000
shares meant a commission of $500
for his firm.
That is also my belief. but we'll
put out 50, 900 shares first AS much
as you can of It today. If 1t touches
LOG. I cant believe 1t will go much
higher, but we'll try it anyway.
Il think the entire market Will go
higher, Mr. Bowman" said Carruth, as
he rose to go
Bowman laughed a little.
Well if 1t does, Mr. Carruth.
STALL be sorely tempted to turn bear
and sell some of my personal holdings.
I'm sure Id get them back lower,
by the way, think YOU had better
give up your name as the seller. 1t is
best to keep the road out OF the mat
ter. as 1t will be some time before we
can deliver the new stock. You can
borrow It easily enough meantime"
And 1t was this same afternoon.
hot Tuesday OF July, that Barr stood
over the ticker in bis Wall street of
nee and listened to the message of the
busy little machine, which told him
in pleasing words: You've got him ="
words which the watching man
transposed into I've got him." quite
MAUI ally
For ST. Louis touched l06 at one
o'clock, and Carruth began to sell. The
ever watchful Pierce detected this
selling as soon as it began. and hur-
ried a message, almost congratulatory,
to Barr with the information.
With the crumpled message in his
pudgy hand, Barr lowered over the
ticker his eyes shining but otherwise
as cool as you would have the merry
lest poker player west of Chicago"
Longitude is a trivial thing in
game of chance.
Through Tuesday afternoon and all
day Wednesday Carruth sold St Louis
Southern. AT the close OF Wednes-
day he had put out the 10000 shares
of management stock. and it was safe
ly in the hands of Pierces brokers,
who had KEEP the stock so easy TO
borrow in the loan crowd that no
thought had been raised of the accu-
mutation.
Under the manipulator's orders the
stock had declined automatically on
the heavier sales, but in company with
the whole market 1t had held well,
closing at 1868. on Wednesday. Pierce
had also taken in some 5000 shares
sold D. the arbltrage house for London
account.
On the floor of the exchange shortly
after noon Thursday rumor gained
way that something good was coming
out on ST Louis Southern. The stock
had touched 10S, and in explanation of
the rise were offered stories OF in
creased dividends, and the cutting OF
a melon for the stockholders, which
is the streets way of describing an Is
sue of new stock at price under TIE
market There were attractive de-
tails as to the sweetness of the melon.
Pierce was famous imaginative art
list
Floor members telephoned the ru-
-