Morgan County republican. (Versailles, Mo.) 1906-1914, 1911-12-14


the North. had come to New York.
what had he come fort To trim the
New Workers as he had trimmed the
Ionopah crowd in Nevadaf
They we're prepared for him to play.
and. when heavy buying Of Ward Val
leg began. It was quickly decided that
ne was the operator. Financial gossip
buzzed and hummed. He was after
the Guggenhammers once more. The
story Of Ophir was told over again
and sensationalized until even Day.
light scarcely recognized II. Still. It
was all grist to his mill. The stock
gamblers we're clearly befooled. Each
day he increased his buying, and 20
eager we're 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 a
never gambled before. but he was
gambling at the biggest table in the
world for stakes SO large that even
the ca~se.hardened habitues Of that Ia
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 ap-
preached. tho situation became acute.
Something had to smash. How much
Ward Valley was this Klondike gam.
bier going to buy? How much could
he buy? 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 IL purely gambling from
beginning to end" were Nathaniel Let
toms words: "and We refuse to have
anything to do with It or to take no
tice OF 1t In any way"
During this time Daylight had sew.
eral secret meetings with his partners
one with Leon Guggenhammer. n
with John Dowsett. and two with Mr..
Howison. Beyond congratulations. they
really amounted to nothing; for. as he
was informed. everything was going
satisfactorily. But On Tuesday morn
ing a rumor that was d~isconcerting
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, when the directors OF Ward
Valley met. instead Of the customary
dividend being declared. an assess.
ment would be levied. 1t vas the first
check Daylight Ind received. 1t came
TO him with a shock that II the thing
were SO he was q broken man. And
it also came to him that all this colos-
sal operating Of his was being done
on his own money. Dowsett. Gug.
nothing. 1t was a panic, shortlived. It
was true. but sharp enough while 1t
lasted to make him remember Holds
worthy and the brick-yard, and to i'm.
pei him to cancel all buying orders
while he rushed to a telephone.
Nothing in it-only a rumor."
came Leon Guggenhammer's throaty
voice in the receiver. las you know"
said Nathaniel Letton, Il am one Of
the directors, and | should certainly
be aware Of 1t we're such action con.
templated." And John Dowsett: IL
warned You against just such rumors.
There is not an iota Of truth In It
certainly rot. ] tell you on my honor
as a gentleman"
Heartily ashamed OF himself Tor 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 10 tumble. Daylight calm
ly doubled his buying orders
And all through Tuesday. Wed.
nesday and Thursday morning, he
vent on buying. while Ward Valley
rose t~riumphantly higher. Still they
sold. and still he bought. exceeding
his power t o 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 DO
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 still tumbling. Not stunned. not