Montpelier examiner. [volume] (Montpelier, Idaho) 1895-1937, 1911-06-09
l didn't dare cover them on


Saturday.
with your 10000 we've got now TO-
900 shares Of st. Louis and can count
safely ON the 10000 the management
will be induced to put out. That
makes 10000 shares, and we need
only 100000 additional to give you
complete control"
A sudden wave of anger swept him;
he was again the old hardware drum,
mer:
Damn him." he cried, damn himl
I'll take his railroad from him like
you'd take toy from kid. I'll make
him ashamed to show his face in the
street here, where he was fooled out
of his road, and at his club, where he
blackballed the man who was smart
enough to do it."
"Old PIERCE" as New street called
him with blind affection, left the Of
fees of Willis. Barr & Co. by the back
door, with a smile like sleeping In
fant's on his narrow, clear-cut face.
The task was no less to his liking be-
cause Bowman's crack filly Altar had
beaten his own Boxwood In the last
Suburban.
Point by point the manipulation went
over the details of the deal, and 1t
grew under his hand like battle plan
under that Of general. The bulk OF
the money needed Barr was to get in
Chicago, among his banking friends,
SO the local banks might have no ink
ling of the matter. The controlling
stock, Pierce figured, ought to be OBJ
tanned at about $40 share, which
meant $25,000,0O0. all but $5.000,000 of
which would be obtained on loans on
the stock bought. Commissions to
brokers for buying the stock, and for
purchases and sales of other stocks to
manipulate the market would call for
about 100000; for Pierce received re-
auctions from the brokers in spite of
the strict exchange rules. The enor-
nous orders he distributed in his ma
nipulations would tempt any broker to
break any number Of rules.
Barr sighed contentedly and settled
back to his big chair He seemed loath
to break the chain of pleasant thoughts
the manipulators words had brought
to him. The light from the shaded
electric table lamp fell on his face,
which was round and boyisb, but for
the light, half-grayish mustache.
Well" he said, finally, what next?
Up?"
YES, up. Well lead the manage
ment of the road into temptation and
wen draw out $4,000 shares from Lon
don, where they love a speculation,
and from the street, which is Joined to
it by bonds Of unholy Nedlock. In
vestors won't sell on a raise, and Wen
have to get the other 10000 shares
for control"
You get that and more from Bow
man." broke in Barr. Il want to see
some stock with his name on the back
of it."
The market opened up on Monday.
The financial writer's told how base
less, really, had been the previous de-
cline, and limited at bear raid for
quick profits. Good crop news and
splendid earnings tumbled into the
market and SO restored confidence
with little help from the kindly dis
posed Pierce-that by Thursday the
. list had climbed back to its level be-
fore the raid and st. Louis was selling
at 100 again.
Therefore, for two weeks. that
seemed as many years to Joseph w
Barr, hungry for revenge. Pierce pa.
tiently and persistently bulled the
market
1t was only st. Louis Southern that
Pierce actually bought and he took all
that offered. On Monday, two weeks
under way, he saw Barr for moment
I and told him 10000 shares had come
in on the movement.
81 can't find any of the management
. stock, although St. Louis is now al
( los, Pierce concluded. II don't dare
3 put 1t up faster It would rouse sus
) picion." And Barr had to admit this
impatient as he was.
r In the banking house of Robert Bow
3 man & Co. the strength of ST. Louis
! Southern had not passed unnoticed
, its slump in the downward movement
: had been accepted as part of the gen
= eral bear raid.
7 On Monday the stock touched los
a Bowman met by appointment at lunch
!. con two of his fellow members of the
4 executive committee Of the st. Louis
J, and they had agreed that 1t was a goot
h time to put out the 10000 shares o.
o stock in the treasury
n cit is difficult to tell how long TIL:
r movement will last" said Bowman
who was a nervous little man witt
k family traditions, social ambitions ant
l. big racing stable. Its those west
ern gamblers, of course, and it Nigh
3 not be bad idea to take advantage o
5 their foolish bulling.
9 IF we put out 10000 shares of tn,
8 stock at 106 that will mean $180.00l
Q more than we could get at par. AM
) II It goes farther we can put the 9th
n er 10000 out. too"
n The board of directors met the sam
= afternoon. They authorized the issu
T. of the stock and put its sale, whicl
8 was to be secret, as the new share
. would not be good delivery to buyer
for the prescribed 30 days. in Bow
e mans hands. It meant a commission
o of two per cent, or 100000, to Bow
y man & Co.
IA On the following morning Bowmaj