Montpelier examiner. [volume] (Montpelier, Idaho) 1895-1937, 1911-06-09
BY LOUIS JOSEPH VANCE
Copyright, BY street . Smith.

nest-egg I've picked up here and there
In the last few days
How to get what we want Of these
holdings is, of course, for you to say
/ presume you've got to hammer st
Louis down to scare out stock from
the investors, and the street and Lon
don, but know you've got to put 1t up
i to get that 10000 shares from the
roads management. If you put it
| from 500 share, where it Is now, to
$11O. it will mean ten dollars share,
or 100000 in their treasury, II they
sell. They'll sell quick. They'll do
1t, too. for fear it'll go down again.
They'll sell 1t before It's listed on
the exchange for that takes 80
days.
You know what that means They'll
have sold something they haven't got
until the 80 days are up. In the mean.
time, they'll borrow, without knowing
It, our stock, the stock we've corralleG,
and when We call on them for it they
won't have 1t to give us and we can
make EN- settle for any figure we're
kind enough to name"
Pierce nodded appreciation of this
mine that was being laid for the I'M
wary management.
What about Bowman & Co.'S
stock?" he queried. They've got the
control"
He knew the answer before he ask
ed the question
Barr got up from his chair and
walked over to the screened window.
He looked out on the hurrying Wall
street crowd, mopping his face with the
handkerchief ends.
Pierce" he said, facing the manip-
ulator with quick movement, the
banking house of Bowman G. Co. will
sell that stock for the road They'll
sell short a big block of their own
stock at the price Wen put it to. ex-
pecting to get it back lower"
These and other essentials worked
out, Pierce sent for his personal
broker, William Hathaway, whose
standing in the street was Of the high
est, which is to say that his connec-
ton with Pierce was absolutely I'M
known. To him Pierce told as little
as might be of the business in hand,
and personally assumed all RESPONSE
bility for the deal.
1--WE got some information on
crops" Pierce explained, confiden-
TALLY. They're bad In the southwest,
and wen sell the granger roads in
that territory, as they depend on crops
for earnings. st. Louis Southern
ought to feel It most. This Is Thurs
day; you sell $4,000 shares of the
: other three southwest roads and 10000
of st. Louis. Well buy back our short
, stock when st. Louis reaches 90, seven
: points under Its present price. If you
have to sell more to break the market
down, go ahead, but be careful about
: raising suspicion"
) The broker hurried away, proud OF
; his supposed possession OF the "old
} mans" confidence, and Pierce ar
> ranged through other brokers for the
: purchase Of the bulk of the stock
: Hathaway sold and all the ST. Louis
Southern that frightened holders
> might throw over on the break.
3 The well-planned attack had imme.
= date effect. The grangers, including
q st. Louis Southern, had broken III
5 points at the close and on Friday
t when the bears had joined the move
+ ment, they broke still further, big stop
r loss orders having been reached at 81
In st Louis, which closed at 96k. Or
r Saturday sales of 10000 shares of st
o Louis for London account and a bad
) statement by the banks. whose re
t sources had been depleted through
t, cash Withdrawals by Barr's Chicago
b banking friends, Offset dispatches iron
O the maligned west telling of bumper
}. crops. The financial writer's ascribet
o the weakness to a bear raid for quicl
a profits, SO skilfully had Pierce con
y cealed its real object.
st. Louis Southern touched 8;
n shortly after the bank statement wal
K issued, but rallied sharply at the Gloss
g to 94M. The floor said the rally wa
If due to evening up purchases by tn,
IS bears, but 1t really came from whole
. sale buying by Pierce's unknown
10 brokers. st. Louis Southern had beer
put down seven points without aroua
n ing suspicion, and the shrewd manipn
n lator felt that he had shaken out n
III muCH HCAk bbOCh Cd SOoA0 10 di0
= with impunity.
W After the close of the market Pierc
"a went down to Sheepshead Bay t
% watch one OF his horses win the Sea
q side stakes. In the paddock before tn
+ race he met Barr. who was LOOKING
h over Chelton, the western champion
that his Chicago friend, James E
,e Blake, had brought east to meet tn
M seasons cracks.
q WELL" said Barr, ambiguously
al hopping his face as usual. you goin
}. to win-ths Seasidef"
N 81 usually win - everything" ar
IT swered Pierce. laughing. And tn
n. two men laughed together and ser
10 arated.
10 On Sunday night Pierce met Bar
N by appointment at the latter's apart
" ment in an uptown hotel. The maniI
ulator had with him a memorandum
re of his operations on the bear side Q
Is the deal. just closed.
ty pretty bad market the last tire
as days, Pierce" said Barr, with
X chuckle. did you buy any stocks o
=" the break?"
n II bought considerable st. Loui