Montpelier examiner. [volume] (Montpelier, Idaho) 1895-1937, 1911-06-16

later by purcnasfs at lower ngures.
This preliminary move netted him
some six thousand shares. and then he
put under way raid on all the trac-
ton group of stocks, which served the
double purpose of depressing Suburban
and yet Of concealing the real move
ment against It.
The raid on the fractions began on
Monday, three weeks after Bars re-
turn from Palm Beach. 1t was accom-
panied by many lurid stories of an
tagonistic measures to be taken by the
municipal authorities regarding fran
chises, collections of back taxes, suits
to compel big expenditures for changes
OF motive power to electricity. and
other inventions calculated to bring
dismay TO holders Of traction stocks.
And all these fables, by the grace Of
p j. Milligan. were backed up by the
expressive silence Of the Tammany
city authorities.
Through these stories, and by the
sheer impact of the thousands of
shares OF traction stocks hurled at a
frightened market, Barr drove prices
down notch after notch. until on Wed
nesday all the fractions were away of.
The usually sedate Urban had lost
four points, and Suburban. the object
of the drive. had fallen eight points.
dropping from ninety to eighty-two In
three days. while the little mans bro
kers gathered In sixteen thousand
shares.
On Thursday morning, as Barr had
foreseen. the Suburban directors met
and reduced the dividend on the com.
pany's stock from four to two per cent
On the floor of the Exchange, follow.
ing this announcement, an avalanche
of traction stocks, loosened from their
moorings by Barr, struck the market
and the entire groap fiuttered toward
lower figures like mammoth balloon
despoiled of It's gas.
Barr was lowering over the ticker In
his inner office, hopping his face as
usual, when the announcement came OF
the Suburban dividend cut He scanned
the tape until 1t printed off a three.
point drop in the stock, and then clap
ping his hat on his head he made his
way down Broad street to the Offices
of President Schlimbinger of the Su
burban Trolley company
Once in the presence of that har
assed German gentleman he came
straight to the point
Some clients of our house, Mr.
Schlim-binger. have commissioned us
to try to get your holdings of Suburb
an Trolley. don't know that you care
i - Nd fe4a - al 49,
didn't think too much of the stock as
purchase. It's lower now. as | pre-
dicted, than the figures they are will
| ing to pay you"
Barr fumbled about in his pocket q
moment. and drew out check.
Yes You've got forty thousand
shares of stock. It's deposited as col
lateral with trust companies for loans
amounting to exactly three million two
! hundred thousand dollars. The stock
is selling now. or was ten minutes ago
at seventy-nine. which makes your
forty thousand shares worth forty
thousand dollars less than the amount
of your loan. II the trust companies
haven't already sold you out. because
Of your exhausted margin. on behalf OF
my clients offer you this certified
check for your equity over the three
million woshundred thousand dollars
you've borrowed"
Barr put the little piece Of paper in
the trembling hand of 5chlimbinger
The mans face lighted up with Joy.
Its one hundred and twenty thou
o Ae: dollars" he said slowly.
neoV lid Barr bitterly: twice toe