Montpelier examiner. [volume] (Montpelier, Idaho) 1895-1937, 1911-06-09

and sell some Of my personal holdings.
I'm sure I'D 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 1t easily enough meantime"
And It was this same afternoon, q
hot Tuesday of July, that Barr stood
over the ticker In his Wall street Of
fee 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
naturally.
For st. Louis touched 106 at one
o'clock. and Carruth began to sell. The
ever watchful Pierce detected this
selling as soon as 1t began, and hur-
ried message, almost congratuiatory.
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 "nerv-
lest poker player west Of Chicago"
Longitude is trivial thing in a
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 1t was safe
ly in the hands of Pierce's brokers,
who had kept 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 it had held well
closing at 1861 on Wednesday. Pierce
had also taken in some 5000 shares
sold Dy the arhitrage 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 108, and in explanation OF
the rise were offered stories Of in
creased dividends, and the cutting of
melon for the stockholders, which
is the streets way of describing an Is
sue of new stock at price under the
market.
Floor members tolephoned the ru-
mors to their houses, and the reporters
went to Bowman to confirm or deny
them.
II have absolutely nothing to say
the banker told the newspaper men. in
his familiar, family tradition manner
and convinced of the truth of the
stories, they rusned the news to their
papers. st. Louis Southern began to
climb.
4 Bowman sent in haste for Carruth
who was on the floor of the ex
change.
ut seems, Mr.. Carruth," he said
that a foolish rumor of melon cut
ting or dividend increase in st
Louis has gained Roadway and the
stock is going up. There is absolute
ly no truth in either story, of course
but while the stock is up on these
stories, think you had better put out
the other g. 90 shares of treasury
stock. Wait a moment. please"
Bowman stepped quickly to the tick
er, which was recording the climb o.
st. Louis. It was at 109. In the 81
lence of the banking room 1t was al
II Pierce were In person holding GU
J to the banker In his withered hands
the golden apples of the Hesperides
And the banker grasped for them
He had been pouring millions into
vast scheme for the control of thu
. traction systems of three big western
. cities; family tradition had driven hin
into the building of palace at New
port; his extensive racing stable, hi
J greater pride, had been running heav
lily behind at the various meetings
, II he sold 10000 shares of his owl
stock at ITO it woulo mean $500, 900 Il
cash to him at once, and he felt tina
he could regain 1t as soon as this ali
surd bubble of melons and dividend
J had been pricked. No one but Car
ruth would know. and he was boun,
/ to silence by self interest.
: Bowman sighed little. He turne,
to the waiting broker.
"Carruth," he said. slowly, ''if tn
: market will take It, you may sell 60
} 600 shares for my personal account
I'm finally bear on my own road
! you see," and he tried hard to fore
a laugh to go with the jest.
Carruth hurried back to the fool
} and before the close, by the aid of tn
favorable rumors regarding the roat
i had put out $4,000 shares. The sale
! for the day were over 10000 shares
: and the stock closed at 10, the higl
est figure.
I Friday brought forth long. detaile
stories In the morning papers of grea
9 things impending in st. Louis Soutl
ern, to all of which the roads mani
1 gers, including Bowman. had refused
+ SO ran the stories, to give denials.
was limited by enc paper that the r,
o cent activity in the stock had bee
Q due to buying for control by compe
b ing road. the Mississippi Central
s The stock at once became the fe,
s ture OF the trading. It opened 9
Z 110h, one-half of point over Thur
q days close, on a sale of 1000 share
T. by Carruth's brokers. This was take
by q broker acting for Pierce. as wa
n the block of G. 600 shares which follow