The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1911-06-04

.fssss1S
I.RE11ExBER THAT RAvr wARSED pou."
not intrust 1t to a bank In BOrmal
times bank is a safer place than a
hole in the ground for money, but not
IN these times"
Except for the enc trife that cur
reDcy Is a little tight, I see no cloud
On the horizon"
81 am a better financial weather
prophet for this one time than the
Wall Street Journal" declared Phillip
confidently. In a very few days I
VIII show you a cloud that will cover
this entire district like a blanket OF mid
night. I know something, tell yo1."
This was the fourth or fifth time
since he had first come into the Of
fee that young Kelvin bad ventured
such dire predictions, and in spite of
the fact that. except for the growing
scarcity Of actual currency. there was
no hint or trace of trouble to come,
Henry GaIleon began to be q trifia i'm
pressed by them, 80 much so that he
began speaking OF the matter TO 9TH
ers Of his kind In the Offices of
Raieigh & Raleigh. Of Wilde &
Co., Of Booker & Watson and Of
R. F. Eldridge, the other brokerage
concerns that were acting as Kelvins
agents. Phillip dropped the same seed,
and from these FIVE centers, aided by
Rensselaer,, there gradually radiated
a note Of inquiry. Was the market in
q really healthy condition. Was there
an impending break2 No one could
tell.
In the meantime Kelvin steadily sold
his twenty stocks In 1000 share lots.
He became known as the leash bear"
and there were Dozen conflicting sto-
ries as TO how he had got his money.
Young Eldrtdge took a great fancy
to him and before he had been on
the market a week had him In at Ker-
rvs for dinner With a lot OF the big
guns Of the market It was discovered
that Kelvin distinctly knew how 10
comport himself In any company. The
only thing Of note he said during that
dinner was that he confidently looked
very shortly for the biggest crash In
the history OF the street They heard
this remark in amused silenea, but In
the main they liked him. Rollins, one
Of the conservatives Of the railroad
group and Of vast experience, was
the only one who studied Kelvin Sc
rIously.
"On what do you base that queer
prophecyf' he wanted to know.
'Pm not ready % tell you just yet"
returned Phillip. smiling, but it Is
coming"
81 know why" put I'm PeEman, one
OF the more reckless operators of the
railroad group. ITS because our
young friend is on the short side OF
the market for all the real cash IN the
country. There must come a panic"
They were quite CONTEXT 10 laugh at
Kelvin. He was necessarily green"
being young and new TO the street
Rollins got Phillip to one side after
the dinner.
I'm very curious about the slump
you predict" he said. IT hope it's
true. ! want to buy some railroad
stock. and it can't go any too low to
suit me-"
Phillip looked at him In musins 81
hence. He liked Rollins, a clean, well
set up man, with a clean life and an
honest one written all over him
"YUu buy outright only. believe,
Mr.. Rollins" he observed
Outright only" replied Rollins.
Then wait. There viii be some
bargains by and By" declared Philip,
so seriously that Rollins was Inn
pressed
Kelvin had been IN the market more
than a month. steadily selling all that
time, when one evening IN a private
dining room with almost the same
crowd Rollins found that he had no
cash and sent down a check to the
manager with a request that he send
up the currency. The manager him
self came up with the check In hand
and very much worried.
"Very sorry, Mr.. Rollins" said he.
'but I have not the currency in the
house We have had no currency to
speak of for several days. l don't
know why it is. but there seems to be
a tremendous scarcity Of cash"
what seems to be the matterT
81 don't know, sir" responded the
manager. Trade was never better.
Our regular customers seem to have
plenty of money, but no currency.
don't believe I have seen a thousand
dollars in cash In q week. except what
drew myself for our payroll here"
'4That seems TO be a general com
piaint" remarked Pellman after the
manager had left the room There Is
a scarcity OF money everywhere. Yes-
terday my check was refused at two
hotels. I.don't understand It"
Il can tell you." said Kelvin quietly.
within the past year nearly billion
dollars OF actual currency has been