Gilpin observer., 1912-02-15

What had he come for? To trim the
New Workers as he had trimmed the
Tonopah crowd in Nevada?
They were prepared for him to play,
and, when heavy buying of Ward Val
leg began, it was quickly decided that
he was the operator. Financial gossip
buzzed and hummed He was after
the Guggenhammers once more. The
story of Ophir was told over again
and sensationalized until even Day
light scarcely recognized it. Still, it
was all grist to his mill. The stock
gamblers were clearly befooled Each
day he increased his buying, and so
eager were the sellers that Ward
Valley rose but slowly. A wildly ex-
citing time was his during the week
preceding Thursday the eighteenth.
Not only was he gambling as he had
never gambled before, but he was
gambling at the biggest table in the
world for stakes so large that even
the case-hardened habitues of that ta-
BILE were compelled to sit up. In spite
OF the unlimited selling, his persist
ent buying compelled Ward Valley
steadily to rise, and as Thursday ap-
preached, the situation became acute.
Something had to smash How much
Ward Valley was this Klondike gam
bier going to buy? How much could
he buy? What was the Ward Valley
crowd doing all this time? Daylight
appreciated interviews with them
that appeared-interviews delightfully."-
placid and non-committal. Leon Gug-
| Senhammer even haZarded the opinion
that this Northland Croesus might pos
sibly be making mistake. But not
that they cared, John Dowsett ex-
planned. 1T is purely gambling from
| beginning to end" were Nathaniel Let
tons words; "and we refuse to have
anything to do with it or to take no.
tice of it in any way"
During this time Daylight had sew
eral secret meetings with his partners
One with Leon Guggenhammer. one
with John Dowsett, and two with Mr..
| Howson. Beyond congratulations, they
really amounted to nothing; for, as he
was Informed, everything was going
l satisfactorily. But on Tuesday morn
ing rumor that was disconcerting
came to Daylight's ears. 1t was also
published in the Wall Street Journal,
and 1t was to the effect, on apparently
straight inside Information, that on
Thursday, when the directors of Ward
Valley met. instead of the customary
dividend being declared, an assess
ment would be levied. 1t was the first
check Daylight had received 1t came
( to him with shock that if the thing
we're so he was a broken man. And
it also came to him that all this colos-
sal operating OF his was being done
on his own money. Dowsett, Gug-
genhammer and Letton were risking
nothing 1t was panic. shortlived, it
was true, but sharp enough while it
lasted to make him remember Holds
worthy and the brick-yard, and to i'm
pei him to cancel all buying orders
while he rushed to telephone.
Nothing in it-only rumor,"
came Leon Guggenhammer' throaty
voice in the receiver. "As you know"
said Nathaniel Letton, Il am one Of
The directors, and | should certainly
be aware of it were such action con.
templated." And John Dowsett: 81
d.
There is not an iota of truth in it
certainly not. l tell you on my honor
as a gentleman"
Heartily ashamed OF himself for his
temporary loss of nerve, Daylight re-
turned to his task. The cessation Of
buying had turned the Stock Exchange
INTO bedlam. and down all the line
Of stocks the bears we're smashing.
Ward Valley. as the apex, received the
brunt of the shock, and was already
beginning to tumble. Daylight calm
ly doubled his buying orders.
And all through Tuesday, We'd
nesday and Thursday morning, he
went on buying, while Ward Valley
rose triumphantly higher. Still they
sold, and still he bought, exceeding
his power to buy many times over,
when delivery was taken into account.
What OF that? On this day the double
dividend would be declared, he as
sured himself. The pinch of delivery
would be on the shorts. They would be
making terms with him.
And then the thunderbolt struck.
True to the rumor. Ward Valley levied
the assessment. Daylight threw up
his arms. He verified the report and
quit. Not alone Ward Valley. but all
securities were being hammered down
by the triumphant bears. AS for Ward
Valley. Daylight did not even trouble
10 learn II 1t had fetched bottom or
was still tumbling. Not stunned. not
even bewildered. while Wall Street
went mad, Daylight withdrew from the
field to think 1t over. After a short
conference with his brokers. he pro-
ceeded to his hotel, on the way pick
ing up the evening papers and glanc-
ing at the headlines. BURNING
DAYLIGHT CLEANED OUT. he read; (;
DAYLIGHT GETS HIS; ANOTHER
WESTERNER FAILS TO FIND EASY
MONEY.
IL kt