The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1912-08-04

lot of blast furnaces in operation. 1t has
fourteen coal mines that are working now.
that are turning out millions of tons of
coal On its lands there are several towns,
all the lots of which the company owns.
The value of the lands is double the cap
italzation of the company. 1t will be
quadruple when the development work
projected is put through. In addition to
all this the company owns one of the big
gest clay deposits in America and it has
brick plants that turn out 10000 brick a
day now, and that will turn out ten times
as much when the plant is extended. The
stock is selling around 70. 1t is going to
$50 within six months. 1t will go to 200
within a year. The pool will not liquid
ate share under 125. There Is so points
profit in this for you. There is more for
me, for between you and me. ] got in on
the ground floor I expect to make a
million out of It,"
Waddel was glowing. There was no
doubt OF his sincerity Briggs was deeply
ly impressed. He made hasty mental
impressed He made hasty mental cal
culation of what he already could employ
him the account would have to be well
margined for Keene had his cwn way of
manipulating a stock. Sometimes he let
1t follow the course OF the market. Some
times he sent 1t along at a rapid pace.
Occasionally when he found it profitable
to do so he drove the price down so fast
that it seemed as II the bottom was
dropping out altogether. Ther he picked
it up again That was the way he made
ha al 10 falfnuye of
Wall Street. the generals. the colonies and
the prlyates and the camp followers, pay
tribute Briggs would have to be prepared
to sit tight from start to flash. He was
not to be carried away by the prospect of
reaping immediate profits IL there was a
sharp advance and getting aboard later
on one of the depressions. lie was not
to be dismayed, either, If there should be
a sharp decline. He should enlist for the
campaign or not at all. and If he stayed
to the finish he would have his reward,
and have 1t big.
Briggs got aboard for 800 shares OF CO.
lumbus & Hooking that day He determ-
ined II was make or break on that one
deal. He determined. too. 70 put in every
dollar he could get hold OF. That night
he read up everything he could obtain
bearing on Columbus & Hooking. What
he read strengthened his confidence in
his business that he could He borrowed
form his bank He borrowed from his
friends, mortgaged his house and put some
Long Island property that he had been
holding for years on the market for sale
1t was nearly a week before he could
get all this money together. Meanwhile
Columbus & Hooking had advanced five
points. II was agonizing to Briggs to
see the stock go up while he vas delayed
getting the money. Waddell had insisted
on 10 points margin. He had advised 90
but thought 10 was safe. Briggs got 500
Columbus & Hooking at 1917. He almost
was In fever when he got the report OF
the purchase. Waddell laughed at him
Then, seeing low Briggs face and hands
were twitching, he said. "Bnck up, old
man. Look at this" This" was a pri.
vate memorandum book In which Wad-
dell had his entries Of Columbus e. Hook
| ing. 1t showed he was carrying three
times as much OF the stuff as Briggs, and
that he had purchased 1900 shares the day
before at IS.
| The tea. coffee and spice business got
| little attention from Briggs for good
many weeks thereafter He went to ths
| office as usual and tried to 20 through the
regular routine, but he could think OF
| nothing but the stock market. Every
| time the telephone bell rang lie was in q
| flutter, and II 1t did not ring when he ex-
| pected he became excited. lie called ur
| Waddel half dozen times betwee II
| a. m and Q p. m. Once or twice each tla )
| he went to the office of Pulver e. Gradon
When the stock advanced above 80 he was
| tremuIous with joy and fear. AT SO he
! wished to cash in. but he was ashamed 10
make such suggestion to Waddell. Al