Wauwatosa news. [volume] (Wauwatosa, Wis.) 1900-1948, 1912-01-12

the North, had come to New York.
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
ne was the operator. Financial gossip
buzzed and hummed He was after
the GuggenhaImers once more. The
story of Opnir was told over again
ant sensdtionalized until even Day
light scarcely recognized it, Still, it
was all grist to his mill. The stock
gamblers We're clearly befooled. Each
day he increased his buying, and so
eager We're 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 ease-hardened habitues of that ia
bic We're 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 ppeared-interviews delightfully."-
placid and non-committal. Leon Gug-
genhammer 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
toms words; and we refuse to have
anything to do witt il 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.
Howison. Beyond congratulations, they
really amounted to nothing; for, as he
was informed, everything was going
satisfactorily. But on Tuesday morn
/ ing a rumor that was disconcerting
came to Daylight's ears. 1t was also
published in the Wall Street Journal
! and it 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
! were so he was 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, shortliyed, 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 a telephone.
Nothing in it-only rumor,"
came Leon Guggenhammer's throaty
voice in the receiver. las 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: Il
warned You against just such rumors.
| 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 a bedlam. and down all the line
of stocks the bears were 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 lin.
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
to learn if it had fetched bottom or
was still tumbling Not stunned, not
even bewildered while Wall Street
went mad, Daylight withdrew from the
field TO think it over After a short
conference with his hr0kprc ba rro