The Republican journal. [volume] (Belfast, Me.) 1829-current, 1914-03-05
CHAPTER V.
MYSTERIOUS MOVEMENT IN CoPfERS.
PANIC VICTIMS.

PANIC VICTIMS.
Wendell went into the main office,
passed the Copper certificates to the
Stock Clerk and received a receipt for
them. Then he explained to one of the
partners his plan of operation for the
next morning, and gave lis instructions
to the Curb broker.
Il wish you to pick up twenty five or
fifty shares of Cornucopla around ten
dollars. Start it high. bid it up quick,
and be very mysterious and retlcent
about your information. But get the
stock Then, as the market becomes
active, as it will, traders will tumble
over each other to get some of the
shares, and you must feed it out eau
tiously above ten dollars until you have
sold four hundred and fifty shares. Sup
port it on moderate raids, and sell all
you have when it rallies.
''All right, sir. | see your move.
will hold the market up until we unload.
| feel already that Cornucopia is going
to boom tomorrow. A very mysterious
move on the part of an insider; ha, ha!'
The result of this conspiracy was, as
the markets held firm during the morn
ing, that Hackett's stock was snapped
up quickly, and belated traders thought
they saw boom symptoms and wanted
some Cornucopia as never before. The
stock rose to twelve and one quarter.
Hambright and his friends did not re-
cover from their surprise in time to sell
much. The advance Melted handsome
profit for Miss Patterson, and Miss Wes-
ton sold out at the top,
Wendell kept silent and sold other
stocks short for her account with his
brokers, using tine house telephones to
keep in touch with the Curb.
Hackett telephoned to Wendell just
before noon: "Hambright 'phoned, Who
in the devil is selling so ruch Cornuco-
pia?' / replied, The Devil, guess; but
you can learn tomorrow, when the GER
tifcates come in for transfer.
All of the markets went down rapidly
after luncheon; prices slumped shame
fully until the close, and the last sale OF
Cornucopia was recorded on the swiftly.
running tape at seven and a quarter.
Hackett was jubilant, but kept discreet
ly silent. Havoc was wrought among
the wounded of the previous day, who,
supposing they had caught the bottom
prices, doubled their purchases to recoup
their losses, only to see lower figures,
diminished margins and disaster. They
continued to buy on declines and to sell
at loss until some quit for lack OF
money, some from lack of nerve, and
some to prevent themselves from going
mad.
Heavy capitalists suffered with the
weak ones. Enormous losses were In
Cured on the long side Of the market.
Short sellers could not reap great riches
because they were dumbfounded and puZ'
zled by the causeless panic, and theil
credit was curtailed b. the banks. The
latter had as much as they could do to
protect their vaults from complete de-
pletion. 1t was ''sauve qui peut.
Chapman that the slim man, who haC
tainted, was down with a fever; Lam
bert had died from angina pectoris; Low
had passed on after an operation for ap
pendicitis; G,nter had gone higher from
acute meningitis to learn why his spirit
ual impressions mad been deceitful, ane
the Shelter man had mortgaged hit
house to nav his debts and foresworr
speculation forever.
Other disasters and fatalities came t.
notice frorn day to day, and continued az
aftermath to teach the futility of ordi
nary men trying to beat the system ii
Wall Street.
The vehement blasts of politicians ant
socialists that had brought on the panic
were stilled by the expostulatlons o.
business men and the curses of victims
The heavy capitalists induced the gener
al Government to cease its attacks up0I
corporate interests. The public credi
was gradually restored to its norma
conditions. The pendulum swung Owe