Ellsworth American. [volume] (Ellsworth, Me.) 1855-current, 1916-10-25
He Got Hold
Of the Wrong
Stenograpl1er
By EDWARD T. STEWART

rose wool desk when an oiiicia entered
IA reply 10 tap ON his silver bell
| IIant:in- the subordinate letter. be
rsid:
Take taat into the Office of the com
ially's attorney and tell him to treat II
I IN E:.e usual Way.
The letter WIS from younr woman
w,iu made hef EvAse by stcnosraphy
ali,. t.pewrisinc She hai Travelled on
,,se Of the conpany's traits. and as II
vas nearing 1Le station stood ~ the
cor. hrac.i,g herself against the car
ps. 'liss engineer stols4eu the train
sue. ieuly ard sbe car door slammed
fingers, The injury ended her ability
to make her living as she had been do
ing 1t. She ASKED the President OF the
rold II he would indemnify her. The
usual way" referred to by him was
TO get an offer to settle. then pigeon,
hole H. This was done. and. the girl
having refused To settle for song.
heard nothing more from the com
rany's attorneys.
A few months after the pigeonhoiing
VI the girls offer the president sent for
his stock broker and said to him:
"S.r Barker. | have noticed very
slow rise for n month past of the shares
OF our road l know Of nothing to naf
then up. Our menthiy statement shows
some falling OF IN the earnings. and
there IL some doubt about our main
tanning the regular dividend Can you
explain the rise In view Of the factsy
Air. Barker could not explain the
rise. He thought that some person was
manipulating the stock putting II up
for the purpose Of making money on II
wien II went down again.
Please sell thousand shares for
my account continued the president.
"ani every point the price Of the stock
rises. sell another thousand shares
The result OF this order within cou
pie OF weeks WINS that the stock went
up Eve points. and the president was
short Of II 5000 shares. That means
that he had sold shares which he did
not own ut less than the market price
When the stock declined To figure be-
low what be had iaid for II he wo;.h
buy II and make the difference. As
its president, he knew that the stock
was not worth what be sold II for aud
did not doubt that he would make a
good thing OF the transaction.
But the stock did not go down. In
stead 1t continued to rise. The prcsi-
dent. who had good nerve. kept on
selling stock TINT he did not own. and
one Gay having called upon his bro
ker for a statement Of his account WIS
informed that he was short 5000
shares This was somewhat unsteady
ing. and tho president directed the bro
ker to hedge BY buying 10000 shares Ia
lots of one and two thousand.
The bnker reported that his buying
Ut 1900 shares had put the stock up
2h points. The president looked grave.
The road was a small one and its out
standing stock was not more than
100000 shares. most Of 1t In hands thai
bad held II for years. II the seller
for delivery he would lose fortune.
He put on taking any action ill the
next day. when there was furry IL.
the stock on the market, and the
shares jumped twenty points.
Then came a report that the stock OF
the c.. Y. and w. Railroad company
was "cornered." That meant that some
person or persons had bought up the
stock and there was none for sale
One, three, four, six hundred per cent
was offered for II, but no stock was
brought out Few persons had been
selling the stock except the president
but he was ruined. In cases where a
stock is ''cornered'' 1t Ia customary for
the seller and the buyer to get together
and settle. agreeing on certain fixed
price, The president sought his un
known enemy for this purpose He
found him to he an enormously rich
operator. The president went to his
Office in fear and trembling and asked
| to what figure he was to be bled.
| First let us settle Il little account
| held against your company" said the
operator. by former employee of
mine. Ny stenographer has been so
seriously injured tnat she mas been ue
! prived OF making her living
| The president asked for further in,
formation. which the operator gave
him
How much damage do you think
our company should pay the LADY,"
asked the president
What will give her an income OF
| $500 year think fifty of your
first mortgage ponds would be accept
ed"
/ The president telephoned for the
bonds and while they We're waiting for
them he and the operator settled for
the stock the former had sold the lat
ter. But the operator said that he
would not exact a fictitious value for
the shares he had bought and made a
settlement hy which the nrezidanf Lost