The Lakeland evening telegram. (Lakeland, Fla.) 1911-1922, 1916-07-31
He Cot Hold
OF the Wrong
Stenographer
By EDWARD T. STEWART


railroad was sitting in his office at his
rosewood desk when an Official entered
in reply to q tap on his silver bell |
Handing the subordinate letter. he
said:
take that into the Office OF the COM
pany's attorney and tell him to treat 1t |
in the usual way"
The letter was from young woman
who made her living by stenography
and typewriting. She had Travelled on
one Of the company's trains, and as 1t
was nearing the station stood at the
door, bracing herself against the car
end. The engineer stopped the train
suddenly, and the car door slammed
against the girls hand and crushed her
fingers. The injury ended her ability
to make her living as she had been do
ing 1t. She asked the president of the
road If he would indemnify her. The
usual way" referred to by him was
to get an offer to settle. then pigeon
hole it. This was done, and. the girl
having refused to settle for a song,
heard nothing more from the COM
pany's attorneys.
A few months after the pigeonholing
of the girls offer the president sent for
his stockbroker and said to him:
"Mr. Barker, have nYiced very
slow rise for month past Of the shares
Of our road. know Of nothing to put
them up. Our monthly statement shows
some falling of in the earnings, and
there is some doubt about our main
tanning the regular dividend. Can you
explain the rise in view Of the factsT
Mr.. Barker could not explain the
rise. He thought that some person was
manipulating the stock, putting 1t up
for the purpose Of making money on 1t
when it went down again.
.'Please sell a thousand shares for
my account" continued the president
land every point the price OF the stock
rises, sell another thousand shares"
The result of this order within cou'
pie of weeks was that the stock went
up FIVE points, and the president was
short of it 5000 shares. That means
that he had sold shares which he DID
not own at less than the market price
When the stock declined to figure be
low what he had paid for 1t he woult
: buy 1t and make the difference. Al
.. It's president, he knew that the stool
was not worth what he sold 1t for ant
did not doubt that he would make
good thing of the transaction.
4 90 dnxUu Tr
stead 1t continued to rise. The pres
!, dent. who had good nerve, kept o
selling stock that he did not own, an
, one day having called upon his br'
: ker for a statement of his account wa
. informed that he was "short" 5000
4 shares. This was somewhat INSTEAD.
!. ing, and the president directed the br'
. ker to hedge by buying 10000 shares
I lots Of one and two thousand.
!. The broker reported that his buyir
Of 5000 shares had put the stock
O 2ls points. The president looked grav
r The road was a small one, and its ou
q standing stock was not more tha
D 6O0O00 shares, most of 1t In hands thu
% had held It Tor years. II the sell
:, could not buy the stock he had 80
Is for delivery he would lose forum
D. He put of taking any action till Il
next day, when there was furry
lg the stock on the market, and Il
he shares jumped twenty points.
10 Then came a report that the stock
a the g., Y. and w. Railroad compar
n was "cornered." That meant that son
N person or persons had bought up Il
ne stock and there was none for sal
T. One, three, -four, six hundred per ce
was offered for 1t, but no stock WI
n brought out. Few persons had be-
es selling the stock except the presider
a but he was ruined. In cases where
We stock. is "cornered" 1t is customary I
the seller and the buyer to get togeth
ns and settle, agreeing on a certain fix
ed price. The president sought his u
is known enemy for this purpose. !
found him tosbe an enormously RI
r. operator. The president went to
Ill Office in fear and trembling and ask
be to what figure he was to be bled.
m First let us settle a little accou
on held against your company" said {
he operator, by a former employee
n mine. Ny stenographer has been
seriously injured that she has been
ed prived of making her living"
81 The president asked for further
formation, which the operator ga
ar him.
err aHow much damage do you thi
ed our company should pay the lady
asked the president
nd what win give her an income
$500 a year think fifty OF yc
oil first mortgage bonds would be aece
ne ed"
The president telephoned for
i'm bonds. and while they were waiting
nee them he and the operator settled
The the stock the former had sold the
ter. But the operator said that
ave would not exact a fictitious value
ep the shares he had bought and mad
settlement by which the president