Essex County herald. [volume] (Guildhall, Vt.) 1873-1964, 1919-08-06
CHAPTER XiV-Continued.

1t was thus that he had made him
self important enough to advance
rapidly in his firm. And he had put
a large share of his salary every
week into a savings bank. With his
extra commissions and bits of unex-
pected luck he had bought securities
Of impregnable val1e. These he had
locked away in a safe-deposit vault.
They paid him only four or five per-
cent, but they were as sure as any
thing mundane. And twice a year
they granted him the lofty emotion
of the coupon cutter.
He had paid cash for what mer-
ehandise he bought and demanded
special discounts for it, In time the
many mickles made a muckle. He had
five thousand dollars worth of bonds
in his safe deposit box.
And then he married-pawned him
self at the marriage shop. He kept
his hoard a secret from Leila.
Now he saw a chance to use the
talents that he had buried in a nap
kin. He filled the ears of Clay and
Daphne with his market jargon. He
was as unintelligible to Daphne as a
mad Scot talking golfese.
Look at @. & o." he would say
"sold at eighty-fve year ago.
Friend of mine bought it. People
who were in the know said it was
going up. 1t ought to have gone up,
but it didn't. Dropped slowly and
gickeningly to forty-three. Today it
is forty-six. If l had gone into the
market the other day with five thou
sand dollars and snapped it up at
forty-three I'd have cleaned up three
hundred and q half in no time"
"First catch your five thousand
dollars" said Clay.
'I've caught it," said Bayard. "Tve
had it all along"
"You have" Clay groaned. eff I'd
known that I'd have borrowed it to
get married on"
"Not in a million years." said Bay
ard. when I've made a killing with
this money I'll make you all a pres
ent, but you couldn't pry this out of
me with a crowbar. l wish I knew
where to borrow more. If you can
raise any money, Clay, don't you
spend it In matrimony. A fellow can
get married any time, but it's only
once in ten years that you can climb
ride in with the tide"
He went to his safe deposit vault
took out his bonds, carried them to
the vice president of his bank, and
borrowed all mat he could raise on
the securitis4 The bonds had fallen
below par IN account of the depres-
sion, but Aayard was granted so per
cent of their face value, minus 30
days N,count at per cent.
Has anemic bank account was sud-
denly swollen by three thousand nine
hundred and seventy-nine dollars and
eighteen cents.
He sought out broker, a college
friend whom he could trust, to advise
him honestly. They conferred on the
stocks to buy. The old dilemma
could not be escaped: those that Of
fered the most profit offered the most
risk. To buy on margins was further
danger with promise of further profit.
Yet after all, Bayard felt, to buy
outright, however wise, was tame.
Even If he doubled his money he
would have only eight thousand in
piace of his four. And eight thou.
sand was no fortune.
The question Of what stocks to bet
on was thrilling one, requiring q
long war council, but at length the
disposition was made and he gave his
broker the command to go forward
The market crept up and up. Bay
ard turned his profits back into his
speculation. He was growing rich
He was planning works of lavish
charity, works of art, the purchase
of great reserve fund Of securities
Some years before, when President
Taft was inaugurated, every omer
vas fine. The weather bureau prom
used fair weather. There was not Q
1Ant of storm anywhere upon the con
SNent. And then a blizzard "bacEet
from the ocean and played havoc
\ the tbrcEgA. 30 upon the era Of