The circle banner. [volume] (Circle, Mont.) 1914-1939, 1919-04-18
CHAPTER xIV-continued.

1t was thus that he had made hin
self important enough to advanc
rapidly in his firm. And he had pu
large share of his salary ever
week into savings bank. With hi
extra commissions and bits of unex
pected luck he had bought securitie
OF imprSgnable value. These he ha
locked away in safe-deposit vault
They paid him only four or five per
cent, but they were as sure as any
thing mundane. And twice a yea
they granted him the lofty emotion
of the coupon cutter.
He had paid cash for what mer
chandise he bought and demanded
special discounts for it. In time the
many .mickles made muckle. He hal
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 Q. & o." he would say
"sold at eighty-five a 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
sickeningly 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 half in no time"
'F'irst catch your five thousand
dollars" said Clay.
1--WE caught it, said Bayard. "Pve
had it all along"
you have?" Clay groaned. "If 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 q killing with
this money I'll make you all a pres
emit, but you couldn't pry this out of
me with a crowbar. / wish / 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 |
lnce in ten years that you can climb |
aboard a market after a panic and |
tide in with the tide"
He went to his safe deposit vault,
orrin 10
he vice president of his bank, and
borrowed all that he could raise on
he securities. The bonds had fallen
,elow par on account of the depres-
ion, but Bayard was granted so per
.ent of their face value, minus 30
lays discount at per cent.
His anemic bank account was sud-
lenly swollen by three thousand nine
hundred and seventy-nine dollars and
eighteen cents.
He sought out a broker. a college
riend whom he could trust, to advise
i'm honestly. They conferred on the
tocks to buy. The old dilemma
ould not be escaped: those that Of
cred the most profit offered the most
lsk. To buy on margins was further
anger with promise Of further profit.
Yet, after all. Bayard felt, to buy
utright, however wise, was tame.
ven II he doubled his money he I
1ould have only eight thousand in 4
lace Of his four. And eight thou !
md was no fortune.
The question Of what stocks to bet
\ was thrilling one, requiring a
,ng war council, but at length the
Isposition was made and he gave his
Ioker the command to go forward.
The market crept mp and up. Bay
ID turned his profits back into his
regulation. He was growing rich.
e was planning works of lavish {
rarity, works Of art, the purchase
| great reserve fund Of securities
Some years BEFORE when President 9
at was inaugurated, every omen I
Is fine. The weather bureau prom
"a fair we4ther. There NJ not
ut q storm anywhere upon the con-
ae1t. And fhen ! bIixzd backed
4 from the ocean and p1hyed havoc =
NJ the fhxInGn ~ tpon The era q