The midland journal. (Rising Sun, Md.) 1885-1947, 1919-03-21
CHAPTER xIv-continued.

10
II 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 value: These he hac
locked away in safe-deposit vault
They paid him only four or Eve per
cent, but they were as sure as any
thing mundane. And twice a yeal
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 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
|stsold at eighty-five year ago.
Friend of mine bought it. People
who were ia the know said it was
going up. It ought to have gone up,
but 1t. didn't. Dropped slowly and
sickeningly to forty-three. Today ii
is forty-six. If 1 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."
'First catch your five thousand
dollars" said Clay.
tive caught it." said Bayard. s.rve
had it all along"
"You haveY Clay groaned. "If I'd
known that I'd have borrowed it to
get married on.''
..Not In o. million years." said Bay
ard. "When I've made a killing with
this money I'll make you all pres
'ent, but you couldn't pry this out of
me with crowbar. wish 1 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
aboard a market after a panic and
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 that. he could raise on
the securities. The bonds had fallen
below par on account Of the depres-
sion. but Bayard was granted 80 per
cent of their face value, minus 81
days discount at per cent.
|. His anemic bank account was sud-
denly swollen by three thousand nine
hundred and severn nine dollars and
eighteen cents. ~.f,
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
place of his four. And eight thou
sand was no fortune.
!, The question of what stocks to bet
on was thrilling one, requiring a
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 omen
was fine. The weather bureau prom
Used fair weather. There was not a
hint Of storm anywhere upon the con-
tfnent. And then blizzard BACKED
In" from the ocean and played havoc
With the throDxs. So upon the era of