The Washburn times. [volume] (Washburn, Wis.) 1896-1976, 1920-08-12

fore-T'll begin buying. Then, as an
elastic band that has been stretched
to its utmost, July wheat viii spring
back. It'll go to a dollar. It'll so be-
yond a dollar. I'll see tosthat!'
ut does soEad plausible" hes1tafed
Hunt desiroUs of supporting his read
er yet still somewhat doubtful.
Il don't like it, said Marsh souriy.
"NIr. OTIS" continued Daniel, and
! there was a hard ring in his voice that
caused Hunt and Airport to exchange
meaning glances, thinks he has me on
the run. He's Boosting how he licked
me in today's skirmish of how |
] turned tail at the first fire. But wait
till he springs my pitfall. Wait! I've
got him!y
The discussion lasted until nearly
nightfall. BY grace of his power of
persuasion no less than by his tlomi-
nant personality and strength of pur-
pose, Fitzhugh finally induced the 9th
ers to admit that his course was the
best one. When they went out through
the quiet, brightly lighted offices, the
four were on very amicable terms; and
the hot words of discussion that had
frequently passed between them were
quite forgotten.
There's one thing" FitZhugh said
In parting, Il want to impress upon
| you three When we have defeated
| n+;e< r ,,,o,+ ~ ,lool With him in NV
own way. Remember that"-looking
keenly into each face. 81 want to deal
with Symington Otis in my own way"
Promptly next morning Otis re-
newed the combat. 1t occupied every
minute of that days session, and, as
on the preceding day, ragged with a tit
| for-tat uproar. When the closing gong
sounded he had sold, altogether over
| four million bushels of July wheat
] wheat of which he owned not q grain,
| but which he expected to buy later
and deliver as, promised-at a lower
price than he had sold it for. And,
the same as yesterday, his opponent
had sold with him. bushel for bushel.
Otis was flushed with the citation of
his obvious victory.
"It's all over" he confded to a
| friend that evening, as he sat down
smilingly to well-ordered dinner. Otis
was living at his club these days, his
wife and daughter having gone abroad
for the summer "All over but the
shouting. Tomorrow I'll finish him.
He'll be snapped oSt of the Chicago
wheat pit like gnat-just as once
told him tong time ago."
simultaneously with the dswning of
the third dap of battle Otis took the
aggressive. And simultaneously there
came surprise. His promises of
wheat were g5bbled up as fast as they
were offered. Buying orders poured In
from all sides, deluging his traders. He
increased his selling. The buying like
wise increased. He began to fight des-
perately, flooding the pit with his sell
ing commands. But it was as though
he poured sand in the ocean.
Fitzhugh had not appeared on the.
"fioor" since the first day. From his
private office he sent orders to dozen
or more brokers. AL these orders
were. BUY July wheat" All were to
take effect this morning. He cabled
his representatives in Liverpool and
Paris. xfsesa cablegrams also read,
BUY July wheae,'' They, too, became
effective this morning. In all, he is
sued Instructions 10 purchase twelve,
| million bushels. or approximately
| double the amount he had sold on the
prior two days.
The market that morning was like
kite in windstorm. 1t zigzagged
crafty. Shortly, however, 1t steadied.
hung stationary an instant, then
bounded upward. Up, tugging deter
minedly, it climbed with rapidity
that outstripped its falling the day be-
fore. Otis gave order5 to cease all sell
ing. Like released spring, the price
leaped higher still. At the close of the
days session it stood at dollar and
twenty cents, with tendency to
mount beyond.
The next day was Sunday. Mon
days trading Increased in frenzy.
The price assembled more and more
stif1y. Otis did nothing. He dared not
cover his promises by buying. BY so
doing he would put up the price on
himself. He dared not sell, for every
bushel he sold would be sold at a loss.
Word passed swiftly from mouth to
mouth that Symington Otis, the big
| bear, had fought k.s Anal fight and was
down at last.
(To BE coNTINUED)