Audubon County journal. (Exira, Iowa) 1884-1993, 1920-07-29
Glad That one OF rne rr1puna1 nau

!
shown some life, Fitzhugh SWING his
chair round briskly SO that he faced
the speaker.
"Who owns the most wheat-Sym-
ngton Otis or us? How long will his
crowd last if they try to outsell US?
Don't you see?'
Not for minute!" broke in All
| port, reddening under his collar
"Tll make it clearer. Suppose Otis
, crowd knocks July wheat off fifteen or
twenty points. Very we'll. Immedi-
ately they stop selling-perhaps be-
fore-Tll begin buying. Then, as an
elastic band that has been stretched
to its utmost, July wheat will spring
back. It'll go to dollar. It'll go be-
yond dollar. I'll see to that!'
ut does sound plausible" hesitated
Hunt, desirous of supporting his lead
er, yet still somewhat doubtful
II don't like t.p said Marsh sourly.
Mr.. 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 boasting 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.
The discussion lasted until nearly
nightfall.' BY grace of his power of
persuasion no less than by his domi-
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, 81 want to impress upon
Otis. / want to deal with him in my
own way. Remember that"-looking
keenly into each face. II want to deal
with Svmington 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 tit
for-tat uproar When the closing gong
sounded he had sold, altogether, over
four million bushels of July wheat:
whcat Of which he owned not a grain,
l Nhich he expected to buy later
and deliver as promised-at lower
price than he had sold it for. And,
the same as yesterday, his opponent
had sold with him bushel for bushe.
Otis was flushed with the elation of
his obvious victory.
Its all over" he coafided 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 out of the Chicago
wheat pit like gnat-just as once
told him long time ago."
Simultaneously with the dawning of
the third day of battle Otis took the
aggressive. And simultaneously there
heat were gobbled up as fast as they
Nee 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
floor" since the first day. From his
private office he sent orders to a dozen
or more brokers. All these orders
We're, Buy July wheat" All were to
take effect this morning. He cabled
his representatives in Liverpool and
Paris. These cablegrams also read.
Buy July wheat" They, too, became
effective this morning. In all, he is
sued instructions to purchase twelve
million bushels, or approximately
double the amount he had sold on the
prior two days.
The market that morning was like a
kite in windstorm. 1t zigzagged
crafty. Shortly. however, it steadied.
hung stationary an instant. then
bounded upward Up. Juggling deter
minedly. it climbed with a rapidity
that outstripped its falling the day be-
fore. Otis gave orders 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-five cents, with tendency to
mount beyond.
The next day was Sunday. Mon
days trading increased in frenzy.
The price assembled more and more
stittiy. 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 loss.
Word passed swiftly from mouth to
mouth that Symington Otis, the big
bear. had fought his final fight and was
down at last.
Near the close of the days session,
without exactly knowing why, he went
ho fav al A