The Kendrick gazette., 1920-11-26

But when he sat at his desk the YER
teal lines were between his brows.
He took a deliberately long time to
light a cigar. then, extinguishing the
match and depositing 1t carefully In
an ash tray. he settled himself CON-
fortably In his chair and said:
"You all remember 1t was agreed In
the beginning / was to run this thing.
and / shall run 1t In my own way or
not at all"
"But confound 1t. man." exploded
Marsh, who had been holding his
tongue with dificulty. 'what in the
name Of common sense do you mean
by selling?"
"Who owns the most wheat-Sym.
ington Otis or us? How long will his
crowd last II they try to outsell US?
Don't you sect"
mot for q minute!" broke In All.
port, reddening under his collar.
''Tfl make it clearer. Suppose Otis
crowd knocks July wheat of fifteen or
twenty points. Very well. 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 60 to dollar. It'l 60 be-
yond dollar. I'll see to thati"
1T does sound plausible" hesitated
Hunt, desirous of supporting his lead
er, yet still somewhat doubtful.
II don't like It," said Marsh sourly.
''Mr. OTIS" continued Daniel, and
there was 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 pitfaIl. Waitl 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, II want to impress upon
you three. When we have defeated
I IN xuS<h ivH tn
own way. Remember that"-looking
keenly into each face. II 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 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 a grain.
but which he expected to buy later
and deliver as promised-at q lower
price than he had sold 1t for. And.
the same as yesterday, his opponent
had sold with him. bushel for bushel.
Otis was flushed with the elation OF
his obvious victory.
TITS all over" ne confided 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 l once
told him long time ago."
simultaneously with the dawning Of
the third day of battle Otis took the
aggressive. And simultaneously there
came surprise. His promises Of
wheat were gobbled 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
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 dozen
or more brokers'. All these orders
were, 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 q
kite in windstorm. 1t zigzagged
crazily. Shortly, however, it stealied
hung stationary an instant. then
bounded upward. Up. tugging deter
minedly. 1t climbed with a rapidity
that outstripped it's 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 1t stood at a dollar and
twenty-five cents. with a tendency to
mount beyond.
The next day was Sunday. Mon.
days trading increased In frenzy