Capitalists and financiers -- Fiction; Gold -- Fiction; South America -- Fiction; Wall Street (New York, N.Y.) -- Fiction
“John, I’ll try the experiment. I’m not sure that you are right, but it
sounds reasonable. I will add $100,000,000 in gold to the circulation,
and at the same time I’ll advance prices a few points in the stock
market. You may begin buying for me to-morrow morning. I’ll give you
_carte blanche_.”
Wharton’s amazement was speechless for some time, and Brent, who had
heartily realized the startling nature of the revelation which his
declaration involved, watched his friend in some amusement. There was a
nearer approach to awe in John Wharton’s voice when he finally spoke
than that rather unemotional young man ever manifested before.
“Do you mean to tell me, Robert, that you are able to speak of spending
one hundred millions as easily as another rich man would talk of as many
thousands? How much gold is there, for heaven’s sake, in that storehouse
of yours?”
“I don’t know, John; but I can spare one hundred millions. Can you
invest it for me? I told you, to be sure, that I did not wish my fortune
to earn any increase, and that is still my determination. It seems
necessary, however, to put this sum temporarily into investment
securities, but I think I can devise means for turning the income back
into its former channels without its going to augment my capital. Will
you undertake the commission?”
“It is too great a responsibility,” responded Wharton, still rather
dazed by the other’s announcement. “No, you must not ask me to spend
such a colossal sum according to my own whim. Give me definite orders
and I will execute them.”
“Well, we should go about it carefully, making as little disturbance as
possible and distributing our operations over several weeks or months, I
should say. Suppose we buy twenty-five thousand shares of stock daily
for a time, would that be enough to turn the current?”
“Immediately and effectually, I assure you. Very well, name the stocks
and the amounts and I’ll buy them for you. You have about $16,000,000 in
working capital with us now and it can be increased with the gold still
on hand to fully $25,000,000 within a week. Any more that you may send
us can be changed into bullion as fast as we shall need it.”
They arranged the details of the first two or three days’ operations and
Brent prepared to watch the result of his experiment. When he thought
the matter over alone he was disturbed by many doubts about his plan. He
determined, nevertheless, to carry it out. Only by experiment, he
decided in some discouragement, could the course of wisdom be
discovered.
CHAPTER VI.
THE FATE OF THE WALL STREET BEARS.
Public-domain text, read in full here on John Shaqi.
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