A Deal in Wheat and Other Stories of the New and Old West — John Shaqi
A Deal in Wheat and Other Stories of the New and Old WestNorris, Frank
General
A Deal in Wheat and Other Stories of the New and Old West
Norris, Frank
Western stories
A second time Going made memoranda of the trade, and either the Hornung
holdings were increased by two thousand bushels of May wheat or the
Hornung bank account swelled by at least three thousand dollars of some
unknown short's money.
Of late--so sure was the bull crowd of its position--no one had even
thought of glancing at the inspection sheet on the bulletin board. But
now one of Going's messengers hurried up to him with the announcement
that this sheet showed receipts at Chicago for that morning of
twenty-five thousand bushels, and not credited to Hornung. Some one had
got hold of a line of wheat overlooked by the "clique" and was dumping
it upon them.
"Wire the Chief," said Going over his shoulder to Merriam. This one
struggled out of the crowd, and on a telegraph blank scribbled:
"Strong bear movement--New man--Kennedy--Selling in lots of five
contracts--Chicago receipts twenty-five thousand."
The message was despatched, and in a few moments the answer came back,
laconic, of military terseness:
"Support the market."
And Going obeyed, Merriam and Kimbark following, the new broker fairly
throwing the wheat at them in thousand-bushel lots.
"Sell May at 'fifty; sell May; sell May." A moment's indecision, an
instant's hesitation, the first faint suggestion of weakness, and the
market would have broken under them. But for the better part of four
hours they stood their ground, taking all that was offered, in constant
communication with the Chief, and from time to time stimulated and
steadied by his brief, unvarying command:
"Support the market."
At the close of the session they had bought in the twenty-five thousand
bushels of May. Hornung's position was as stable as a rock, and the
price closed even with the opening figure--one dollar and a half.
But the morning's work was the talk of all La Salle Street. Who was back
of the raid?
What was the meaning of this unexpected selling? For weeks the pit
trading had been merely nominal. Truslow, the Great Bear, from whom the
most serious attack might have been expected, had gone to his country
seat at Geneva Lake, in Wisconsin, declaring himself to be out of the
market entirely. He went bass-fishing every day.
IV. THE BELT LINE
On a certain day toward the middle of the month, at a time when the
mysterious Bear had unloaded some eighty thousand bushels upon Hornung,
a conference was held in the library of Hornung's home. His broker
attended it, and also a clean-faced, bright-eyed individual whose name
of Cyrus Ryder might have been found upon the pay-roll of a rather
well-known detective agency. For upward of half an hour after the
conference began the detective spoke, the other two listening
attentively, gravely.
Public-domain text, read in full here on John Shaqi.
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