I distributed the business with such judgment that I felt pretty sure
our plans could not in any way be exposed, and took my place at the rail
in the Boardroom.
The opening proceedings were comparatively tame. I detected a sad
falling-off in the quality and quantity of lung power and muscular
activity among the buyers and sellers in the pit.
At the call of Confidence, Lattimer and Hobart began feeding shares to
the market. Confidence dropped five points in half a minute, and the
pit began to wake up. There was a roar and a growl that showed me the
animals were still alive.
The Decker forces were taken by surprise, but with a hasty consultation
came gallantly to the rescue of their stock. At the close of the call
they had forced it back and one point higher than at the opening.
This, however, was but a skirmish of outposts. The fighting began at the
call of Crown Diamond.
It opened at sixty-three. The first bid was hardly made when with
a bellow Wallbridge charged on Decker's broker, filled his bid, and
offered a thousand shares at sixty-two.
There was an answering roar from a hundred throats and a mob rushed
on Wallbridge with the apparent intent of tearing him limb from limb.
Wallbridge's offer was snapped up at once, but a few weak-kneed holders
of the stock threw small blocks on the market.
These were taken up at once, and Decker's brokers were bidding
sixty-five.
At this Eppner gave a blast like a cornet, and, waving his arms
frantically, plunged into a small-sized riot. I had entrusted him with
five thousand shares of Crown Diamond to be sold for the best price
possible, and he was feeding the opposition judiciously. The price
wavered for a moment, but rallied and reached sixty-six.
At this I signaled to Wallbridge, and with another bellow he started an
opposition riot on the other side of the room from Eppner, and fed Crown
Diamond in lumps to the howling forces of the Decker combination.
The battle was raging furiously.
I had no wish to break the price of the stock. I was intent only at
selling shares at a good price, but I had convinced the Decker forces
that there was a raid on the stock, and they had rallied to protect it
at whatever cost.
The price see-sawed between sixty-six and sixty-five, and amid a tumult
of yells and shouts I sold twelve thousand shares. At last they were
gone, but the offers still continued.
Outsiders had become scared at the persistent selling, and were trying
to realize before a break should come, and in spite of Decker's efforts
the price ran down to sixty.
There was a final rally of the Decker forces, and the call closed with
Crown Diamond at sixty-three.
I was pleased at the result. Doddridge Knapp had intrusted me with the
shares with the remark, “I paid fifty for 'em and they're not worth a
tinker's dam. I got an inside look at the mine when I was in Virginia
City. Feed Decker all he'll take at sixty. He's been fooled on the
thing, and I reckon he'll buy a good lot of them at that.”
Public-domain text, read in full here on John Shaqi.
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