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Daylight nodded his head. "And you also understand," Letton went on,
"that the result can only be productive of good. The thing is
legitimate and right, and the only ones who may be hurt are the stock
gamblers themselves. It is not an attempt to smash the market. As you
see yourself, you are to bull the market. The honest investor will be
the gainer."
"Yes, that's the very thing," Dowsett said. "The commercial need for
copper is continually increasing. Ward Valley Copper, and all that it
stands for,--practically one-quarter of the world's supply, as I have
shown you,--is a big thing, how big, even we can scarcely estimate.
Our arrangements are made. We have plenty of capital ourselves, and
yet we want more. Also, there is too much Ward Valley out to suit our
present plans. Thus we kill both birds with one stone--"
"And I am the stone," Daylight broke in with a smile.
"Yes, just that. Not only will you bull Ward Valley, but you will at
the same time gather Ward Valley in. This will be of inestimable
advantage to us, while you and all of us will profit by it as well.
And as Mr. Letton has pointed out, the thing is legitimate and square.
On the eighteenth the directors meet, and, instead of the customary
dividend, a double dividend will be declared."
"And where will the shorts be then?" Leon Guggenhammer cried excitedly.
"The shorts will be the speculators," Nathaniel Letton explained, "the
gamblers, the froth of Wall Street--you understand. The genuine
investors will not be hurt. Furthermore, they will have learned for
the thousandth time to have confidence in Ward Valley. And with their
confidence we can carry through the large developments we have outlined
to you."
"There will be all sorts of rumors on the street," Dowsett warned
Daylight, "but do not let them frighten you. These rumors may even
originate with us. You can see how and why clearly. But rumors are to
be no concern of yours. You are on the inside. All you have to do is
buy, buy, buy, and keep on buying to the last stroke, when the
directors declare the double dividend. Ward Valley will jump so that it
won't be feasible to buy after that."
Public-domain text, read in full here on John Shaqi.
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