City and town life -- Fiction; Country life -- Fiction
Yet Marge, cool and prudent though he was, took no interest whatever in
“securities” that deserved their name; he devoted all his attention to
such stocks as fluctuated wildly,--stocks about which conflicting
rumors, both good and bad, came day by day, sometimes hour by hour. He
did not hesitate to inform himself that he was simply a gambler, at the
only gentlemanly game which the law did not make disreputable, and that
the place for his wits and money was among the stocks which most
indulged in “quick turns” and to which the outside public--the great
flock of lambs--would be most attracted.
After a careful survey of the market, and several chats, apparently by
chance, with alleged authorities of the street, he determined to confine
his operations to the stock of “The Eastern and Western Consolidated
Railway Company,” better known on the street and the stock-tickers’
tapes as “E. & W.” This stock had every feature that could make any
alleged security attractive to operators, for there was a great deal of
it, the company was formed by the consolidation, under the guise of
leasing, of the property of several other companies, it was steadily
picking up small feeders and incorporating them with the main line, it
held some land-grants of possible value, and, lastly, some of the
managers were so brilliant, daring, and unscrupulous that startling
changes in the quotations might occur at any time at very short notice.
Could a gambler ask for a more promising game?
E. & W. soon began to justify Marge in his choice. For the first few
days after he ventured into it the stock crept up by fractions and
points so that by selling out and promptly re-purchasing Marge was able
to double his investment, “on a margin,” from his profits alone. A
temporary break frightened him a little, but on a rumor that the company
was obtaining a lease of an important connecting link he borrowed enough
money to buy more instead of selling, and as--for a wonder--the rumor
proved true, he “realized” enough to take a couple of hundred shares
more. Success began to manifest itself in his countenance and his
manner, and to his great satisfaction he once heard his name coupled
with that of one of the prominent operators in the stock.
Public-domain text, read in full here on John Shaqi.
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