Get-Rich-Quick Wallingford: A Cheerful Account of the Rise and Fall of an American Business BuccaneerChester, George Randolph
General
Get-Rich-Quick Wallingford: A Cheerful Account of the Rise and Fall of an American Business Buccaneer
Chester, George Randolph
Businessmen -- Fiction; New York (N.Y.) -- Fiction; Swindlers and swindling -- Fiction
The response was many-phased. Farmers who were convinced of this logic,
and those who were not, rushed their wheat to market at the then
prevailing price, not waiting for the dollar and a half, but turning
their produce into cash at once. To offset this sudden release of grain,
buying orders poured into the markets, the same cash that had been
received from the sale of actual wheat being put into margins upon
fictitious wheat. Prices fluctuated in leaps of five and ten cents, and
the pit went crazy. It was a seething, howling mob, tossing frenzied
trades back and forth until faces were red and voices were hoarse; and
the firm of Fox & Fleecer, long noted for its conservative dealing and
almost passed by in the course of events, suddenly became the most
important factor on the floor.
On the ticker that on the first of May he had installed in his now
mortgaged house upon his mortgaged farm, Wallingford saw the price mount
to a dollar and a quarter, drop to a dollar-eighteen, jump to a
dollar-twenty-two, back to twenty, up to twenty-five, back to
twenty-two, up to twenty-eight. This last quotation he came back into
the room to see after he had on his hat and ulster, and while his
automobile, carrying Blackie Daw and Mrs. Wallingford, was spluttering
and quivering at the door. Then he started for Chicago, leaving his
neighbors back home to keep his telephone in a continuous jingle.
Hiram Hines met Len Miller in the road, for example. Both were beaming.
"What's the latest about wheat?" asked Len.
"A dollar twenty-eight and seven-eighths," replied Hiram; "at least it
was about an hour ago when I telephoned to Judge Wallingford's house.
Suppose its climbing for a dollar-thirty by now. How much you got, Len?"
"Twenty thousand bushels," answered Len jubilantly. "Bought it at a
dollar twenty-four on a five-cent margin, and got that much profits
already, nearly. Raised a thousand dollars on my sixty acres and have
made nearly a thousand on it in two weeks; with Judge Wallingford's own
brokers, too."
"So's mine," exulted Hiram. "Paid a dollar-twenty-six, but I'm
satisfied. When it reaches a dollar-forty I'll quit."
Ezekiel Tinkle walked six miles to see his son Ham at the Wallingford
place.
"Jonas Whetmore's bragging about two thousand dollars he's made in a few
days in this wheat business," he stated. "I don't rightly understand
it, Hamlet. How about it? I don't believe in speculating, but Jonas says
this ain't speculating, and if there's such a lot of money to be made I
want some."
"We all do," laughed Ham Tinkle, who, since he had "made good" with his
new-fangled farming, was accepted as an equal by his father. "I had two
hundred when I started. It's a thousand now, and will be five thousand
before I quit. Bring your money to me, father, and I'll show you how to
get in on the profits. But hurry. How much can you spare?"
"Well," figured Ezekiel, "there's that fifteen hundred I've saved up for
Bobbie's schooling; then when I sell my wheat----"
Public-domain text, read in full here on John Shaqi.
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