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
"My dear infant," he observed; "when Fox & Fleecer got ready to sell my
near-two-million bushels of wheat this morning, somebody had to be ready
to buy them. I provided the buyers. That's all."
"Oh!" exclaimed Mrs. Wallingford, and pondered the matter slowly. "I
see. But, Jim! Mr. Hines, Mr. Evans, Mr. Whetmore, Mr. Granice, and the
others--to whom do they sell after they have bought your wheat?"
"The sheriff," interposed Blackie with a grin.
"Not necessarily," Wallingford hastened to contradict him in answer to
the troubled frown upon his wife's brow. "My deal don't disturb the
market, and I expect wheat to go on up to at least a dollar and a half.
If these farmers get out on the way up they make money. But the boobs
who buy from them----"
"Ain't it funny?" inquired Blackie plaintively. "There's always a herd
of 'em just crazy eager to grab the hot end."
A boy came on the train with evening papers containing the closing
market quotations. Wheat had touched thirty-four, but a quick break had
come at the close, back to twenty-six! Another column told why. Every
cent of advance in the actual grain had brought out cash wheat in
floods. Members of the great Farmers' Commercial Association had hurried
their holdings to market, trusting to the great body of the loosely
bound organizations to keep up the price--and the great body of the
organization was doing precisely the same thing. At bottom they had, in
fact, small faith in it, and the Board of Trade, sensitive as a
barometer, was quick to feel this psychological change in the situation.
Wallingford said nothing of this to his wife. He had begun to fear her.
Always she had set herself against actual dishonesty, and more so than
ever of late as he had begun to pride himself upon being a great
financier. In the smoking compartment, however, he handed the paper to
Blackie Daw, with his thumb upon the quotations.
"There's the answer," he said. "The Rubes have cut their own throats, as
I figured they would, and you'll see wheat tumble to lower than it was
when this raise began. Hines and Evans and Granice and the rest of them
will hold the bag on this deal, and they needn't blame it to me. They
can only blame it to the fact that farmers won't stick. I'm lucky that
they hung together long enough to reach my price of a dollar and a
quarter."
"How do you know you got out?" asked Blackie, passing over as a matter
of no moment whatever the fact that all their neighbors of Truscot and
Mapes Counties, who had followed "Judge" Wallingford's lead and urging
in the matter of speculation, would lose their all; as would hundreds if
not thousands of other "members" who had been led through the deftly
worded columns of the _Commercial Farmer_ to gamble in their own grain.
Public-domain text, read in full here on John Shaqi.
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