They used to accuse him of being nothing but a gambler, but he had real
ability and a strongly developed aptitude for the speculative game. At
the same time his reputed indifference to highbrow pursuits made him
the hero of numberless anecdotes. One of the most highly circulated of
the yarns was that Joshua was a guest at what he called a swell dinner
and by some oversight of the hostess several of the other guests began
to discuss literature before they could be stopped.
A girl who sat next to Josh and had not heard him use his mouth except
for masticating purposes, turned to him and looking anxious to hear the
great financier’s opinion asked him, “Oh, Mr. Wolff, what do you think
of Balzac?”
Josh politely ceased to masticate, swallowed and answered, “I never
trade in them Curb stocks!”
Such were the three largest individual holders of Consolidated Stove.
When they came over to see me I told them that if they formed a
syndicate to put up some cash and gave me a call on their stock at a
little above the market I would do what I could to make a market. They
promptly asked me how much money would be required.
I answered, “You’ve had that stock a long time and you can’t do a thing
with it. Between the three of you you’ve got two hundred thousand
shares, and you know very well that you haven’t the slightest chance
of getting rid of it unless you make a market for it. It’s got be some
market to absorb what you’ve got to give it, and it will be wise to
have enough cash to pay for whatever stock it may be necessary to buy
at first. It’s no use to begin and then have to stop because there
isn’t enough money. I suggest that you form a syndicate and raise six
millions in cash. Then give the syndicate a call on your two hundred
thousand shares at 40 and put all your stock in escrow. If everything
goes well you chaps will get rid of your dead pet and the syndicate
will make some money.”
As I told you before, there had been all sorts of rumours about my
stock-market winnings. I suppose that helped, for nothing succeeds like
success. At all events, I didn’t have to do much explaining to these
chaps. They knew exactly how far they’d get if they tried to play a
lone hand. They thought mine was a good plan. When they went away they
said they would form the syndicate at once.
Public-domain text, read in full here on John Shaqi.
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