Somebody was buying, and buying furiously. The ticker seemed to set all
other business aside and give its attention to the trading in
Transcontinental. It was like a base-ball game, when one side begins to
pile up runs, and the man in the coacher’s box chants exultantly, and
the dullest spectator is stirred—since no man can be indifferent to
success. And as the stock went higher and higher, a little wave of
excitement mounted with it, a murmur running through the room, and a
thrill passing from person to person. Some watched, wondering if it
would last, and if they had not better take on a little; then another
point would be scored, and they would wish they had done it, and
hesitate whether to do it now. But to others, like the Montagues, who
“had some,” it was victory, glorious and thrilling; their pulses leaped
faster with every new change of the figures; and between times they
reckoned up their gains, and hung between hope and dread for the new
gains which were on the way, but not yet in sight.
There was little lull, and the boys who tended the board had a chance
to rest. The stock was above 66; at which price, owing to the device of
“pyramiding.” Montague was on “velvet,” to use the picturesque phrase
of the Street. His earnings amounted to sixty thousand dollars, and
even if the stock were to fall and he were to be sold out, he would
lose nothing.
He wished to sell and realize his profits; but his brother gripped him
fast by the arm. “No! _no!_” he said. “It hasn’t really come yet!”
Some went out to lunch—to a restaurant where they could have a
telephone on their table, so as to keep in touch with events. But the
Montagues had no care about eating; they sat picturing the directors in
session, and speculating upon a score of various eventualities. Things
might yet go wrong, and all their profits would vanish like early
snow-flakes—and all their capital with them. Oliver shook like a leaf,
but he would not stir. “Stay game!” he whispered.
He took out his watch, and glanced at it. It was after two o’clock. “It
may go over till to-morrow!” he muttered.—But then suddenly came the
storm.
The ticker recorded a rise in the price of Transcontinental of a point
and a half, upon a purchase of five thousand shares; and then half a
point for two thousand more. After that it never stopped. It went a
point at a time; it went ten points in about fifteen minutes. And babel
broke loose in the office, and in several thousand other offices in the
street, and spread to others all over the world. Montague had got up,
and was moving here and there, because the tension was unendurable; and
at the door of an inner office he heard some one at the telephone
exclaiming, “For the love of God, can’t you find out what’s the
matter?”—A moment later a man rushed in, breathless and wild-eyed, and
his voice rang through the office, “The directors have declared a
quarterly dividend of three per cent, and an extra dividend of two!”
Public-domain text, read in full here on John Shaqi.
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