Gold mines and mining -- Fiction; Nevada -- Fiction; Western stories
The next day, Parowan Consolidated dropped to one dollar, and people
were selling by wire,--and Bill was buying. He was appalled at the
amount of stock which had been placed on the market and sold at boom
prices. The incorporation had been for two million shares. There had
been two million, seven hundred thousand shares issued. The auditor
had discovered that for Bill.
Bill had a happy half-hour, thinking that he had "got the goods" on
Rayfield and Emmett. But Fuller, the attorney, dug into the records
and discovered just when and where and how the capital stock had been
increased nearly one million shares. Bill called to mind the times
when he had been asked, just as he put on his hat to leave after some
brief visit to the office, "Oh, just sign up these minutes, Mr.
President. Catch you while I can, is the only way I can get at you!"
And Bill, knowing that Doris was waiting for him, had signed minutes,
documents, stock and check books hastily, without giving the time he
should have devoted to the reading. So the capital stock had been
increased with his official sanction, but without his knowledge. There
was nothing that he could say, nothing that he could do. An officer of
a corporation is supposed to know the official acts of his
organization.
Well, he had himself to blame, if there were more Parowan stock
floating around than he had any idea of. He was prepared to buy every
share that he himself did not hold,--and Doris. He had counted on
Doris standing at his shoulder, since she had more than half a million
in her own right and could never want for money unless she
deliberately squandered it. Now, when he should be nearing the end of
his buying, he found himself far from the goal.
He went out and wired again to Baker Cole--an urgent call to liquidate
at once all his holdings in the big Baker-Cole oil interests--and to
place the money at his disposal in the Hibernian.
Then he went back to the office and continued to buy Parowan at one
dollar. More stock was coming in. The gamblers, having no inside
information--though they tried hard enough to get hold of it--lost
their nerve and began to let go. But not fast enough for Bill, who was
impatient to be through with the thing.
Parowan dropped to ninety, the new price being sent out imperturbably
from Bill's office. More stock came in. The papers were full of the
crash, full of wild rumors of the cause, full of Bill Dale's insane
buying--or was it insane? Certainly, it was sensational. No
stockholder could possibly remain in ignorance of the facts, the worst
of the rumors concerning Bill and the mine.
"Sell! Sell!" Every one was crying it. Sell before Bill Dale goes
broke or quits buying because he has enough. They sold frantically.
After Bill had bought so much, the most credulous old woman who held
ten shares could not fail to see that she was hopelessly in the
minority; that she would never get one dime for Parowan, unless Bill
Dale willed that she should.
Public-domain text, read in full here on John Shaqi.
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