Capitalists and financiers -- Fiction; Criminals -- Fiction; Wall Street (New York, N.Y.) -- Fiction
Kidder nodded and hurried to the Wills Building. Robison went to the
office of his brokers, stopping previously at a telephone pay-station
to telephone to the city editors of the _Evening World_ and the _Evening
Journal_. This was his message:
_The Evening Planet is getting out an extra about the disappearance
of W. H. Garrettson. Send your men to Garrettson's office and also his
residence. Hurry!_
The _Evening Planet_ story was on the street before Robison returned to
Richards & Tuttle's office, and five minutes later _World_ and _Journal_
extras were selling in the financial district. Curiously enough, both
papers used the same scare-head, and that fact had a great deal to do
with the acceptance of the story by many people. The heading was:
HELD FOR RANSOM!!
And each stated it had information that W. H. Garrettson had been
kidnapped and was held for one hundred million dollars ransom. The
Wall Street news agencies sent out the news on the tickers. One of them
subtly finished:
_Those who know Mr. Garrettson state that the two things the greatest
financier of our times cannot do are: first, take advice; and second,
be coerced. A man who has compelled a President of the United States to
come to him for advice, and who has flatly told a reigning monarch, No!
is not going to do as he is told by any band of crooks! The worst is,
therefore, to be feared!_
VI
For one brief dazed moment the stock-market hesitated! Then suddenly
the ticker stopped, as it did in the old days whenever a member's demise
was announced. The ticker's silence, with its suggestion of death,
did in truth strangle bull hopes. Ten thousand gamblers' hearts almost
stopped when the ticker did. Then the storm burst, increasing in
violence as corroboration came from newspaper extras, from the Wall
Street news agencies and the news tickers, from brokers and bankers who
had rushed to the offices of W. H. Garrettson & Company and had rushed
out again to sell stocks. And for one fatal moment the great house of
W. H. Garrettson & Company was guilty of the capital crime--in high
finance--of indecision.
The stock-market at times suggests a reservoir--: the selling-power
is liquefied fear. Like water, all it asks is one tiny crevice--a
beginning!--and it will itself complete the havoc.
Inside support--that is, buying by Garrettson's firm--would have been
the only effective denial of the alarming rumors. Therefore, in the
brief instant that saw absolutely no “support” forthcoming the flood of
selling-orders raged down upon the stock-market, carrying with it big
margins and little margins and minus margins, fortunes and hopes and
reputations.
Public-domain text, read in full here on John Shaqi.
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