Storri took no one into his confidence touching sugar. Going the other
way, he urged Mr. Harley to buy on their mutual account two thousand
shares, assuring him that he had been given word, from sources
absolutely sure, of a coming "bull" movement in the stock.
Mr. Harley, who knew of that Odessa favor, believed. Storri, as further
evidence of faith, gave Mr. Harley a check covering what initial margins
would be required for his half of the purchase; and then to make all
secure, he placed in Mr. Harley's hands two hundred shares of a French
company worth that day fifteen thousand dollars.
"I don't want any argument to exist," laughed Storri, as he gave Mr.
Harley the French securities, "for closing me out should a squall strike
the market. Now I shall go to the club."
Mr. Harley also laughed, and took the French stock; acceptance always
came easy with Mr. Harley.
Mr. Harley bought those two thousand sugar shares at eleven o'clock. Two
hours later an extra was being cried about the streets. The sugar
company had ordered half its refineries closed; some alleged loose screw
in sugar trade was given as the reason.
With the order closing down the refineries, the stock began to tumble.
Within thirty minutes it had slumped off six points. There came a call
for further margins, and Mr. Harley offered Storri's French stock.
The security was undeniable, but a technicality got in the way to trip
Mr. Harley. The French securities were original shares, issued in
Storri's name. On the back, however, there was no Storri signature
making the usual assignment in blank. The shares, in their present
shape, would not be received. Mr. Harley flew to a nearby telephone and
called up Storri.
"There is not time for me to get there!" cried that designing gentleman
excitedly. He was a half-mile away. "Don't hesitate; clap my name on the
backs of the certificates yourself. They don't know my signature; and no
one will think of questioning it, coming through your hands."
There was no other way; thereupon Mr. Harley, in a ferment with tumbling
prices, picked up a pen, and, with the best intentions in life, forged
Storri's name. Then he hurried to the broker's and got up the margins.
It was not a squall, it was a storm, and sugar was broken off at the
roots, falling twenty points. Storri, on his private deal, made two
hundred thousand, while Messrs. Harley and Storri, on their joint
account, lost forty thousand dollars--twenty thousand for each. In the
clean-up, Storri paid his losses and got back his French shares. He
smiled an evil smile as he contemplated Mr. Harley's attempts to mock
his signature.
Public-domain text, read in full here on John Shaqi.
Reviews
Reviews
No reviews yet
Be the first to share your thoughts on this work.
Elsewhere in the archive
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account