The Spenders: A Tale of the Third GenerationWilson, Harry Leon
General
The Spenders: A Tale of the Third Generation
Wilson, Harry Leon
Inheritance and succession -- Fiction; United States -- Social life and customs -- Fiction
"That's right; the oil crowd and Shepler. I had it straight from Relpin
that night. They're negotiating now with the Rothschilds to limit the
output of the Rio Tinto mines. They'll end by controlling them, and
then--well, we'll have a roll of the yellow boys--say, we'll have to
lay quiet for a year just to count it."
"Do it good while you're doin' it," urged Uncle Peter, cheerfully. "I
rely so much on your judgment, I want you to get action on my stuff,
too. I got a couple millions that ought to be workin' harder than they
are."
"Good; I didn't think you had so much gambler in you."
"It's fur a worthy purpose, son. And it seems too bad that Pishy can't
pull out something with her bit, when it's to be had so easy. From what
that spangle-faced beau of hers tells me there's got to be some
expensive plumbing done in that castle he gets sawed off on to him."
"We'll let sis in, too," exclaimed her brother, generously, "and ma
could use a little more in her business. She's sitting up nights to
corner all the Amalgamated Hard-luck on the island. We'll pool issue,
and say, we'll make those Federal Oil pikers think we've gnawed a
corner off the subtreasury. I'll put an order in for twenty thousand
more shares to-morrow--among the three stocks. And then we'll have to
see about getting all our capital here. We'll need every cent of it
that's loose; and maybe we better sell off some of those dead-wood
stocks."
The twenty thousand shares were bought by the following week, five
thousand of them being Consolidated Copper, ten thousand Western
Trolley, and five thousand Union Cordage. Consolidated Copper fell off
two points, upon rumours, traceable to no source, that the company had
on hand a large secret supply of copper, and was producing largely in
excess of the demand every month.
Percival told Uncle Peter of these rumours, and chuckled with the easy
confidence of a man who knows secrets.
"You see, it's coming the way Relpin said. The insiders are hammering
down the stock with those reports, hammering with one hand, and buying
up small lots quietly with the other. But you'll notice the price of
copper doesn't go down any. They keep it at seventeen cents all right.
Now, the moment they get control of the European supply they'll hold
the stuff, force up the selling price to awful figures, and squeeze out
dividends that will make you wear blue glasses to look at them."
"You certainly do know your business, son," said Uncle Peter,
fervently. "You certainly got your pa's head on you. You remind me more
and more of Dan'l J. Bines every day. I'd rather trust your judgment
now than lots of older men down there. You know their tricks all right.
Get in good and hard so long as you got a sure thing. I'd hate to have
you come meachin' around after that stock has kited, and be kickin'
because you hadn't bet what your hand was worth."
Public-domain text, read in full here on John Shaqi.
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