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
The answer to that was the secret negotiations for control of the
European output, which would make the Consolidated master of the copper
world. Instead of disclosing this, he pretended craftily to be
encouraged by the mere generally hopeful outlook in all lines. Western
Trolley, too, might be overcapitalised, and Union Cordage might also be
in the hands of a piratical clique; but the demand for trolley lines
was growing every day, and cordage products were not going out of
fashion by any means.
"You see," he said to his adviser, "here's what the most conservative
man in the Street says in this afternoon's paper. 'That copper must
necessarily break badly, and the whole boom collapse I do not believe.
There is enough prosperity to maintain a strong demand for the metal
through another year at least. As to Western Trolley and Union Cordage,
the two other stocks about which doubt is now being so widely expressed
in the Street, I am persuaded that they are both due to rise, not
sensationally, but at a healthy upward rate that makes them sound
investments!'
"There," said Percival, "there's the judgment of a man that knows the
game, but doesn't happen to have a dollar in either stock, and he
doesn't know one or two things that I know, either. Just hypothecate
ten thousand of those Union Cordage shares and five thousand Western
Trolley, and buy Consolidated on a twenty per cent margin. I want to
get bigger action. There's a good rule in poker: if your hand is worth
calling, it's worth raising."
"I like your nerve," said the broker.
"Well, I know some one who has a sleeve with something up it, that's
all."
By the third week in April, it was believed that his holdings of
Consolidated were the largest in the Street, excepting those of the
Federal Oil people. Uncle Peter was delighted by the magnitude of his
operations, and by his newly formed habits of industry.
"It'll be the makings of the boy," he said to Mrs. Bines in her son's
presence. "Not that I care so much myself about all the millions he'll
pile up, but it gives him a business training, and takes him out of the
pin-head class. I bet Shepler himself will be takin' off his silk hat
to your son, jest as soon as he's made this turn in copper--if he has
enough of Dan'l J.'s grit to hang on--and I think he has."
"They needn't wait another day for me," Percival told him later. "The
family treasure is about all in now, except ma's amethyst earrings, and
the hair watch-chain Grandpa Cummings had. Of course I'm holding what
I promised for Burman. But that rise can't hold off much longer, and
the only thing I'll do, from now on, is to hock a few blocks of the
stock I bought outright, and buy on margins, so's to get bigger
action."
"My! My! you jest do fairly dazzle me," exclaimed the old man,
delightedly. "Oh, I guess your pa wouldn't be at all proud of you if he
could see it. I tell you, this family's all right while you keep
hearty."
Public-domain text, read in full here on John Shaqi.
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