To them it seems inexplicable that the Government should seek to float a bond issue on the eve of an election. They do not grasp the full import of this scheme to force the people to support the Plutocratic candidates as the preservers of the country's credit. A broker, running the tape through his fingers listlessly, reads this sentence: "London, Oct. 12,--James Golding announces his intention to float $245,000,000 three per cent. U.S. gold bonds in London." In an instant he realizes that the confidence of the market will be restored. Rushing to the pit he begins to buy everything that is offered. Half a hundred tickers in the Exchange convey the same news to as many brokerage firms. A wild scramble is started; everyone is anxious to go "long" on stocks which they have been cautiously selling for days past. Point by point the listed stocks advance. The clock strikes half-past two. Will half an hour suffice to readjust the market? An exceptional, an unprecedented bull panic is in progress. Brokers, messengers, clerks, every one connected with the Stock Exchange is in a flurry. Tickers are for the time being utterly forgotten. In a corner of the Exchange sits the operator who has to send the doings of the day to the Press Association. He is unmoved by any excitement that may occur on the floor; it is an every-day experience with him. Stolidly he reads the tape, and jots down the advance in the stocks as a matter of course. He has sent word to his office that Golding is to float the bond issue; but he knows that this news has reached the office through another channel before his belated report. He sends the message because it is a part of his routine. "Calais, Oct. 12th," are the words that now appear on the slip of paper he is scanning. "James Golding, accompanied by M. Tabort, French banking magnate, entered rear car Paris Express from London to cross the Channel. Car uncoupled in tunnel; explosion; both men instantly killed; submarine tunnel wrecked." Here _is_ news. The instinct of the broker is awakened in the operator. He leaves his desk and walks rapidly to the pit. He places his hand on the shoulder of a prominent broker. In a few words he tells this man the news, and asks that the broker make him a "little something" for the tip. With the news of Golding's death this broker enters the pit as a seller. There are now but twenty minutes left before the closing of 'Change, yet by cautious work he will be able to sell out his holdings at the inflated prices that prevail. He alone of all the members of the Exchange knows that the greatest American financier is dead. On the morrow every stock on the list will depreciate. Now is the time for him to unload.