New York (N.Y.) -- Social life and customs -- Fiction; Wall Street (New York, N.Y.) -- Fiction
“Very well. Sell 50,000 shares of Federal Telegraph Company for me.”
“What price?” jotting down the figures, from force of habit, his mind
being paralyzed.
“The best you can get. The stock,” glancing at the tape, “is 91.”
“Very well.”
The two men looked at one another—Dutch Dan half menacingly, Greener,
calmly, steadily, his furtive eyes almost truthful.
“Good-morning,” said Dittenhoeffer at length and the little man’s
high-browed head nodded dismissingly.
Dittenhoeffer hastened back to the Exchange. At the entrance he met his
partner, Smith—the “Co.” of D. Dittenhoeffer & Co.
“Bill, I’ve just got an order from Greener to sell 50,000 shares of
Federal Telegraph.”
“Wh-what?” gasped Smith.
“Greener sent for me, asked me whether I’d accept an order from him, I
said yes, and he told me to sell 50,000 shares of Telegraph, and I’m——”
“You’ve got him, Dan. You’ve got him,” exultantly.
“I’m going to cover my 20,000 shares with the first half of the order
and sell the rest the best I can.”
“Man alive, this is your chance! Don’t you see you’ve got him? Smilie of
the Eastern National Bank tells me there isn’t a bank in the city will
lend Greener money, and he needs it badly to pay the last $10,000,000 to
the Indian Pacific bondholders. He’s bit off more than he can chew, damn
‘im!”
“Well, Bill, we’ll treat Mr. Greener as we do any other customer,” said
Dittenhoeffer.
“But—” began Smith, with undisguised consternation; he was an honest
man, when away from the Street.
“Oh, I’ll get him yet. This won’t save him. I’ll get him yet,” with a
confident smile.
It would have been very easy for him to take advantage of Greener’s
order to make a fortune. He was short 20,000 shares which he had put out
at an average price of 93. He could have taken Greener’s block of 50,000
shares and hurled it bodily at the market. Not even a gilt-edge stock
could withstand the impact of such a fearful blow, and the price of
Federal Telegraph doubtless would have broken 15 points or more, and he
could easily have taken in his shorts at 75 or possibly even at
70–-which would have meant a profit of a half-million of dollars—and a
loss of a much needed million to his arch-foe, Greener. And if he
allowed his partner to whisper in strict confidence to some friend how
Dan was selling out a big line of Telegraph for Greener the “Room” would
have gone wild and everybody would have hastened to sell and the decline
would have gone so much further as to cripple the little Napoleon
possibly beyond all hope of recovery. Had Greener made the most colossal
mistake of his life in giving the order to his enemy?
Public-domain text, read in full here on John Shaqi.
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