New York (N.Y.) -- Social life and customs -- Fiction; Wall Street (New York, N.Y.) -- Fiction
“See for yourself,” answered Sally, laughingly. He had nerve. “Old man,
I’ve got a very big order from one of the biggest men in the Street.
Some important developments are going on.”
“Sally, are you sure you’ve got an order from some one else?” asked the
unconvinced broker. His incredulity was obviously in the nature of an
insult, but it was pardonable, for there was too much at stake.
“Joe, come over to the office and I’ll show you.—Really, I can’t tell
you. But I can advise you, as a friend, to buy Sugar for all you are
worth.” And as he uttered the lie he looked straight into Thompson’s
eyes.
“Hayward, are you sure? Are you sure you’re not making a mistake?” He
wanted the commission of $100, but he did not feel certain of his
friend.
“Oh, hell, no. I’ve got a lot more to buy. It’s all right. Go ahead,
Joe.”
And Joe went ahead. He bought the 5,000 shares. The stock rose to 119½,
and Hayward, warned by his experience with Hartley and Thompson, did not
ask either friend or foe to buy another 5,000 shares for him. What he
did was to distribute buying orders for 10,000 shares in lots of 500.
Brokers now accepted his orders, for they were not so large as to be
dangerous. And the stock rose to 122¾. A few shorts were frightened. He
might win out after all; he might make Pike’s Peak. He began to bid up
the stock. He even bought “cash” stock, that is, stock for which he paid
cash, had to pay cash outright, receiving the certificates forthwith,
presumably to hand over to some investor of millions. Everybody on the
“floor” was talking about Hayward. The entire market had risen in
sympathy with Sugar.
But at 124 it seemed as if the entire capital stock was for sale. He
ceased buying. He had accumulated 38,000 shares. To pay for the stock
necessitated about six and one-half millions! But if he could unload on
an average of only 122 he might “come out even” in his other troubles.
Public-domain text, read in full here on John Shaqi.
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