The San Francisco call. [volume], January 14, 1906, Page 2, Image 2

About The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913

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THE PRESIDENT
Thr Sunday Call has nfeared
tb« irrial rijrhli. of Alfred Henry
I>c«-I»' srriii novel of modern
politics, "The President," and
to-day arives Ita reader* the
seventh fnktallnieut of wbat is
conceded (o be lne best and
\u25bair«nt<-«t work of thl» bril
liant, trenchant writer, already
\u25a0o well known as the author of
"\u25a0Wolfvllle D«r»" , and "The
Bou." "The President" will
appear In weekly Installments
In The Sanday Call until com
pleted.
(Copyright. 1904, by A- S. Barnes & Co.)
N divining Dorothy's
griefs Mrs. Hanway-
Harley showed even
greater ingenuity.
Dorothy and Richard
hsd quarreled; Mrs.
Hanway-Harley was
sharp to note that
now ehe neither saw
nor heard of Richard.
Also, Dorothy came
to the dinner <able
when Storri was there
and neither fled to her
room Jior called Bess
to her shoulder on
hearing that noble-
man's name an
nounced. Mrs. Hanway-Harley saw how
the land lay; Dorothy took a more
lenient view of Storri when now her
fancy for Richard was wearing dim.
After all. it had been only a fancy; it
asked just a trifle of care an'l the
happy denouement would be as Mrs.
Hanway-Harley wished.
Mrs. Hanway-Harley began now to
play her game exceeding deep. She
would say nothing of Richard; to name
him- would serve to keep him in Dor
othy's memory. She would say noth
ing of Storri; to 'speak of him would
heat Dorothy's obstinacy, and Mrs.
Hanway-Harley had learned not to de
sire that. .No, she would be wisely,
forbearlngly diplomatic; the present
arrangement was perfect for the ends
in view. Storri came to the house;
Richard stayed away; the conclusion
was natural and solitary, and Dorothy
-would marry Storri. Mrs. Hanway-
Harley, fully understanding the currents
of events and the flowing thereof, be
came serenely joyful, and the charm of
her manner gained accent from those
clouds so visibly resting upon Mr. Har
ley and Dorothy. Yes, indeed; it must
not be written that the sun did not
chine for Mrs. Hanway-Harley, whose
conversation the satirical Storri told
the San Reve was as the conversation
of a magpie.
Tuesday came and the President of
this republic shook a pugnacious fist
beneath the German :»jse. Some im
pression of the weird suddenness of
the weird maneuver might have
been gathered from the comment of
Senator Gruff. Speaking for the Senate,
that sagacious man remarked:
."It came down upon us like a pan of
milk from a top shelf!" .
In Wall street the effect was all that
Mr. Bayard foretold. Prices began to
melt and dwindle like Ice in August.
Panic prevailed; three brokerage firms
fell,- a dozen more were rocking on their
foundations.
In the midst of the hubbub Senator
Hanway sent for Richard. Our states
man's smile was bland, his brow un
troubled.
"You see I do not forget," said Senator
Hanway sweetly. "I promised that I'd
give you an exclusive story when the
committee on Northern Consolidated was
ready to report. Here Is the report; It
was finished last evening: I have added a
brief interview to explain It.".'
Richard's impulse was to ask a dozen
questions; he restrained himself and
asked none. Richard was not so fond of
fiction as to invite it. He sent the re
port and Intel view to the Daily Tory,
and dispatched a private message to Mr.
Bayard, giving him the news and con
gratulating him on his unerring gifts
as a seer.
How Xorthern Con»Uod«ted Wai
Sold..
When the President of these United
States so dauntlessly flourished the Mon
roe doctrine in the German face, and
6hook the Presidential fi^st beneath the
German nose, the flourishing and flst
«haking were accomplished through the
medium of a special message to Con
gress which —a clap of thunder from a
cloudless sky — made its appearance In
House and Senate upon a certain Tues
day afternoon at four of the Congres
sional clock. The hour of four had been
settled upon to diminish as much as
might be, so the President said, the
chances of an earthquake in the New
York stock market, which closed at three.
In Ban Francisco, which is three h%urs
younger than New York, the winds of
disastrous speculation blew a hurricane
that afternoon; but no one east of the
Mississippi cares what happens in San
Francisco. Besides, the New York hur
ricane was only deferred.
'Tuesday afternoon, after word of
that Presidential flst - shaking had
soaked into the souls of men, spec
ulative New York went nervous to
the frontiers of hysteria. Tuesday
night, speculative New York couldn't
sleep; it sat up till morning, for, like
cattle. It could smell in the breeze the
ecming 6torm. Wednesday heard the
crash; and the crashing continued una
bated throughout Thursday and Friday.
The papers of that hour in attempting
to describe stock conditions drew ex
haustively on such terms as "tornado,"
"blizzard," "simoon," "maelstrom," "cy
clone," "landslide," "avalanche," and
whatever else in the English language
means death and devastation, No one
found fault of those similes, which * were
justified of the hopeless truth. Values
were beaten as flat. as af ield of turnips.
The best feature was that no banks
failed; two or three of the weaker sisters
wavered, but the big, burly concerns
gave' them the arm of their aid and led
them through.
Days before the. smash,, that osprey
pool had perfected' the last fragment! of
ite arrangements. The old gray bucca-"
neer, who had charge of the peol's Inter
ests, ' was as ready for action as was Mr,
Bayard. The latter stock-king was ; per
haps the only one in the. street who
possessed a foreknowledge of what daring
deeds our White House ' meditated. To
34r. Bayard the secrets of " courts i. and
cabinets were told, for he ; had an agent
at the elbow of every possibility.- The
old gray buccaneer was not so" well pro
vided; none' the less, Twlth, decks cleared,"
guns shotted," cutlasses ground* to \u25a0 raxdr"£
edge, he was prompt on tae instant to
put forth against ! Northern • Consolidated
now when the tempest which lashed the
market favored his pirate purposes. "J.
\u25a0 Those four miUionslwhich^ad been.de
cided upon as the fund. of the osprey pool
vifre banked ready , to the hand '.of --the ;
old gray buccaneer. Storri, who had been
losing money, exhausted himself in pro
viding the five. hundred thousand which
made up his one-eighth' of the \u25a0 four
millions. By squeezing out his last drop
of credit, he succeeded tyi gathering those
thousands;-once gathered, he tossed them
into the pool's fund as "carelessly [', as
though they had been nothing more than
*the common furniture of his; pocket,
without which he would not think of be
ginning the day. Storri at least was a
magnificent actor. •
In collecting those five hundred thou-.
sand dollars, Storri, among other se
curities, put up the French ; shares. . He
thought nothing of that, since following
victory over Northern Consolidated they
would be back in his hands again. Inci
dentally, a gratifying thing happened,
something in the nature of a compliment
or a concession, which he attributed to
the snobbish eagerness of . Americans to
pay homage to his nobility. Fatuous
Storri; he should never have looked for.
compliment or concession or snobbish
adulation in a plain lend-and-borrow
traffic 1 dollars and: cents! Men will
buy aya v coat of arms; but they will
not fake a coat of ; arms in pawn.
No; Storri. instead of .feeling flattered,
should have grown suspicious when the
gentleman from', whom" he borrowed
those $500,000 proposed : to let . him
have the full value of his securities, if
In return he were given the: right: to
confiscate should the. loans not' be re
paid on the nail. Why not? The new
arrangement meant no real risk: the
security might always be sold in case
of default. And under the arrange
ment offered. Storri's credit would, be
enlarged by 20 per cent. ' He agreed
and _ had immediate advantage of the.
factJ. Drawing' to the last dollar he
made his share of the pool's $4,000,000
good. .
When the storm descended Wednes
day morning the old gray buccaneer
was instantly in the middle of it doing
all he might to encourage' the storm.
As the stock world .went to its sleep
less bed on Tuesday night, it knew
about the Presidential defiance of Ger
many. That news was enough to : keep
the stock world shivering till morn
ing. When it arose 'and read the Daily
Tory its chills were multiplied by two.'
As if trouble with Germany were not
sufficient invitation to general ruin,
here came the Hanway report driving
a knife to the. heart of Northern Con
solidated! At sight of that, the stock
world's last hope abandoned it, and the
old gray buccaneer grinned . with - hap
piness that awful morning as he
looked across the field of coming war.
Andrew Jackson, being half Scotch
and half Irish, was wont before a bat
tle to think and plan with the prudent
sagacity of a Bailey Jarvie. Once the
battle began he ceased to be , Scotch
and became wholly Irish; he "quit
thinking and devoted himself desper
ately to execution. The old gray;.*uc—
cancer of stocks was like Andrew
Jackson. His plan, thoroughly - cau
tious and Scotch, had been laid to sell ,
and sell and sell Northern Consolidated
until the stock was beaten down; to 20.'
He would sell; savagely, relentlessly,
sell with his eyes shut, until the 20
pofnt was reached. And if . necessary
he' would sell 400.000 shares... .
The old. gray buccaneer, under the
conditions existing 1 , did not. think -it
would require a sale of 400.000 , shares
before the market broke to the figure
he had fixed his heart upon. The gen
eral conflagration raging must of ne
cessity, smoke out thousands and thou^.
sands of Innocent Northern Consoll-
dated shares." These, blind and fren
zied, would rush plunglngly into -the
flames like horses at a : fire. : The old
gray buccaneer felt sure that while he
was selling 400,000 shares, full 200,000,
mayhap 300.000, shares in- addition
would be offered. What stock, could,
support Itself against such a ; flood as'
that? When the bottom was ; reached,
and the time was ripe, the pool would
gather in the harvest. It was a beau- *
tlful plan; the* more beautiful because
of Its simplicity!
Instantly, on the morning . of that
black Wednesday the sale of Northern,
Consolidated began. Thousands .of
shares in two thousand, five thousand,
and even ten thousand lots were thrown
upon the market by the old gray buc
caneer. In the roar and tumult of that
"disastrous day, what would - have been
In calmer moments a spectacle of .as
tonishment passed much unnoticed.. The
stock world was busy saving Itself out
of the teeth of destruction, and the
smashing and slugging in Northern
Consolidated attracted the less atten
tion. -
Northern Consolidated merited ad
miring: .attention; against that desperate
hammering It stood like a wall ,of
granite. Ten, twenty, forty, .eighty,
over one hundred thousand shares were
sold that Wednesday; and yet, marvels
of marvels, Northern Consolidated at
the clay's close had fallen off no more
than six points. It I retreated sullenly,
slowly, step by step and \u25a0 eighth by
eighth; .ever and anon.lt would make
a stand and hold a price an hour. Other
stocks- lost ! twice "and; threefold- the
ground; the stubbornness of
Consolidated began : . to : engage < the \u25a0; no
tice of men. More \u25a0 than one poor c ••bull"
\u25a0when sore beset, that day' took •; fresh
heart from the : obstinacy of \u25a0 Northern
Consolidated; ; his "o wn -; foothold „ was
steadied and .made the stronger toriit.
But the old- gray, buccaneer, refused
to be denied; be had ault thinking- and
begun to act; he would break the back
of Northern Consolidated .It, it tookf the
last share of those " four hundred ; thou
sand ! , His courage never \u25a0 wavered; s he
would, charge; and 'keep charging:; ;rin
the end his cavalry work must tell and
the lines of ! Northern Consolidated
crumple up ; like -paper.' 'All lit \ required
was dash; and* confidence/, with an »un-;
derlying prim determinatlon^to- win or
die, and Northern 'Consolidated must
yieid^SasnasHHaHHßisaraßESi
The • war was renewed . upon I Thurs
day, and staggered fiercely on* through
out the.' 'day. "j_, Then -Friday, followed, fa
roaring, 1 tottering, '[crashing,'', smashing
fellow of. the • two : days f gone*-* before.
Millionaires became- beggars/and ibegr
gars * millionaires between ' breakfast
and lunch. *\u25a0 , ';'-.\u25a0 \u25a0.-'.'\u25a0 .• ,1.
As *on .Wednesday,' so* also "on Thurs
day and Friday .the" stock [ which >best
sustained . itself was 4 Northern ; Consoli
dated.' , And' yet Trio otherjstock : was '• so
bitterly sold! As against this* it should
be added; that: no; other, w^as] sol bitterly
bought! Every: offer; to, seit Twast closed
with at the" very moment Vof > Its » birth.
At last thefend, came; h thej bld^gray
buccaneer could * go'no " further.^ He ; had
already *.- oversold i his 0 self-fixed j limit;
having parted' ) with , : four I . hundred
and; eleven; thousand i"' shares.', "'.The
sales : were ' : , 'made * .in \u25a0 the names
of . .the' .various . i - members, \u0084\u25a0 of : - ithe
pool, , each^ selling t one^eighth of
thej^w^hojle.^ Senator,^ Hanway^s^j interest,"
*as . well as that lof *. Mr. .* Harley, ='. being"
61,350 shares • for I each, for reasons • that
do not require^ exhibition,; was handled;
in the name of * an, agent.;" Full • 150,000 in j
nocen t ; sha res.- smoked irit^o \ the , open r niar^:
ket'as the 'old ; gray buccaneer , had \u25a0 antlci-,
pated, '/were also \u25a0 sold,",' making [ the] round
; total of , ."6l.oUo "shares i, of.j Northern Con-^
solidated offered .and up during
those 'three ; days •, of ', fire. ,' lt was ;' ;' the
greatest "bear"' ; raid in "';, the^ annals :of
the Stock ' Exchange,', so -graybeards saidr
and what peculiarly. 1 , marked 7: It^for the
admiration of ' mankind':. was 'that it , had
had the leasts success.' vlnv In 4 three '1 days,*
with £01,000, shares "? ; sold, '»the ; stock had
fallen only eleven . points. \. The raid was
over ami the "bears" had'^growlinglyre
treated thirty 'minutes . before the 'close
on ; Friday. Within ; ten . minutes t- after, -i
the last offer; to sell, - and r when ; it. <wasV
plain the "bears" had*quit'tlielfleld,' un-J
der a cross-fire of bids. that^ fell as brisk- f
ly : thick as hail, i Northern i Consolidated ;L
was bid 'up thirteen points.' It 'had stood j
forty-one at ' Tuesday's "'close; 7*, it
forty-three ,when, :{ "bears" \u25a0 - routed,' tho
market was ; over Friday >af terjnoon. l And \u25a0
thus disastrously fared ; the I osprey ' pool. \u25a0;
.."We're ruined, gentlemen,'.'' coolly .^re
marked the' old. gray^ buccaneer '.when,*..!
with 'the exception .of j Senator . : Hanway.y
the members of the pool ! gathered ;thenv ;
selves ': together Friday/ evening. - : "We're : .;
in a corner: we're- gohe-^hook, line 'and
sinker!"; .'\u25a0 '\u25a0\u25a0\u25a0'.'\u25a0' \v.;, -."*.. ; / \u25a0..";.' \u25a0 : :;""". "\u25a0 \u25a0
"What can, we' do?" asked Mr. Hariey, -
his" face the hue of : putty.; ' . :
'"Nothing!". said the old gray, buccaneer,
lighting a Spartan clgar.> "We're penned ".
up ; j whoever': has i us -. cornered v may I now ",
"come round * and : knock " us > on" the lS head ' =;
whenever . he ; finds •it i convenient.'.'^ r : f
"The market Is 'still weak,',', "observed V
one, ; "f or , all \ it ; lived ; through; the < panic, >'
Suppose we creep, in to-morrow, and ' cover;.
our, shorts. "i The ; shares ! are forty-three ; \
lif or one ., think It might! be .wise; to" close \
the deal • and take our; losses, . even if we
go as; high fas fifty."; , V
-. . ''For.: myself ,". remarked * the^ old = gray \i
buccaneer ,~. with f a; half-sneer at *what \ he .-:
regarded 1 as '__ a •'- most % childish [suggestion,? \u25a0
\u25a0 "I'd .be pleased ; to^ settle* at f sixty-five « or,'*
even V. seventy."; 1 ); turning sto'£himl'5 to '£ him I'
who wag for* softly} buying his /way out: \u25a0
"Do> you /imagine : : that ; ; what ',* has 1 hap-;
pened ; was accident ?•? I f; tell * you I there's"^
a = shark I swimming V in* • these Xwaters^-a^
shark >so [ : big f that^ by " comparison ? Port \i
Royal s , Tom X would "seem a like ? a£dolphin.£'
And, \u25a0 gentlemen, 4 , thatf shark ?is \u25a0 af terj us.~ ''\u25a0
He's ; been '; af ter ; ; us r f rom I the], beginning : .^
he's ; cot between us randftheTshore.t and £
he'll pull us under when" the 1 spirit' moves $
him/ <If i you .think -5 differently, -go ?' into '
the" market to-morrow • and < try ?.. to .-[ buy-.
Northern -1 Consolidated. i'/Anp'attempt i\o i'^
buy QW shares;. will ! put;ltiUP,ten'pointß."_ :
: .The"' next ; day,'? Saturday,^ the! pool '(Bent s
quietly^ into * the ';> exchange - „ to i buy '}* one \u25a0{
thousand shares ; *.. that,'- by-way '. of ' f eeler.S '\u25a0'
The old'gray.; buccaneer' was right; 'North-J^
erh * Consolidated 3 climbed ;, fifteen x points ;>
with the' vivacity, of a squirrel,* andjrestedjj
mockingly > at^ flfty-eUrht.*«J; Following * this
disheartening; experiments^ which] resulted
In rnothingimoreihdpefuHtHan ;*a?demand ; ji
for further; margins f rom jthe pool's ;brok-
er*,* ; there^were no ; mbrejeff orta ltd iVbuy."^
The pool.waJilmarkedjforJdeath^fbut that,s^
while no g argument '\u25a0:'\u25a0\u25a0
in ~£ t avor s of j self-destruction. ; ;* ? '^ \u25a0 : . : r^i£gs£\
- 'iWhen'i the | market n opened ; upon -J that ii
storm-swept iWednesday, 8 ? there Iwere forty; '
brokers -onithejflqb^of^theTexchangef tog
execute'Uhe ; orders? 6f| Mr?|Bay^rd^ Nqt^ :
oneiOf the ! forty [knew,; of jtheTotheri thirty^H
nine ; ; not \ one A was | awarejof | Mf?f Bayard %
in i the ?. buslhessTof Si the] day^|Thirty| as|a'.l
maximum 5 had \ beehTcommißsidhed ? teH buy ß
thousand fshares^six ;^
hundred ? thousand shares g of {.-* NortherniJ
Consolidated.* \u25a0*}' Tha ,v, v orders •* r had V^come t;
through =; banks'^ in v the fiL city fi and ; -*a from X
banks < and lin JLondonriParis,'^'
Berlin* and v a,H~ddze.n w| poin itsj; in 'S Eurqpe.lf
They ; ran ', from ! five . hundred ;i to| as* high %
as twelve .thousands shares ; the T ?6rder.^.
JHE ' -*S AN '. I«;RANeiSGO : -SUNDAY i . GALL.. '
Each broker wasj" given a \u25a0) certain S limit
i buy,^and',tithe:" :
. orders ; . of Ino r . were \ in \ conflict.^ Each '\u25a0"'\u25a0
\u25a0\u25a0 for.' his *;'orders r would " ; have the unob
.Btructed! market nd^ himself/; ;,;•; '
*' ;\u25a0: Mr".':; Bayard ' arranged % for ' that } fail of .
;: eleven; points; the-^'bearlMraid^must'seemL-.
--.- ta. have 'effect to I encourage' the ! pool. ; : .'.To f
y, thus * foster .: the; pool "' iiil its \ hopes, > ten • of : i
3 ; the ! forty r ; were , to - "sell" I Northern ',Con- J ,i
j • solidated K in y \u25a0 limited i: lots ;i\ these. '': sales ;
should . augment \Vbear'' * enthusiasm. ; \u25a0 :
;.'-., In each instance" the ' stook * thus L'off ered . "
;i wag 1 taken •by / one fof t Mr .'l Bayard' s |brok-1^
crers.xwholittle'imagiried^hatibbth^helandiV
§ the] broker^ selling; drew,: theirj inspirations f-.
f f rom ; the^ same "source^ demonstrating i
.1 the; finesse of Mr.*Baya'rd,;if]dne;had?col-K
\u25a0 lected I from/, the' f ortyi thosejorders ' which~s :
\u25a0 they, brought . upon l the ; floor^that KWednes-.' ; :
V day >, morning, »" and 1 them \u25a0; ' on a j
'^table, J they ;.i; would ;i have' fitted £wltb ; an- : ,
\u25a0 - other, ' and each ' in 1 Its { proper,; place,' until %. s
f* the whole .was , llkej at mosaic] of : defense.* "^
f; The \u25a0' "bear[V; pool* was jmet'Oji^the^thres-«;
;.\u25a0 it ; was ' permitted I tofpresa ? forward %\
1 .-" eighth Js_by"> eighth ? according^ to^? a "% plan ;,> ;
'^onejßayard: broker ; having; made"'' his j'pur^',
another, tookj his place ;; lt. was like^
;\clock^work. ?,Th e iwhole^ flye"t hundred rand >
|, sixty-one' thousand Ifshafes .<,we're % bought ;*\u25a0 \
;>; and :.' sold: v and tftromy first 2 to 1 !? last Jthere .rf,
\u25a0^camornever;a*glimpse^3f : Mrj Bayard. £1; ,
-It"; had^beenSMr^Bay^d's^earller^i
ijthoughtUo'j let Northern i Consolidated j f all *|;
j : as f low ; > as JTor,f the" '\u25a0} 'sakV; ht iU
% poor men iiTperli 1 f rom Vthat ] 'defiancefof all 1-:
'ri, things^German; * Mr.\ Bayard rj in 7*7 * the glast jjs •
I hours' *o_f I his ; prepafatio ns i decided V to] sup^H •
f ] |port \ the i marke t;t?,T6\hold> Northern! Cdn-^3 "1
; ; solidated', above { thirty^ against! theldouble
S pressure of a^ f alling!marketfandia\Vbcari^jf j
5 raid -.would |be » to V the {general i stock ~, list 0 :
gas " a rprop |to |al leanjng # wall.^j It 5 would £,
vsaye hundreds" f rom ' annihilatlon7(and j Mr.;;']
I Bayard Tresoi ved f? f or||their,rf fescjie/- J It :
|jwduld|\:dBt*hlm^nothing, ; ypseijtiimlnotht|ii
>ling"jionce^
/ thatTospreyJ poollwere ' corneljed Jat'i twenty^ 1
forty §was|uplmporr^
• tant.r'.The^ cdrnerXcdrhplete,'lMr.\ Bayard ,^,
tJwlth'laTibrcathVcouldfputiNorthern^Cori^S:
I solidated "toTso ?^"tplsllop7J to ? 600,15 tO;\1000.n> 1
rneasure'ofihisltfiumphTwouldibeithes
•t measure Jqj -% ro ef c^of $ Mr."* Bayj.rd.^ ;
1 ; Vae : Victis ! "Ou'r^ B'fennus^of Tthe'Stocks l j 1
might demand \ frorn^ thel members :"of the r\u25a0 \u25a0
vanquished pool, their final ~ shilling. He.. '
•might strip them as' he ] was stripped thosei. 1
(thirty, years ' bef ore," and j turn \u25a0 them' f orth .i I
naked.; i For j thus i read i the I iron \ statutes \ \
of : the ; Stock Kxchang© : where quarter •is _\u25a0.
: unknown./, iC: «-"\u25a0.'• W'- .'\u25a0\u25a0: '.. :. : .'.' \u25a0 -'"\u25a0 - - .-' '. - .'
It ; was ! Mr. Bayard 'who caused North- r J
\u25a0 erh i Consdll<sated *to 'climb^ ; squlrrel-wisei • !
;,toMfdrty«three: as r the j market 'closed' on : ,
'Friday.^ and .-. later !toi fifty-eight; : It j had -y
the effect desired ; A there s came ' the', call \'\u25a0
for. margins. 7- Storri; iwho had \u25a0 put - hisV'
; last "dollar 1 to ' the ! hazard, ;went down,; ex- v
hausied^ destroyed,^ and } under j foot," and, , ,]
; as? parcel i of : the of that ;;
overthrdw,;; those ; Fvnch' -shares V. were '.\ (
sent Ito j Mr.l Bayard.'K-Within ; ten' minutes '\u25a0 t
|_af : ter; he received them \ they.were -on" their s «
"wayjtoi Itichard,', with a 1a 1 letter'telling* hoyr \
complete! had t been ?. thejospreyi pool's Jde-"{i
ifeat.^ For fall'- his and iv his ; gray?^
1 crown Tof [sixty * years,"; Mr.'; Bayard's eyes' V .
[werejfshining^likei.theleyes^ofiia'fchlldj^
: with a : hew toy. 4 What battle . was to v that .,,
i Scriptural i' hero's 7, warhorse ; so'; 4 was the
'strife [of t stocks ; ; as ; breath ; in 5 the ; nostrils \u25a0*!:
of 2 Mr."| Bayard.^ Richard ' s eyes i,were ? as " £
\u25a0brlghttaa ? those iof \ Mr.'j Bayard iwhen \ he 2" 1
i received 'jtheiFrench! shareB,"tbut]lt iwas, a"tj i
Bbfter.lbrightneis^borhV' of i^thoughts of .
rporothy,* and . in \u25a0no .wise \ to"< be confounded A •
(with % that * bat tie-glitter i which £ shone ;• in 'j : '\u25a0
itheyeyesfoffthe^other. .Thus ran the note/ :
'of jMr^Bayardrr;^;;^-^;-,.;^':^-;'^: v- ',\u25a0•:\u25a0' '-'\u25a0' ; '"' ;
; i »^'Deari Mr., Storms^-Our j bears are safely '
; in^ the . pit '.which Vwe digged ' f orithem. i i.The' f] '
I New^York 1 five"; are jtaking-, 1 1] In ja\ temper ** '
'of j stolid I philosophy , r jbelng4b"rulns I of/ ex;^ ; "
"perience^^WeXmay 5 keep) them| in? the i pit %\u25a0"
!,what |time |you |will . before-, we '-\u25a0. beglhl thei^ '
tbutc]he?y^6ne^week.": Vrie;' ' niorith; , one 1
year.^They? cannot •: escape,'.' since , my '
: agents'! onf the^f floor|of UhelEzchange .will V :
beY always lonXthelwatch \ td*'seeHh"at f they \u25a0 1
• don't f climblout.s|The J first i time f an^off er -S '
ttal. buy Jsri sell shareTof XCon-^j 1
' solidated | is J made,^ 11 shall f put 5 thei' priced 1
ito^threel hundred.'fS Our.\bears7t howevjr. ;* ]
JchQ w^thls,t and iwjll I make j no : attempt *to*l -
•: get ! away; h; realizing J Its ihopelessness.-f.The';! 1
: Storri^hear^ Is \u25a0•already ;dead;Kthat first i
ALFRED HENRY LEWIS
call 'c for ; margins ; killed him, "and *. I
1 send. .. you :•/ a?- specimen of his pelt; ' to
wit, the 7 French .".shares, with this.'
r As ; for. \ the i others, J whenever - you ; are
ready ;wfi : will call; on' them for : their fur '
'and their grease and what else. is valuable*
about a bear." Believe] me your friend; as
' was . your,; father \u25a0 the ' friend of . • '
V "ROBERT; LANCE BATAKD." '
- Richard/ now he had possession of those
"fateful'] securities," ;^was'. somewhat ; put
'about >asl to I the '• best : ; manner ; of getting
them Into the: hands .'of .Mr.*. Harley. : He,
Richard ,{ could ; not personally * appear j In ;
the/, transaction."^ He "thought of using
the , excellent Mr;; Owynn; but" that course
; objections, J sines' lt "would be as-;
sumed i hereafter > by L Mr. ~i Harley.-; that
" Richard, because of . his confidential , rela
tions with Mr. ? Gwynn;'-- must 1 know.^ the
I history of those shares. -'-. Richard did 'not
'i to * have j. such a ' thought V take ~t hold
*on i Mr.'* Harley :* it might ', later^ embarrass
both Mr.l Harleyi and ' Richard ;when"; the
I latter,' called . at ] the / Harley , housed as \u25a0he
, meant ' % shortly . tto _ r do. r - Finally l\ he < hit
; upon; an 7 idea; he,; would employ, ; the
.worthy, name .'of Mr. ;Fopling. : The secret
t would : be 'z eafe\with Johe 'who, like 'Mr/
'Fopling',"' could !J never ;< b» brought '.to \ unr
:' derstandTitJ9a|BgjHjgftWg^Bffig? xi£&. l
i/? j Being "decided as (to ; a' path,* Richard ln
' dosed i, those £ dangerous '-* shares . with * a
'typewritten note to Mr. Harley: Tha note,
[speaking jin ».the <j person," presented
Mr.' Fopling's compliments, 4 ; explained , that
• Mr.*! Fopllngl was given "to* understand 'that
] Mr/*" Harley ."/would: purchase those ' partic-.
,ular. shares, 1 ! stated ; their J value ; as ; fifteen
.thousand dollars, and scald that \u25a0 Mr.- Har- '
fley mlght^sendjhla check ;toVMr.-FopU ngi
"This : missive > and.t hose shares being
Jsafely ' on .their road to .'Mr.* Harley,'.Rich
} ard » made^ speed 'to j hunt } up ; Mr. - Fopling. *
'He 4 found [the! sinless Tone at . the ' house j of :
! his I beloved. '" Fortune * favored Richard;
' Bess iwas J, not "there; 4 being ; across • with \u25a0
\u25a0 Dorothy, ; and, J save ; for * the 7 company or
;"AJax; : ; Mr.? Fopling \was '' alone: "; Mr. Peop
ling linTthes Marklin library, glaring ,
> at'-^AJax.'f who swas | blinking,
I disdainful fyellow eyes at Mr. 'Fopling, by
way- of retort. ' P^Wr^HBWWi
' -'*; Richard to . Mr.' Fopling ..that
" through f. certain s deals '\u25a0 in : ; stocks " ha ,. had
; become! possessed fof i two -hundred [ shares
; of /one \of (Mr.l'Harley's; pet 'stocks, ilr.
Harley ?i would i give;- anything v ; to } regain ;
sthenVi'.' Richard? deslred:to"; return" them' tOj
[Mr. \u25a0< Harley being- known } in ithe'
business. r^ -Would ?Mr;. Fopling; permit \u25a0 him '
; thot f a vori of r hls3 name ? j-j He Vwould 5 em-":
' ploy I Mr.: Fopling's \ name j most guardedly.'
:Richard:idld^not*.tell^Mr.f'Poplingtthat
- his "sacred" name -.was f already In the har- -
: ness 'of the affair." \u25a0',*
The benumbed; Mr. Fopling, >y llatw v
ing attentively;, succeeded " in getting an
impression fthaf Richard 'through lucky
dexterity and .sleight had- obtained:some
strange hold in stock 3 on Mr. Harley/ and
now *. ln_ a ; foolish leniency was about to *
let : him r go. .'\u25a0 This excited j Mr. Fopling
hugely;, he put, In a* most 'vigorous pro
tect. .•./"'". . ' ."' :'...' - : "*T '-",.. -I,'' •'
"Weally, ; Stawms." : •ha "squeaked, "if
you've .twappedT the old curmudgeon you
; must , stwip ; him, for hla last dime, .don't
y* know! I weinembah a sons my gov
ernor used rto i, sing; he i said it was bis
" motto. \ The ; song wan I like ' this : <
:*When you catch a black cat, 'skin It,
;'skln it! " ;* -' > ' t,:) ; •-
When- you catch a black '.'cat,* skin It
'.to the:taU!' , » .
"Yes. -. Stawms. use [my name as.fweely
i as . you please; - but I ; pwotest" against
j letting up ; on this old ' cweatura ; Harley."
."But^my dear boy." observed ' Richard.
• "you must consider! Mr/ Harley, is to be 1
my fathef-ln-law; he'a Dorothy's fatheti*
; • Mr., Fopling declined Ito consider ,what
,he called ia - "technicality." Mr. Harley
: must ; be, squeezed.^ : \u25a0 ,
,- "Weally.t Stawms," said Jtfr. Fopling.
iit's . the wules of the - game.% don't y'
Xnow.?jgßßßB3B
.. After >, no ' little argument, Mr. Fopling
yielded '\u25a0 to ; his 1 point. ; Mr.v fopling ' how
ever, I bethought aim Tot ; troubles of his
own, .and: made condition that^ Richard
stand, his : friend with Bess as against hia
enemy, ,'AJax.' ,..* ' . \u0084-• •
."Bess always- sides with.AJax." ex
plained Mr."' Fopling plaintively; "and it
ain't -.wight!"/"
Richard gave ' Mr. Fopllng^a fraternal
grip with his mighty hand. : . He would
be to 'Mr. Fopling a»- was Jonathan to
David.' It ; should be ,back> to back and
heel to «heei with them against- AJax.
Bess^and air the world! The violent loy
alty/of Richard alarmed Mr. Poplmg; ho
threw lnja^word ofcautloru ./ ".
"You • mustn't be v weckless. Stawms."
> Bess .came, back from the Harley house,
and j found C Richard J wtth«' Mr.*.'Fopllng.
Besa '^reported -t Dorothy's spirits Jas im
proved ; \u25a0 those rays ' of \ comfort , emanating
from . Richard's • promises had 'put a' color
In 'her.' cheek. : \u25a0
"The v pVomtaes have been redeemed,"
observed Richard." "and I came to .tell
you lflrnt of iall— you ,who *have"beeu* "our
. truest ) friend."' and here, to \u25a0 the utter out
rage of Mr. \u25a0FopUhg's senstbilfties. Rich
ard kissed Bess's yellow hair, v u^
:s. "Oh. jl ' say, > ' Stawms !" ; V squeaked Mr.
Foqllng ; reproachfully; :\u25a0••-.•: \u25a0••-.• -^ \u25a0-*-.., .
l» ' • Mts take, Iv assure - you 1" i said 'Richard,
again giving ;Mr.<- FopUng. hia hand: "
'.'Well:" please don't wepeat"" it." - re-