He came up Broad Street carly one afternoon and stopped in front of the Exchange to chat with several broker friends who had come out of the maelstrom for a breath of air.
After learning from them that the market was in such a precarious position that a man with enough ould tip over the apple eat, but no one dared because of the money pool gathered by the Morgan Stillman cliques to stave off Just such a disaster, Scales bevan wondering if he cou!
Cain," a he express would happen, 'Thus' do Wall Street millionaires amuse them= selves.
But he had nothing on which to vase his raid, for after all there rust be some bad news to come out tut the height of the panic and 30 demoralize prices that the raiders can cover their large Tines of stock. Ju the ensuing confusion without, their moves becoming known, In short, it was an example of one reason why people Jose money Wall Street acting on released information of a security, The popular fallacy is to act once the news becomes public, bunt the wiser heads act then only in cashing in at the expense of the gullible, In any event Seales grew bored fat the prospects and was about to leave for uptown when a forme: [messenger he had employed came racing forward for the business office entrance of the Stock "Exchange. Seales intercepted him and earned that the youth was now [rust Company, one of the Tangent king for the Knickerbocker
then in business in the Str Furthermore he learned that the youth had a very pressing message For the Secretary of the Exchange and Seales was not long in putting two and two together. It was a time when rumours flew thick and fast and and the wilder they were the more attention was paid' them, But this thing Seales stumbled was no rumour.
Phe Short Wait He sent the boy to a bar near by to wait for fifteen minutes while went back to his fice, and he ould make it all ight' for the short wait? He did, both by the messenger and by himself, He returned to his office and pouring out stock in euch volume that all Wall Street wonder= who had dared the banking. roup; never did they look toward the cotton king straying to the share narker. Bat' Seales started a stream of selling orders that, one showing the way, brought in others from the outside and suen the ex: change war hit by one of thos panies for which there is no reason, There wasn't in this ease, until the following morning when a brie announcement was made from the of the Exchange. It was "The Knickerbocker Trust Company announces it cannot meet 'And the next day the messenger was soon arrayed in the then height of fashion, a beiyht green sult, pink shirt' and violet sucks, And his pocket reposed a crisp $1,000 that was promptly lost in the market the following day, the story went,
Text read from the printed page and cleaned; old type leaves the occasional error.