The Spenders Part 39

In the afternoon they fell into the procession of carriages streaming toward the park. The day was pleasantly sharp, the clear sunshine enlivening, and the cob was one with the spirit of the occasion, alertly active, from his rubber-shod, varnished hoofs to the tips of his sensitive ears.

"Central Park," said Uncle Peter, "always seems to me just like a tidy little parlour, livin' around in them hills the way I have."

He watched the glinting of varnished spokes, and listened absently to the rhythmic "click-clump" of trotting horses, with its accompanying jingle of silver harness trappings.

"These people must have lots of money," he observed. "But you'll go in and outdo 'em all."

"That's what! Uncle Peter."

Toward the upper end of the East Drive they pa.s.sed a victoria in which were Miss Milbrey and her mother with Rulon Shepler. The men raised their hats. Miss Milbrey flashed the blue of her eyes to them and pointed down her chin in the least bit of a bow. Mrs. Milbrey stared.

"Wa'n't that Shepler?"

"Yes, Shepler and the Milbreys. That woman certainly has the haughtiest lorgnon ever built."

"She didn't speak to us. Is her eyes bad?"

"Yes, ever since that time at Newport. None of them has spoken to me but the girl--she's engaged to Shepler."

"She's a right nice lookin' little lady. I thought you was kind of taken there."

"She would have married me for my roll. I got far enough along to tell that. But that was before Shepler proposed. I'd give long odds she wouldn't consider me now. I haven't enough for her with him in the game."

"Well, you go in and make her wish she'd waited for you."

"I'll do that; I'll make Shepler look like a well-to-do business man from Pontiac, Michigan."

"Is that brother of hers you told me about still makin' up to that party?"

"Can't say. I suppose he'll be a little more fastidious, as the brother-in-law of Shepler. In fact I heard that the family had shut down on any talk of his marrying her."

"Still, she ought to be able to do well here. Any man that would marry a woman fur money wouldn't object to her. One of these fortune-hunting Englishmen, now, would snap her up."

"She hasn't quite enough for that. Two millions isn't so much here, you know, and she must have spent a lot of hers. I hear she has a very expensive suite back there at the Arlingham, and lives high. I did hear, too, that she takes a flyer in the Street now and then. She'll be broke soon if she keeps that up."

"Too bad she ain't got a few more millions," said Uncle Peter, ruminantly. "Take one of these t.i.tled Englishmen looking for an heiress to keep 'em--she'd make just the kind of a wife he'd ought to get. She certainly ought to have a few more millions. If she had, now, she might cure some decent girl of her infatuation. Where'd you say she was stoppin'?"

"Arlingham--that big private hotel I showed you back there."

Percival confessed to his mother that night that he had wronged Uncle Peter.

"That old boy is all right yet," he said, with deep conviction. "Don't make any mistake there. He has bigger ideas than I gave him credit for.

I suggested branching out here in a business way, to-day, and the old fellow got right in line. If anybody tells you that old Petie Bines hasn't got the leaves of his little calendar torn off right up to date you just feel wise inside, and see what odds are posted on it!"

CHAPTER x.x.xI.

Concerning Consolidated Copper and Peter Bines as Matchmakers

Consolidated copper at 110. The day after his talk with Uncle Peter, Percival through three different brokers gave orders to buy ten thousand shares.

"I tried to give Relpin an order for five thousand shares over the telephone," he said to Uncle Peter; "but they're used to those fifty and a hundred thousand dollar pikers down in that neighbourhood. He seemed to think I was joshing him. When I told him I meant it and was ready to take practically all he could buy for the next few weeks or so, I think he fell over in the booth and had to be helped out."

Orders for twenty thousand more shares in thousand share lots during the next three weeks sent the stock to 115. Yet wise men in the Street seemed to fear the stock. They were waiting cautiously for more definite leadings. The plunging of Bines made rather a sensation, and when it became known that his holdings were large and growing almost daily larger, the waning confidence of a speculator here and there would be revived.

At 115 the stock rested again, with few sales recorded. A certain few of the elect regarded this calm as ominous. It was half believed by others that the manipulations of the inner ring would presently advance the stock to a sensational figure, and that the reckless young man from Montana might be acting upon information of a definite character. But among the veteran speculators the feeling was conservative. Before buying they preferred to await some sign that the advance had actually begun. The conservatives were mostly the bald old fellows. Among the illusions that rarely survive a man's hair in Wall Street is the one that "sure things" are necessarily sure.

Percival watched Consolidated Copper go back to 110, and bought again--ten thousand shares. The price went up two points the day after his orders were placed, and two days later dropped back to 110. The conservatives began to agree with the younger set of speculators, in so far as both now believed that the stock was behaving in an unnatural manner, indicating that "something was doing"--that manipulation behind the scenes was under way to a definite end. The conservatives and the radicals differed as to what this end was. But then, Wall Street is nourished almost exclusively upon differences of opinion.

Percival now had accounts with five firms of brokers.

"Relpin," he explained to Uncle Peter, "is a foxy boy. He's foxier than a fox. He not only tried to hedge on what he told me,--said he'd been drinking absinthe _frappe_ that day, and it always gets him dreamy,--but he actually had the nerve to give me the opposite steer.

Of course he knows the deal clear to the centre, and Shepler knows that he knows, and he must have been afraid Shepler would suspect he'd been talking. So I only traded a few thousand shares with him. I didn't want to embarra.s.s him. Funny about him, too. I never heard before of his drinking anything to speak of. And there isn't a man in the Street comes so near to knowing what the big boys are up to. But we're on the winning cards all right. I get exactly the same information from a dozen confidential sources; some of it I can trace to Relpin, and some of it right to Shepler himself." "Course I'm leavin' it all to you,"

answered Uncle Peter; "and I must say I do admire the way you take hold and get things on the move. You don't let any gra.s.s grow under _your_ heels. You got a good head fur them things. I can tell by the way you start out--just like your pa fur all the world. I'll feel safe enough about my money as long as you keep your health. If only you got the nerve. I've known men would play a big proposition half-through and then get scared and pull out. Your pa wa'n't that way. He could get a proposition right by its handle every time, and they never come any too big fur him; the bigger they was, better he liked 'em. That's the kind of genius I think you got. You ain't afraid to take a chance."

Percival beamed modestly under praise of this sort which now came to him daily.

"It's good discipline for me, too, Uncle Peter. It's what I needed, something to put my mind on. I needed a new interest in life. You had me down right. I wasn't doing myself a bit of good with nothing to occupy my mind."

"Well, I'm mighty glad you thought up this stock deal. It'll give you good business habits and experience, say nothing of doubling your capital."

"And I've gone in with Burman on his corn deal. He's begun to buy, and he has it cinched this time. He'll be the corn king all right by June 1st; don't make any mistake on that. I thought as long as we were plunging so heavy in Western Trolley and Union Cordage, along with the copper, we might as well take the side line of corn. Then we won't have our eggs all in one basket."

"All right, son, all right! I'm trustin' you. A corner in corn is better'n a corner in wild-oats any day; anything to keep you straight, and doin' something. I don't care _how_ many millions you pile up! I hear the Federal Oil people's back of the copper deal."

"That's right; the oil crowd and Shepler. I had it straight from Relpin that night. They're negotiating now with the Rothschilds to limit the output of the Rio Tinto mines. They'll end by controlling them, and then--well, we'll have a roll of the yellow boys--say, we'll have to lay quiet for a year just to count it."

"Do it good while you're doin' it," urged Uncle Peter, cheerfully. "I rely so much on your judgment, I want you to get action on my stuff, too. I got a couple millions that ought to be workin' harder than they are."

"Good; I didn't think you had so much gambler in you."

"It's fur a worthy purpose, son. And it seems too bad that Pishy can't pull out something with her bit, when it's to be had so easy. From what that spangle-faced beau of hers tells me there's got to be some expensive plumbing done in that castle he gets sawed off on to him."

"We'll let sis in, too," exclaimed her brother, generously, "and ma could use a little more in her business. She's sitting up nights to corner all the Amalgamated Hard-luck on the island. We'll pool issue, and say, we'll make those Federal Oil pikers think we've gnawed a corner off the subtreasury. I'll put an order in for twenty thousand more shares to-morrow--among the three stocks. And then we'll have to see about getting all our capital here. We'll need every cent of it that's loose; and maybe we better sell off some of those dead-wood stocks."

The twenty thousand shares were bought by the following week, five thousand of them being Consolidated Copper, ten thousand Western Trolley, and five thousand Union Cordage. Consolidated Copper fell off two points, upon rumours, traceable to no source, that the company had on hand a large secret supply of copper, and was producing largely in excess of the demand every month.

Percival told Uncle Peter of these rumours, and chuckled with the easy confidence of a man who knows secrets.

"You see, it's coming the way Relpin said. The insiders are hammering down the stock with those reports, hammering with one hand, and buying up small lots quietly with the other. But you'll notice the price of copper doesn't go down any. They keep it at seventeen cents all right.

Now, the moment they get control of the European supply they'll hold the stuff, force up the selling price to awful figures, and squeeze out dividends that will make you wear blue gla.s.ses to look at them."

"You certainly do know your business, son," said Uncle Peter, fervently. "You certainly got your pa's head on you. You remind me more and more of Dan'l J. Bines every day. I'd rather trust your judgment now than lots of older men down there. You know their tricks all right.

Get in good and hard so long as you got a sure thing. I'd hate to have you come meachin' around after that stock has kited, and be kickin'

because you hadn't bet what your hand was worth."