ake Shore, Wabash; in all
the local streetcar lines; and in Cowperwood's city loans at constantly
falling prices was sufficient to take the heart out of all concerned.
He hurried to Arthur Rivers's side in the lull; but there was little he
could say.

"It looks as though the Mollenhauer and Simpson crowds aren't doing much
for the market," he observed, gravely.

"They've had advices from New York," explained Rivers solemnly. "It
can't be supported very well. There are three insurance companies over
there on the verge of quitting, I understand. I expect to see them
posted any minute."

They stepped apart from the pandemonium, to discuss ways and means.
Under his agreement with Stener, Cowperwood could buy up to one hundred
thousand dollars of city loan, above the customary wash sales, or market
manipulation, by which they were making money. This was in case the
market had to be genuinely supported. He decided to buy sixty thousand
dollars worth now, and use this to sustain his loans elsewhere. Stener
would pay him for this instantly, giving him more ready cash. It
might help him in one way and another; and, anyhow, it might tend to
strengthen the other securities long enough at least to allow him to
realize a little something now at better than ruinous rates. If only
he had the means "to go short" on this market! If only doing so did not
really mean ruin to his present position. It was characteristic of the
man that even in this crisis he should be seeing how the very thing that
of necessity, because of his present obligations, might ruin him, might
also, under slightly different conditions, yield him a great harvest. He
could not take advantage of it, however. He could not be on both sides
of this market. It was either "bear" or "bull," and of necessity he was
"bull." It was strange but true. His subtlety could not avail him here.
He was about to turn and hurry to see a certain banker who might loan
him something on his house, when the gong struck again. Once more
trading ceased. Arthur Rivers, from his position at the State securities
post, where city loan was sold, and where he had started to buy for
Cowperwood, looked significantly at him. Newton Targool hurried to
Cowperwood's side.

"You're up against it," he exclaimed. "I wouldn't try to sell against
this market. It's no use. They're cutting the ground from under you.
The bottom's out. Things are bound to turn in a few days. Can't you hold
out? Here's more tr