d it seemed but a
cynical way of saying that his sole sweetheart was gold; but when he
reached his room and glanced at the tape its meaning was written plain.
Navajoa was quoted at six. He brushed aside his excited clerk and called
up Buckbee on the 'phone.
"What?" yelled Buckbee as he recognized his voice, "have you been here
all the time? My God, man, I've got the whole police department after
you! You've ruined me! I've gone to the wall! Yes, bankrupt, I tell
you, unless you go to the bank and put up collateral for my loans. Why
didn't you tell me you only had credit of a million dollars in all? You
said: 'Buy all you can get!' and by the gods they threw it in my face
with both hands! Hundreds of shares, thousands of shares! And then when
I called you up your clerk said you had gone. Well, I had my orders and
you can't say I weakened--I bought thirty-two thousand shares!"
"'Thirty-two thousand!' Well, what are you kicking about? That gives me
control of the mine. But say, what the devil does this ticker mean,
quoting Navajoa at six dollars a share?"
"It means!" shouted Buckbee, "that you bid up the market until I paid
forty-three for the last and then Whitney K. Stoddard dumped every share
he had and cut the ground out under your feet! You're obligated to make
up a total deficiency of nearly a million at the bank; your loans have
been called, and mine have been called, and the stock is forfeit for the
debt. You've lost your stock that you bought on a margin and unless you
can take up these loans, every blessed share of Navajoa will go to
Stoddard and his bank."
"To Stoddard! Well, what does that bank outfit mean by grabbing all my
shares? Ain't my name good for about fifty million? Did I ever default
on a debt? I'm going right down there and tell that president to give me
back every share, and if he don't----"
"Oh, now don't talk that stuff! Just go down and put up some collateral.
That's all that will save you--they've got the law behind them and
they're strictly within their rights. No, now listen! You borrowed a
half a million dollars at the bank this morning and put up your Navajoa
for collateral. It was worth twenty-four then, but now, by my ticker,
it's only five and a half. Can't you see where you are? Stoddard caught
you napping and he'll never let up till you're broke. You valued it at
thirty, but he'll keep the market down to nothing until you settle up and
liquidate thos
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