've got them! Twenty-six thousand two hundred shares, that's what
we've got. Now, do you see what that means?"

"Why yes," she answered, with a faint-hearted assumption of confidence.
"Of course, you know the property is so good that you'll make a profit
on the shares you've bought far below their value. But I don't think I
quite see----"

He interrupted her with an outburst of loud laughter. "Don't think you
quite see?" he gurgled at her, with tears of pleasure in his eye. "Why,
you dummy, you haven't got the faintest glimmer of a notion of what it's
all about. The value of the property's got nothing in the world to
do with it. That's neither here nor there. If there wasn't any such
property in existence, it would be just the same."

He had compassion upon her blank countenance, at this, and explained
more gently: "Why, don't you see, Lou, it's this way. This is what has
happened. We've got what's called a corner on the bears. They're caught
short, and we can squeeze them to our hearts' content. What--you don't
understand now? Why, see here! These fellows who've sold twenty-six
thousand of our shares--they haven't got them to sell, and they
can't get them. That is the point--they can't get them for love nor
money--they must pay me my own price for them, or be ruined men. The
moment they realize the situation, they will begin offering a premium
for Rubber Consols. The price of a one-pound share will be two pounds,
then four--six--ten--twenty--thirty--whatever I want to drive it to."

Louisa stared up at him with wide open eyes. It seemed to her that she
understood now. It was very exciting.

"You see," he went on, taking approving note of the new light of
comprehension in her glance, "we did something that Tuesday afternoon
beside buy up these shares. Semple rushed off to his office, and he and
his clerks got up a lot of dummy applications for shares, made out in
all the different names they could be safe in using, and they put these
into the bank with the application money--Semple found that--and next
day he went and saw the advertising agent and the solicitor and the
auditors--and got them to pool the shares that I've promised to give
them. A pool? That means they agree to transfer their shares to me
as trustee, and let me deal with them as I like--of course to their
advantage. In any case, their shares are vendor's shares, and couldn't
be dealt with in this transaction. So you see the thing is hermetically
seale