even began to offer
ninety-four. At every suspicion of a flurry Grossmann, always with the
same gesture as though hurling a javelin, always with the same
lamentable wail of distress, cried out:
"'Sell twenty-five May at ninety-five and a fourth."
He held his five fingers spread to indicate the number of "contracts,"
or lots of five thousand bushels, which he wished to sell, each finger
representing one "contract."
And it was at this moment that selling orders began suddenly to pour in
upon the Gretry-Converse traders. Even other houses--Teller and West,
Burbank & Co., Mattieson and Knight--received their share. The movement
was inexplicable, puzzling. With a powerful Bull clique dominating the
trading and every prospect of a strong market, who was it who ventured
to sell short?
Landry among others found himself commissioned to sell. His orders were
to unload three hundred thousand bushels on any advance over and above
ninety-four. He kept his eye on Leaycraft, certain that he would force
up the figure. But, as it happened, it was not Leaycraft but the
Porteous trio who made the advance. Standing in the centre of the Pit,
Patterson suddenly flung up his hand and drew it towards him, clutching
the air--the conventional gesture of the buyer.
"'Give an eighth for May."
Landry was at him in a second. Twenty voices shouted "sold," and as
many traders sprang towards him with outstretched arms. Landry,
however, was before them, and his rush carried Paterson half way across
the middle space of the Pit.
"Sold, sold."
Paterson nodded, and as Landry noted down the transaction the hand on
the dial advanced again, and again held firm.
But after this the activity of the Pit fell away. The trading
languished. By degrees the tension of the opening was relaxed. Landry,
however, had refrained from selling more than ten "contracts" to
Paterson. He had a feeling that another advance would come later on.
Rapidly he made his plans. He would sell another fifty thousand bushels
if the price went to ninety-four and a half, and would then "feel" the
market, letting go small lots here and there, to test its strength,
then, the instant he felt the market strong enough, throw a full
hundred thousand upon it with a rush before it had time to break. He
could feel--almost at his very finger tips--how this market moved, how
it strengthened, how it weakened. He knew just when to nurse it, to
humor it, to let it settle, and when to cr
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