to Curtis
Jadwin, remarked:

"I understand that Leaycraft alone lost nearly fifteen thousand."

He referred to Jadwin's deal in May wheat, the consummation of which
had been effected the previous week. Squarely in the midst of the
morning session, on the day following the "short" sale of Jadwin's
million of bushels, had exploded the news of the intended action of the
French chamber. Amid a tremendous clamour the price fell. The Bulls
were panic-stricken. Leaycraft the redoubtable was overwhelmed at the
very start. The Porteous trio heroically attempted to shoulder the
wheat, but the load was too much. They as well gave ground, and, bereft
of their support, May wheat, which had opened at ninety-three and
five-eighths to ninety-two and a half, broke with the very first attack
to ninety-two, hung there a moment, then dropped again to ninety-one
and a half, then to ninety-one. Then, in a prolonged shudder of
weakness, sank steadily down by quarters to ninety, to eighty-nine, and
at last--a final collapse--touched eighty-eight cents. At that figure
Jadwin began to cover. There was danger that the buying of so large a
lot might bring about a rally in the price. But Gretry, a consummate
master of Pit tactics, kept his orders scattered and bought gradually,
taking some two or three days to accumulate the grain. Jadwin's
luck--the never-failing guardian of the golden wings--seemed to have
the affair under immediate supervision, and reports of timely rains in
the wheat belt kept the price inert while the trade was being closed.
In the end the "deal" was brilliantly successful, and Gretry was still
chuckling over the set-back to the Porteous gang. Exactly the amount of
his friend's profits Jadwin did not know. As for himself, he had
received from Gretry a check for fifty thousand dollars, every cent of
which was net profit.

"I'm not going to congratulate you," continued Cressler. "As far as
that's concerned, I would rather you had lost than won--if it would
have kept you out of the Pit for good. You're cocky now. I know--good
Lord, don't I know. I had my share of it. I know how a man gets drawn
into this speculating game."

"Charlie, this wasn't speculating," interrupted Jadwin. "It was a
certainty. It was found money. If I had known a certain piece of real
estate was going to appreciate in value I would have bought it,
wouldn't I?"

"All the worse, if it made it seem easy and sure to you. Do you know,"
he added suddenly.