B.JWJUJlHJHUIMM,a.'l
STORIES WALL STREET
Cm tfhC
ontrol of the
ijt I .ouis loathe
rn
'hy LOUIS JOSEPH VANCE
S.OSBPH W. BARK was a
unique product of tho stu
pendous boom In trust
building which had swept
Into Wall street on a tidal
wave of dollars a hundred
J dred individuals who had
stam bored aboard tho somowhat pi
Iwttcal craft of tho promoters.
Tho wave receding, his fellow voy
(genre had been hurried back, one by
jone, into tho obscurity whence thoy
wwued, but Barr made land and, in
cidentally, financial history.
In tho old days as a drummer for a
hardware house," Joe" Barr bad earn
ed tho reputation of tho nervlost poker
player west of Chicago. But ho also
lold goods, and when a friend of his
uoncelved the Idea of making a nail of
Wre in placo of Iron tho two had com
bined -their slender resources and built
a plant for its manufacture, which de
veloped until it was finally promoted
Into the wire nail trust Barr found
himself in possession of an oven $10,
000,000 and plenty of time to tilt with
fortune.
A brief survey of the flold convinced
klm that only in Wall stroet was the
limit sufficiently Indefinite and the
Stakes great enough to Justify his un
Ivlded attention. He promptly form
led the brokerage house of Willis, Barr
Mb Co., with John Willis as stock ex
change member and several of his
western friends as special partners,
cd shuffled the pack preparatory to
making the bespectacled financiers in
jcobwebbed banking parlors "sit up,"
M he tersely put it
And sit up they did, even to his, If
t their, entire satisfaction. Thoy
t up nights trying to puzzle out
hat this "western gambler," as they
anlmously declared him to be, would
io next In all things but ono, Jo-
eph W. Barr walked with the hand
fortune, and it was out of this one
ulfllled desire that came ono of the
oat amazing deals In the annals of the
treet.
If you had looked in on the Wall
ktreot offices of Willis, Barr & Co.,
where a doren tickers spun out their
miles of fraction-laden tape, each frac
tion a fortune lost or won, and where
m many telegraph instruments flashed
paesBages to great cities afar, you would
have thought last of all that the short,
(at man, with so much double chin
jthat It scarcely yielded way to the silk
handkerchief stuffed beneath It had
social ambitions. But he had.
Two months before he had been
hopelessly blackballed at the most ex-
Eiive club In the city, and Barr's
1 still burned hot with anger at
banker whom he knew to be re
sponsible. This man had "stacked
E) cards," he told his western friends,
d with this explanation went the aa
taurance that ho would somehow get
eren If ho "went broke" doing it.
And oven as Barr watched the spin
ning tape it was telling him that his
Chance had come. With the loose ends
of his handkerchief he mopped his
face, a perpetual occupation of the
man, and each click, click of the in
strument, translated, said to him:
'"Fve got him, I've got him."
Through the subterranean channels
of Information with which tho street is
honeycombed Barr had learned some
thing a week beforo which led to a
lose consultation with his partners
from the west At its end he had sent
tor Banford Piercq, the shrewdest ma
nipulator of stocks the street had ever
known.
The place of the stock manipulator
jln the economy of Wall street is so
dearly defined that while, he holds be
tween Bis hands tho fate of vast
schemes, some reputable, many not,
stare is no. known inal&noe of 'a breach
of trout on his part his loyalty to
his employers is his stock in trade.
Moreover in this Instance Pierce wae
a man after Barr's own heart, a
corner of puny tradition and a hardy
soldier of fortune on many fleldB.
Therefore in the prlvaoy of his own
co Barr went straight to bis work
d tho other listened with something
o a reuow artists appreciation of
tho cunning of the thing for it was
the game of games and a brother's
pathy for tho genius of it all, the
t wrath of a gambler thwarted.
"In tho first place, Plorco," began
Barr, with a smllo that was far from
pleasant "I am going to tell you
tkankly that I'm In this thing to satis
br a personal grudge. That will show
jpoa how much confidence I put ip you
and 'to what lengths I'm ready to go
to carry It through. It is neither a
Question of spending money nor mak
ing it although I guess well do both
beforo it's over.
"What I want la the control of tho
St Louis Southern railroad, and from
some things I've learned I think thore
is a good chanoe to get it. The capital
of the road, as you know, is $40,000,-'
000; that's 400,000 shares. In addition
to that, I know that it has just bought
a smaller road, and to pay for it is con
sidering tho question of Issuing 60y000
bares of stock authorized a long time
ago and held in the treasury. It is on
heso 60,000 shares that I'm counting
for success.
"When they aro issued It will take
about 235,000 out of the 460,000 shares
to carry control. I've made some pretty
careful Inquiries and calculations as
to whore and how the St Louis stock
Is held, and Jotted down the facta."
Barr took from his desk a memoran
dum and read the tabulated figures
slowly:
"In investors' bands.... 80,000 shares
"In the street ,40,000 shares
"In London 60,000 shares
In Willis, Barr & Co.. 10,000 shares
In Bowman & Co., and
friends 210,000 shares
I?
"Total 400,000 shares
Copyright, bjr Street A Smith.
"Of course," Barr continued, hand
ing the memorandum to Pierce, "tho
figures aro approximate, except tho
nest-egg I've picked up here and there
In tho last few days.
"How to get what wo waul of these
holdings Is, of course, for you to say
I presume you've got to hammer St
Louis down to scaro out stock from
tho Investors, and the street and Lon
don, but I know you've got to put it up
to get that 60.1)00 shares from the
road's mnangeraent If you put It
from $ 100 a uharo, where it Is now, to
$110, it will moan ten dollars a share,
or G00,000 In their treasury, if they
sell. They'll sell quick. They'll do
it too, for fear it'll go down again.
They'll sell It before It's listed on
tho exchange for that takes 30
days.
"You know what that means. Thoy'll
have sold something they haven't got
until tho 30 days are up. In tho mean
time, they'll borrow, without knowing
It, our stock, the stock we've corralled,
and when we call on them for It they
won't havo it to glvo us and wo can
make 'em settle for any figure we're
kind enough to name."
Pierce nodded appreciation of this
mine that was being laid for the un
wary management
"What about Bowman & Co's
stock?" ho queried. "They've got the
control."
He knew the answer before he ask
ed the question.
Barr got up from his choir and
walked over to the screened window.
He looked out on tho hurrying Wall
street crowd, mopping his face with the
handkerchief ends.
"Pierce," he said, facing tho manip
ulator with a quiok movement "the
banking house of Bowman & Co. will
sell that stock for tho road. They'll
sell short a big block of their own
stock at the price we'll put it to, ex
pecting to get it back lower."
These and other essentials worked
out Pierc sent for his personal
broker, William Hathaway, whoso
standing in the street was of tho high
est which is to say that his connec
tion with Pierce was absolutely un
known. To him Pierce told as llttlo
as might bo of tho business in hand,
and personally assumed all responsi
bility for tho deal.
"I've got some information on
crops," Pierce explained, confiden
tially. "Thoy're bad In the southwest,
and wo'U sell the granger roads In
that territory, as they depend on crops
for earnings. fit Louis Southern
ought to feel It most. This is Thurs
day; you sell 60,000 shares of the
other three southwest roads and 30,000
of St Louis. We'll buy back our short
stock when St. Louis reaches 93, seven
points under Its present price. If you
have to sell more to break the market
down, go ahead, but bo careful about
raising suspicion."
The broker hurried away, proud of
bis supposod possession of the "old
man's" confidence, and Pierce ar
ranged through other brokers for the
purchase of tho bulk of the stock
Hathaway sold and all the St. Louis
Southern that frightened holders
might throw ovor on tho break.
The well-planned attack had Imme
diate effect. Tho grangers, Including
St Louis Southern, had broken 1
"points at tho close and on Friday,
when the bears had Joined the move
ment, they broke still further, big stop
loss orders having been reached at 87
In St Louis, which closed at 06V. On
Saturday sales of 10,000 shares of St
Louts for London account and a bad
statement by tho banks, whose re
sources had been depleted through
cash withdrawals by Barr's Chicago
banking friends, offset dispatcheslrom
tho maligned west telling of bumper
crops. Tno financial writers ascribed
the weakness to a bear raid for quick
profits, so skilfully had Pierce con
cealed its real object.
St. Louis Southern touched 93
shortly after the bank statement was
Issued, but rallied sharply at tho close
to 84. Tho Hoor said tho rally was
due to evening up purchases by tho
bears, but It really came from whole
sale buying by Pierce's unknown
brokers. St Louis Southern had been
put down seven (polnts without arous
ing suspicion, and tho shrewd manipu
lator felt that ho had shaken out as
much weak stock as could bo done
with impunity.
After tho close of the market Plorco
went down to Sheepshoad Bay to
watch one of his horses win tho Sea
side stakes. In the paddock before tho
raco he met Barr, who was looking
over .Chelton, the western champion
that his Chicago friend, James B.
Blake, had brought east to meet the
season's cracks.
,;Woll," said Barr, ambiguously,
mopping bis face as usual, "you going
to win the Soasldo?"
"I usually win everything," an
swered Pierce, laughing. And the
two men laughed together and sep
arated.
On Sunday night Plerco met Barr
by appointment at tho latter's apart
ment In an uptown hotel. The manip
ulator had with him a memorandum
of his operations on tho bear sido of
the deal. Just closed.
"Pretty bad market the last three
days, Pierce," said Barr, with n
ohuckle. "Did you buy any stocks on
'the break?"
"I bought considerable St. Louis
Southern I 'think It's going higher,"
retorted the manipulator, and then ho
plunged Into tho facts.
"I don't know exactly bow much St
Louis we shook out on tho pounding
wo gavo It but my brokers accumu
lated 60,000 shares. We're short
about 30,000 shares of othor stocks put
nut trt halri tht mnrlrnt hut T friiana
we can cover them at a loss of abo'f '
1100,000. I didn't dare covor them en
Saturday.
"With your 10,00we'vo got now 70,
000 shares of St Louis and can count
safely on tho 60,000 tho management
will bo Induced to put out. Tlml
makes 130,000 shares, and wo need
only 105,000 additional to glvo you
coinpleto control."
A' sudden wave of anger swept him;
ho was again tho old hardware druin
mcr:
"Damn him," he cried, "damn html
I'll toko his railroad from him Hko
you'd tnko a toy from a kid. I'll make
him ashamed to show his faco in tho
street hero, where ho was fooled out
oi his road, and at lite club, where he
blackballed tho man who was smart
enough to do It"
"Old Pierce," as Now street called
him with blind affection, loft tho of
fices of Willis, Barr & Co. by the back
door, with a smllo llko a Bleeping in
fant's on his narrow, clear-cut faco.
Tho task was no less to his lilting bo-
cause Uowmnn's crack filly Altalr hod
beaten his own Boxwood In the last
Suburban.
Point by point tho manipulator wont
ovor the details of tho deal, and It
grow under his hand llko a battle plan
under that of a general. The bulk of
the money noedod Barr was to get In
Chicago, among his banking friends,
so tho local banks might havo no Ink
ling of the matter. The controlling
stock, Plorco figured, ought to bo ob
tnlnod at about $110 a share, which
meant $25,000,000. all but $6,000,000 of
which would be obtained on loans on
the stock bought Commissions to
brokers for buying tho stock, and for
purchases and sales of othor stocks to
manlpulato tho market would call for
about $300,000; for Plerco received re
ductions from tho brokers In spite of
tho strict exchange rules. The enor
mous orders he distributed In his ma
nipulations would tempt any broker to
break any number of rules.
Barr sighed contentedly and settled
back to his big chair. Ho seemed loath
to break tho chain of pleasant thoughts
the manipulator's words had brought
to him. The light from tho shaded
oloctrlc table lamp foil on his face,
which was round and boyish, but for
tho light, half-grayish mustache.
"Well," ho said, finally, "what next?
Up?"
"Yes, up. We'll lead the manage
ment of tho road Into temptation and
we'll draw out 36,000 shares from Lon
don, where they lovo a speculation,
and from the streot, which Ib Joined to
it by bonds of unholy wedlock. In
vestors won't sell on a ralso, and we'll
have to get tho other 70,000 shares
for control "
"You get that and moro from Bow
man," broke in Barr. "I want to seo
some stock with his name on the back
of it"
Tho market opened up on Monday.
The financial writers told how base
less, really, had been the previous de
cline, and hinted at a bear raid for
quick profits. Good crop news and
splendid earnings tumbled Into the
market and so restored confidence
with a little help from tho kindly dis
posed Pierce that by Thursday tho
list had climbed back to its level be
fore the raid and St. Louts was selling
at 100 again.
Therefore, for two weeks, that
seemed as many years to Joseph W.
Barr, hungry for revenge, Pierce pa
tiently and persistently bulled the
market
It was only St. LouIb Southern that
Pierce actually bought and ho took all
that offered. On Monday, two weeks
after tho bull movement had beeu put
under way, ho saw Barr for a monwnt
and told him 20,000 shares had come
In on tho movement.
"I can't find any of the management's
stock, although St. Louis is now at
105, ' Plerco concluded. "I don't dare
put It up faster. It would rouso sub.
plclon." And Barr had to ndmit this.
Impatient as ho was.
In tho banking house of Robert Bow
man & Co. tho strength of St Loula
Southern had not passed unnoticed.
Its slump in tho downward movement
had been accepted as a part of the gen
eral bear raid.
On Monday the stock touched 105.
Bowman met by appointment at lunch
eon two of his fallow members of the
executive committee of tho St. Louis,
and they had agreed that It was a good
time to put out the 60,000 shares of
Btock in tho treasury.
"It is difficult to tell bow long this
movement will last," said Btfwman,
who was a nervous little man with
family traditions, social ambitions and
a big racing stable. "It's those west
ern gamblers, of courso, and It might
not be a bad idea to take advantage of
their 'foolish bulling.
"If we put out 30,000 shares of the
stock at 106 that will mean $180,000
moro than wo could get at par, and
If It goes farthor wo can put tho oth
er 30,000 out, too."
The board of directors met tho samo
uftornoon. They authorized tho Issue
of tho stock and put Its sale, which
wan to bo secret, as tho new shares
would not be good dollvory to buyers
for tho prescribed 30 days, In Bow
man's hande, It meant a commission
of two per cent, or $12Q,000, to Bow
man & Co.
On the following morning Bowman
reached-bis office earlier than usual
and sent for Walter Carruth of tho
stock exchango firm of Carruth & Hen
drlo, who bandied all of Bowman &
Co.'s oxchango business. Tho mar
ket had Just opened and he was at the
ticker when Carruth entered.
"Mr. Carruth," Bowman said at once,
"I see that tho market Is very strong,
and that St .Louis Soutborn has open-
d at 105. Tho directors of the St.
Louis have voted to sell 60,000 shares
of stock now In the treasury, and thlo
Beems a good timo to put It out. Do
you think tho market will take 30,000
shares around 100?"
"Enslly, Mr. Bowman. This market
Is so broad and strong that It would
take tho entire lsauo and advance on
It, I believe." Carruth belloved this
fully, and, bcsldos, the sale of 60,000
shares meant a commission of $7,600
for hlc firm.
"That Is also my belief, but we'll
put out 30,000 shares first As much
as you ca.n of It today, It it touches
106. I cant bolleve It will go much
higher, but we'll try It anyway.
"I think the entire market will gc
higher, Mr, Bowman," said Carruth, as
he rose to go.
Bowman laughed a llttlo.
shall bo sorely tempted to turn bear
and sell somo of my porsonal holdings.
I'm sure Td got thom back lower,
"By tho way, I think you hod bettor
glvo up your name as tho seller, It Is
best to keep tho road out of tho mat
ter, as It will bo somo tlmo before we
can deliver tho new slock. You con
borrow It easily onough meantime."
And It was this samo afternoon, a
hot Tuesday of July, that Barr stood
over tho tlokor in his Wall street of
flco and listened to tho message of tho
busy llttlo machine, which told him
in plooslng words: "You've got him!"
words which tho watching man
transposed Into "Pvo got him," qulto
naturally. .
For St Louis touched 106 at ono
o'clock, and Carruth began to sell. Tho
ovor watchful Plerco detected this
soiling as soon as It began, and hur
ried a messoge, almost congratulatory,
to Barr with tho information.
With tho crumpled messago In his
pudgy hand, Barr hovered over the
ticker, hl(? yo shining but othorwiso
as cool as you would havo tho "nerv
iest pokor player west of Chicago."
Longitude is a trivial thing In a
gaino of chanco.
Through Tuesday afternoon and all
day Wednesday Carruth sold St Louis
Southern. At tho closo of Wednes
day he had put out the 30,000 shares
of management stock, and It was safe
ly In tho hands of Plorco's brokors,
who had kept the stock so easy to
borrow In tho loan crowd that no
thought bad boon raised of the accu
mulation. Undor tho manipulator's orders tho
stock had declined diplomatically on
tho heavier sales, but In company with
tho wholo market It had held woll,
closing at 106 on Wednesday. Plorco
had also taken In somo 9,000 shares
sold by tho arbitrage house for London
account.
On tho floor of tho exchango shortly
after noon Thursday a rumor gained
way that something good was coming
out on St Louis Southern. Tho stock
had touched 108, and in explanation of
tho rise wore offered storlos of in
creased dividends, and tho cutting of
a melon for the stockholders, which
is the street's way of describing an is
sue of new stock at a prico undor the
market
Floor members telephoned tho ru
mors to their houses, and the roportors
went to Bowman to confirm or deny
thom.
"I havo absolutoly nothing to say,"
tho banker told tho nowspapcr men, in
his familiar, family tradition mannor,
and convinced of tho truth of the
stories, they rushed tho news to their
papers. St Louis Southern began to
climb.
Bowman sent In hasto for Carruth,
who was on tho floor of the ox
change. "It seems, Mr. Carruth," ho Bald,
"that a foolish rumor of a molon cut
ting or dividend Increase in St
Louis has gained headway and tho
stock is going up. There Is absolute
ly no truth in either story, of courso;
but while the stock Is up on those
stories, I think you had bettor put out
the other 30,000 shares of treasury
stock. Walt a moment, please."
Bowman stepped quickly to the tick-
houses. With resistless logic ho went
on quickly to a realization that ho hod
sold Into bag which Unseen hands
hod held opon for tho slock. Tho 60,
000 shares of treasury stock; the 60,
000 shares he had sold for Bowman,
In all 120,000 shares and then lie re
membered tho break of tho Btock to
93 two weeks boforo. Itlggod tho
wholo market had boon rigged. A
snare had been laid and the control
of tho road
Two minutes Intor ho was panting
out his story to Bowman, who was Just
stopping Into his carrlago to bo driven
uptown. In his offlco, again, tho bank
er listened, silently, to tho story of
his undoing, for somothlng told him
that thu cunning hand behind it oil
had won, won Irretrievably.
Irretrievably? Tho word brought
him to a soldierly oroctnoss.
"Carruth," ho said, steadily, "you
havo my ordors to buy all the St Louis
Southern tomorrow you can get Thoro
Is no limit as to prico. 1 shall cablo my
Paris connections, and my own re
sources are at your comatahu, It may
bo that wo aro mistaken; tomorrow
will toll, but wo must bo ready to fight
In any event "
There camo a timid knock at the
mullloned door, Tho two men looked
nt each other.
"Como In," called tho banker, qui
otly. "Ah Begs pa'don, Mlstoh Bowman.
It's a urgont message fr'm Mlstah Car
ruth's offls," and tho old negro usher
bowed apologetically.
Carruth tore tho messago from tho
wrapper with trembling fingers.
"Mr. Bowman, It's a call for tho re
turn tomorrow morning of 20,000
shores of St Iouls I borrowed to de
liver on tno first of tho now lssuo I
sold for you. It mcanB that pressure
Is now to bo put on us, for thoy know
wo con't deliver tho now stock for 30
days. Tho call Is from Frank Sol
den" "Who does ho trado for usually?
Do you know?" Bowman Interrupted.
"Why Josoph W. Barr Willis,
Barr & Co., you know?"
"Yes," Bowman answered quietly.
"I know now."
It will bo long before tho momory
of tho following day passes from tho
street, whore traditions are chorlshcd
as tenderly as aro lovo letters In old
lavender.
By four o'clock on Friday Plerco and
Barr know that thoy had 230,000 shares
of St. Louis sofoly In their bonds. To
mnko tho control socuro boyond ques
tion thoy hurried a trusted moBsongor
to Jersey City, whoro ho caught a fast
train for St Louis, and bought, at an
almost fabulous price, a block of 5,000
shares which Barr's Chicago friends
had located.
With tho mossenger under way thoy
IsBiied calls, through their brokors, for
all stock borrowed of thom, In ordor,
ns Barr said, to got all tho cards In
the dock. It was one of thene calls
which had reached Carruth In Bow
man's office.
The calls wont to houses all through
tho streot, and tho recipients read thom
over again and again, spelling ruin
out of tho brief words which demand
ed tho return of something they had
sold beforo thoy had It. Llko Car
ruth, they realised, now that It was
PREHISTORIC MAN IS FOUND
Fossil Remains of a Briton 170,000
Years Ago Discovered In the
Thames Valloy.
London. Back In a tlmo that no
man knows, 170,000 yonrs ago, lliero
lived In England n race of men, whoso
staluro and physical characteristics
did not differ materially from those of
tho Englishman of today a raco that
had shed all traces of Blmlan traits In
faco, feature and body( and whoso
brain cnvlty was larger than Is often
found In highly Intelligent people of
our modern ago. This has recently
been proven by tho discovery ot tho
mmMmMB
f&'l
W DriSTlfcef i
1 Old Hickory Smoked l
' Highest Quality jre
11 Finest Flavor li
xiv. la (I'd BluJnt your grocers MftS
8V Askforlibby'e XtM
SURELY DESERVES A MEDAL
A J'
ine Ancient union.
bones of a prehistoric man burled 17C
foot deep undor a terrace, which Is re
garded, and with good reason, as tho
anclont bed of tho Thnmcs rlvor.
There Is no rooson to believe that
tho elevation or depression of the
land, which leads to tho rise and fall
In tho level of tho river, haB not been
uuiform. Tho past must bo Judged
from what wo know of tho present,
and on this basis the land movement
which formed tho terrace, and which
has scarcely changed Blnce tho Roman
period, han been deposited at tho rate
of ono foot In 1,000 years, this as
signing a period of at IcaBt 170,000
years slnco tho htgh-lovol terrace was
laid down at Galley Hill, and tho an
cient Briton was entombed In the
river bed.
This anclont Briton was five feet
ono Inch In height. Tho neck was
enormously thick and tho chest was
narrow and protruding.
FINDS SECRET OF EGYPTIANS
er. which was recording tho climb ot
St. Louis. It was at 109. In tho si- too lato, that Barr had all tho stock
lonco of the banking room It was as there was atloat
if Pierce were In person holding out
to tho banker In his withered handB
the golden apples of the Hesperldes.
And tho banker grasped for thom.
He had been pouring millions Into a
vast schemo for tho control of tho
traction systems of threo big western
-cities; family tradition had driven htm
Into tho building of a palaco at Now
port; bis extensive racing stable, his
greater prldo, had boen running heav
ily behind at tho various meetings.
If ho sold 60,000 shares of his own
stock at 110 It would moon $600,000 in
cash to him at once, and ho felt that
ho could regain' it as Boon as this ab
surd bubble of melons and dividends
had been pricked. No ono but Car
ruth would know, and he was bound
to silence by self interest
Bowman sighed a little. Ho turned
to tho waiting broker.
"Carruth," ho said, slowly, "if tho
market will take It, you may sell 60,-
000 shares for my personal account
I'm finally a bear on my own road,
you see," and h,e tried hard to force
a laugh to go with tho Jest.
Carruth hurried back to tho floor,
and boforo tho closo, by the aid of tho
favorablo rumors regarding tho road,
had put out 35,000 shares. Tho sales
for tho day were over 90,000 shares,
and the stock closed at 110, tho high
est figure.
Friday brought forth long, detailed
stories In tho morning papers of great
things Impending In St. Louis South
ern, to all of which tho road's mana
gers, Including Howman, had refused,
bo ran tho stories, to glvo denials. It
was hinted by one paper that tho ro
cont activity In tho stock had been
duo to buying for control by a compet
ing road, tho Mississippi Central.
The stock at onco becamo the fea
ture of the trading. It opened nt
110, one-half of a point ovor Thurs
day's close, on a salo of 1,000 shares
by Carruth's brokers. This was taken
by a broker acting for Plorco, as was
tho block of 6,000 Bhiirue which follow
ed It at 110,. By noon over 100,000
shares had been traded In and Carruth
had put out and Pierce taken In 40,000
shares of Bowman's stock.
From noon on the St. Louis post was
a pin-point In a seething mass of hu
manity. In blocks of 1,000,2,000 and
3,000 shares Carruth hurled the rest of
tho banker's stock at tho market ox
pectlng to seo It break any moment
and anxious only to got It out at tho
high prices. But It didn't brtak. It
went steadily up In spite of tho fact
that tho bears were selling also.
When an explicit denial ot any deals
or anything else of a favorablo nature,
sent to tho floor by Bowman nt Car
ruth's request, 20 minutes beforo tho
closo of tho market, failed to check
tho rise, Carruth becamo uneasy. Ho
had tolophoned tho banker that as his
stock bad been put out It would chock
the excitement and start tho doclluo It
a statement were Issued, and Instead
of this tho excitement was Increas
ing and the stock still climbing.
And now for tho first tlmo Carruth
began to analyzo tho buying of St.
Louis, Hurried conferences with his
brokors resulted In a compilation ot
tho names of tho buyers, and ho found
that day after day tho stock hod ulti
"Well, If It does, Mr. Carruth, 1 1 mately gono to less than a dozen
Beforo tho opening of tho exchango
tho messengers who had been sent
hither and thither looking for stock to
borrow returned empty-handed and a
shlvor of fear ran through tho streot.
For the groat Northern Pacific cor
ner, when that stock went to ,$1,000 a
share undor the bidding of crazed
shorts, was fresh In tho memory of all.
From 113, where It oponed, St.
Louis Southorn soared to 120 beforo
thu first CO minutes were ended, and
men fought, llko beasts In a bear pit
for raw moat, for tho pitifully few
shares that camo from Loudon and
elsewhere.
Carruth, with Bowman's wealth and
tho millions of gold of tho banker's
European connexions behind him,
fought llko a man gono mad, but ho,
too, know It was a hopolcss flg"ht The
market was swept bare of St. Louis
Southern.
At 11:30 It touched 124 and ru
mors ot failures were flying fast
around the floor. Tho strain was toll
ing on men, and 050 trader, who was
short 7,000 shares, went suddenly
quite foolish, babbling llko a Utile
child. It was not a pleasant thing
to 800.
It was tho beginning of tho end,
howover, for at 11:45 tho president
of tho oxchange appeared In the
rotUmm and, when tho crazed men
had been at Inst qulotod, announced
that John Willis, of Barr & Co., had
assured hlui that thoro would be no
corner, and that St. Loula Southern
could bo borrowed freely of hlB firm
by those who were urgently In need of
tho stock. A hoarso cheer wont up
from tho raw throats of tho wearied
crowd.
Early that evening, when darknosB
was sifting down on tho streot and old
Trinity's spire stood outngalnst the
wostorn sky like a gigantic Index
flngor of tho spirit of the street, fn
tho offices of W. P. Martin & Co. there
met tho old and tho now owner of
tho St. Louis Southorn railroad. Mar
tin & Co. had already arranged for the
salo of Barr's holdings to n competing
wostorn road at a prico that later put
another $10,000,000 In his plunder
chest Bowman had corao In re
sponse to an Invitation from Martin
& Co., who wanted his now minority
holdings for tho samo road.
Barr was sitting on the corner of a
Hat-topped mahogany desk, against tho
glowing sido of whi.:h he was drum
ming an air with his boot heels, when
Martin Introduced Bowman. Ho shut
fled down clumsily nnd stretched out
his moist hand to tho llttlo banker,
whoso unshaven face, as Barr saw,
was haggard with exhaustion.
"Mr. Barr," Bowman said quietly,
"you havo bought a good railroad
and you might havo ruined mo and
did not." It waB an acknowledgement
nnd almost a quostlon.
"Well," said Barr, mopping his faco
undor tho stress of the thing, "you
raado tho rond, didn't you?" And
then with a burst of prldo In his mag
nanimity ho answered tho unasked
question:
"Damn It," ho sold, earnestly, as If
this must mako it clear to Bowman,
"domn It, I guess I'vo got somo milk
of human ktndnoss left."
Copyright, Stroet & Smith.)
r cf Hardening Copper Is Rcdlscov
ered by Railroad Fireman of
Kansas.
Newton, Kan. Tho proccsB of hard
enlng copper to tho tempor of steel,
an art known only to tho Egyptians
hundreds of years ago, has been redis
covered by a KansnB descendant ot a
long lino of metal workers, It Is de
clared. John Stlpp, a Santa Fo fire
man of this city, la said to hold tho
secret for which scientists of many
countries have sought for many ages.
In a tiny laboratory of a neat, well
kept cottage near tho railroad shops,
Record Act of Bravery That Is Set to
Credit of Intrepid Now
York Man.
Tho bravest man In New York
mado his appoarance In a Broadway
store last week. Ho carried an enor
mous bandbox which contained an
enormous hat In which the man want
ed what he considered an onormous
amount of money refunded. The man
was pretty mild and while looking for
some ono who had tho authority to
negotiate tho transaction he talked
loud onough for everybody to hoar.
"My wife bought this hat" ho said.
"Sho doesn't need it. Bho baa already
bought throo bats this spring. She
paid $36 for this ono. She has never
worn it It Just camo homo last night
I can't afford to throw all that money
away and I wont you to take the hat
back. Sho wouldn't bring it down, so
I undertook the Job fuyself."
"By the side of that man Napoleon
was a cringing coward," said th
young woman who had mado the sale.
"Imaglno his flouncing Into a Parisian
millinery shop with a hat that h
didn't want Josephine to buy. H
couldn't have done It Very few men
oan. Once in a long while some poor
New Yorker with the courage of
desperation in his heart returns mer
chandise which ho cannot afford to
buy for his wife and his audacity up
sets tho wholo store for a month."
Head on Crooked.
Llttlo Paul had nlways been taught
by his mother that God had made him
and that ho ought to bo thankful that
he had been mado so perfect; oyes,
ears, feet, hands and all complete.
His mothor had bought a new cook
stove and Paulio was examining it
He lifted tho reservoir lid and looked
in. There was his picture, as natural
as life, in tho water, but ho wbb sore
ly troubled, while looking at it. When
ooked, by his mothor, what tho trouble
was, ho said:
"Dod might o' mode mo persect, but
he put my head on trooked."
Took Professor's Word for It '
"Didn't you hear all of tho profes
sor's lecture?"
"Why, no. Ho began by saying that,
sloop is tho secret of right living
and then I camo homo and went to
bed." J
He Knew. '
Backer You got trimmed bail. I
thought you said you were confident
of tho result.
Pugilist I was. I kn"w I'd get
licked. Puck.
ona
That Liberal Congress.
"Washington has asked for
hundred additional policemen."
"What about It?"
"Congress wants to give them that
many now laws, instead."
John Stlpp.
looking for all tho world llko other cot
laces ot tho average laboring man, the
loBt nrt was recovered. John Stlpp'!
father, grandfather, great-grandfnthci
and how much further back he does
not know and docs not care, were
metal workers. For eight years he
hus unceasingly experimented In his
laboratory for tho secret burled with
tho nnclent Egyptians. Recently his
years of discouraging failure culmina
ted In success, and ho holdB a process
for tempering copper until It defies the
hardest files, ho says.
Certainly.
Teacher What happened when the
trmy fell into the ambush?
Little Willie Why, they were all
scratched up.
Walled Lakes of Iowa.
Des Molnos, la. Along tho watct
sheda of northern Iowa there arc s
groat many small lakes varying from
half a mllo to ono mllo In diameter.
Ono of theso In Wright county, and
another In Sac county, have oach re
ceived tho name of "Walled lake," on
nccount of embankments that com
pletely surround thom. It has been
generally supposed that those em
bankments were thrown up by anclont
Inhabitants of tho country. They are
from two to ten foot high, nnd from
five to thirty feet In width. Somo who
hnve oxamlnod those, howover, de
clare thom to bo tho result of natural
causes only, and ascrlbo them to the
periodic action of Ice, aided to some
extent by tho forco of tho waves.
Tho lakes aro very shallow, nnd In
winter thoy often frcozo to tho very
bottom. Tho Ice freezes fast to thq
earth bolow, and as In its expansion
it acts In all directions, from center
to circumference, a certain part of al
luvial deposit Is forced to tho shore,
and this going on from year to year,
and from century to century, has cre
ated the natural embankment.
30,000 8eals Captured by One Boat,
London. Elovon stenmshlps of tho
Newfoundland sealing fleet havo had
fair catches, tho Bonaventura, tho first
to return to St John's, bringing back
30,000 seals.
MENTAL ACCURACY
Greatly Improved by Leaving Off Coffee
The manager ot an extensive cream
cry in Wis. states that while a regu
lar coffee drinker, ho found It injuri
ous to hlo health and a hindrance to
tho performanco of his business du
ties. "It Impaired my digestion, gavo me
a distressing senso of fullness In tho
region of tho stomach, causing a most
painful nnd disquieting palpitation of
tho hoart, and what Is worse, it mud
dled my mental faculties bo as to seri
ously injure my business efficiency.
"I finally concluded that somothlng
would havo to be done. I quit tho use
of coffeo, short off, and began to drink
Poatum. Tho cook didn't mako it
right at first. Sho didn't boll ltlonff
enough, and I did not find It palatable
and quit using It and went back to cof
feo and to tho stomach trouble again.
"Then my wlfo took tho matter In
hand, nnd by following the directions
on tho box, faithfully, she bad me
drinking Postum for several days be
for I knew It
"When I happened to remark that
I was feeling much better than I had
for a long tlmo, sho told me that I
had been drinking Postum, and that
accounted for It. Now we havo no
coffeo on our tablo.
"My digestion has beon restored,
and with this improvement has come
relief from tho oppressive sense ot
fullness and palpitation of the heart
that used to bother me so. I note such
a gain in mental strength and acute
ness that I can attend to my office
work with ease and pleasure and with
out making the mistakes that were m
annoying to me while I was using -coffee.
"Postum is the greatest table drink
ot the times, In my humble estima
tion." Name given by Postum O.,
Battle Creek, Mich.
Read tho little book, "The Road t
WellvlUe," in pkgs. "There's a reason."
Ever read the above Itttcrt A jsetv
Tmmr
ono appears tram UsM e te
re sraat Um; mm Ml !
tBtrt.
T
4
t
M
3
. AhM