Rockhaven

Paperback | August 24, 2012

byCharles Clark Munn

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Excerpt: ...had at one time or another come in sharp conflict with the latter in some stock deal. He had watched the bubble, Rockhaven, ever since its inception, and accustomed as he was to the endless variety of tricks resorted to by others of his class, had an intuitive conception of how the general partnership of Weston & Hill and Simmons would be carried to its culmination. "It's a swindle, pure and simple," he said in confidence to Nickerson, "and while Weston is willing to dupe the confiding investors he has persuaded to buy the stock, the real end and aim of his scheme is to get the street short of it and, by some sort of scare, start the bears to bidding against each other, and when the right time comes Simmons will appear on the scene and unload Rockhaven at top price. How soon that time will come and how far up they will push the stock before the shorts take fright, is a guess. It is now steady at six and not much interest in it. Then again it's an open question how much stock is owned on the street and how great a short interest has been created. No one has any confidence in it, and yet many are ready to take a flyer in it for a turn. My idea is to handle it as one would a hot horseshoe. I am long a thousand or two, you are ditto for five hundred, and we hold fifteen hundred in trust for your friend Hardy and this islander, Hutton. Whether to unload now and make four points or hold for a big stake, is the question. It's a gamble either way." And this, be it said, fairly represented the situation. But Simmons, who really held the key to this well-set trap, knew very well that he had the street all guessing, and more than that, was just the man to keep them at it. He sold and he bought a little stock each day, just to keep it active and quoted. He could have bought every share on the street if necessary, but that was not his game. What he did want was to aid the bull pool that had been formed, for every share they bought meant one more short of...

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Excerpt: ...had at one time or another come in sharp conflict with the latter in some stock deal. He had watched the bubble, Rockhaven, ever since its inception, and accustomed as he was to the endless variety of tricks resorted to by others of his class, had an intuitive conception of how the general partnership of Weston & Hill and S...

Format:PaperbackDimensions:76 pages, 9.69 × 7.44 × 0.16 inPublished:August 24, 2012Publisher:General Books LLCLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0217792162

ISBN - 13:9780217792165

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