the pit-第32部分

按键盘上方向键 ← 或 → 可快速上下翻页，按键盘上的 Enter 键可回到本书目录页，按键盘上方向键 ↑ 可回到本页顶部！
————未阅读完？加入书签已便下次继续阅读！


were　lending　more；　securities　seemed　stable；　solid。　　In　New　York；　stocks　were　booming。　　Men　were　making　moneywere　making　it；　spending　it；　lending　it；　exchanging　it。　　Instead　of　being　congested　in　vaults；　safes；　and　cash　boxes；　tight；　hard；　congealed；　it　was　loosening；　and；　as　it　were；　liquefying；　so　that　it　spread　and　spread　and　permeated　the　entire　community。　The　People　had　money。　　They　were　willing　to　take　chances。

So　much　for　the　financial　conditions。

The　spring　had　been　backward；　cold；　bitter；　inhospitable；　and　Jadwin　began　to　suspect　that　the　wheat　crop　of　his　native　country；　that　for　so　long　had　been　generous；　and　of　excellent　quality；　was　now　to　proveit　seemed　quite　possiblescant　and　of　poor　condition。　　He　began　to　watch　the　weather；　and　to　keep　an　eye　upon　the　reports　from　the　little　county　seats　and　〃centres〃　in　the　winter　wheat　States。　　These；　in　part；　seemed　to　confirm　his　suspicions。

From　Keokuk；　in　Iowa；　came　the　news　that　winter　wheat　was　suffering　from　want　of　moisture。　　Benedict；　Yates'　Centre；　and　Douglass；　in　southeastern　Kansas；　sent　in　reports　of　dry；　windy　weather　that　was　killing　the　young　grain　in　every　direction；　and　the　same　conditions　seemed　to　prevail　in　the　central　counties。　　In　Illinois；　from　Quincy　and　Waterloo　in　the　west；　and　from　Ridgway　in　the　south；　reports　came　steadily　to　hand　of　freezing　weather　and　bitter　winds。　　All　through　the　lower　portions　of　the　State　the　snowfall　during　the　winter　had　not　been　heavy　enough　to　protect　the　seeded　grain。　　But　the　Ohio　crop；　it　would　appear；　was　promising　enough；　as　was　also　that　of　Missouri。　　In　Indiana；　however；　Jadwin　could　guess　that　the　hopes　of　even　a　moderate　yield　were　fated　to　be　disappointed；　persistent　cold　weather；　winter　continuing　almost　up　to　the　first　of　April；　seemed　to　have　definitely　settled　the　question。

But　more　especially　Jadwin　watched　Nebraska；　that　State　which　is　one　single　vast　wheat　field。　　How　would　Nebraska　do；　Nebraska　which　alone　might　feed　an　entire　nation？　　County　seat　after　county　seat　began　to　send　in　its　reports。　　All　over　the　State　the　grip　of　winter　held　firm　even　yet。　　The　wheat　had　been　battered　by　incessant　gales；　had　been　nipped　and　harried　by　frost；　everywhere　the　young　half…grown　grain　seemed　to　be　perishing。　　It　was　a　massacre；　a　veritable　slaughter。

But；　for　all　this；　nothing　could　be　decided　as　yet。　Other　winter　wheat　States；　from　which　returns　were　as　yet　only　partial；　might　easily　compensate　for　the　failures　elsewhere；　and　besides　all　that；　the　Bears　of　the　Board　of　Trade　might　keep　the　price　inert　even　in　face　of　the　news　of　short　yields。　　As　a　matter　of　fact；　the　more　important　and　stronger　Bear　traders　were　already　piping　their　usual　strain。　　Prices　were　bound　to　decline；　the　three　years；　sagging　was　not　over　yet。　They；　the　Bears；　were　too　strong；　no　Bull　news　could　frighten　them。　　Somehow　there　was　bound　to　be　plenty　of　wheat。　　In　face　of　the　rumours　of　a　short　crop　they　kept　the　price　inert；　weak。

On　the　tenth　of　April　came　the　Government　report　on　the　condition　of　winter　wheat。　　It　announced　an　average　far　below　any　known　for　ten　years　past。　　On　March　tenth　the　same　bulletin　had　shown　a　moderate　supply　in　farmers'　hands；　less　than　one　hundred　million　bushels　in　fact；　and　a　visible　supply　of　less　than　forty　millions。

The　Bear　leaders　promptly　set　to　work　to　discount　this　news。　　They　showed　how　certain　foreign　conditions　would　more　than　offset　the　effect　of　a　poor　American　harvest。　They　pointed　out　the　fact　that　the　Government　report　on　condition　was　brought　up　only　to　the　first　of　April；　and　that　since　that　time　the　weather　in　the　wheat　belt　had　been　favorable　beyond　the　wildest　hopes。

The　April　report　was　made　public　on　the　afternoon　of　the　tenth　of　the　month。　　That　same　evening　Jadwin　invited　Gretry　and　his　wife　to　dine　at　the　new　house　on　North　Avenue；　and　after　dinner；　leaving　Mrs。　Gretry　and　Laura　in　the　drawing…room；　he　brought　the　broker　up　to　the　billiard…room　for　a　game　of　pool。

But　when　Gretry　had　put　the　balls　in　the　triangle；　the　two　men　did　not　begin　to　play　at　once。　　Jadwin　had　asked　the　question　that　had　been　uppermost　in　the　minds　of　each　during　dinner。

〃Well；　Sam；〃　he　had　said；　by　way　of　a　beginning；　〃what　do　you　think　of　this　Government　report？〃

The　broker　chalked　his　cue　placidly。

〃I　expect　there'll　be　a　bit　of　reaction　on　the　strength　of　it；　but　the　market　will　go　off　again。　　I　said　wheat　would　go　to　sixty；　and　I　still　say　it。　　It's　a　long　time　between　now　and　May。〃

〃I　wasn't　thinking　of　crop　conditions　only；〃　observed　Jadwin。　　〃Sam；　we're　going　to　have　better　times　and　higher　prices　this　summer。〃

Gretry　shook　his　head　and　entered　into　a　long　argument　to　show　that　Jadwin　was　wrong。

But　Jadwin　refused　to　be　convinced。　　All　at　once　he　laid　the　flat　of　his　hand　upon　the　table。

〃Sam；　we've　touched　bottom；〃　he　declared；　〃touched　bottom　all　along　the　line。　　It's　a　paper　dime　to　the　Sub…Treasury。〃

〃I　don't　care　about　the　rest　of　the　line；〃　said　the　broker　doggedly；　sitting　on　the　edge　of　the　table；　〃wheat　will　go　to　sixty。〃　　He　indicated　the　nest　of　balls　with　a　movement　of　his　chin。　　〃Will　you　break？〃

Jadwin　broke　and　scored；　leaving　one　ball　three　inches　in　front　of　a　corner　pocket。　　He　called　the　shot；　and　as　he　drew　back　his　cue　he　said；　deliberately：

〃Just　as　sure　as　I　make　this　pocket　wheat　willnot　go　offanother_cent。_〃

With　the　last　word　he　drove　the　ball　home　and　straightened　up。　　Gretry　laid　down　his　cue　and　looked　at　him　quickly。　　But　he　did　not　speak。　　Jadwin　sat　down　on　one　of　the　straight…backed　chairs　upon　the　raised　platform　against　the　wall　and　rested　his　elbows　upon　his　knees。

〃Sam；〃　he　said；　〃the　time　is　come　for　a　great　big　change。〃　　He　emphasised　the　word　with　a　tap　of　his　cue　upon　the　floor。　　〃We　can't　play　our　game　the　way　we've　been　playing　it　the　last　three　years。　　We've　been　hammering　wheat　down　and　down　and　down；　till　we've　got　it　below　the　cost　of　production；　and　now　she　won't　go　any　further　with　all　the　hammering　in　the　world。　　The　other　fellows；　the　rest　of　this　Bear　crowd；　don't　seem　to　see　it；　but　I　see　it。　　Before　fall　we're　going　to　have　higher　prices。　　Wheat　is　going　up；　and　when　it　does　I　mean　to　be　right　there。〃

〃We're　going　to　have　a　dull　market　right　up　to　the　beginning　of　winter；〃　persisted　the　other。

〃Come　and　say　that　to　me　at　the　beginning　of　winter；　then；〃　Jadwin　retorted。　　〃Look　here；　Sam；　I'm　short　of　May　five　hundred　thousand　bushels；　and　to…morrow　morning　you　are　going　to　send　your　boys　on　the　floor　for　me　and　close　that　trade。〃

〃You're　crazy；　J。；〃　protested　the　broker。　　〃Hold　on　another　month；　and　I　promise　you；　you'll　thank　me。〃

〃Not　another　day；　not　another　hour。　　This　Bear　campaign　of　ours　has　come　to　an　end。　　That's　said　and　signed。〃

〃Why；　it's　just　in　its　prime；〃　protested　the　broker。　〃Great　heavens；　you　mustn't　get　out　of　the　game　now；　after　hanging　on　for　three　years。〃

〃I'm　not　going　to　get　out　of　it。〃

〃Why；　good　Lord！〃　said　Gretry；　〃you　don't　mean　to　say　that〃

〃That　I'm　going　over。　　That's　exactly　what　I　do　mean。　I'm　going　to　change　over　so　quick　to　the　other　side　that　I'll　be　there　before　you　can　take　off　your　hat。　I'm　done　with　a　Bear　game。　　It　was　good　while　it　lasted；　but　we've　worked　it　for　all　there　was　in　it。　I'm　not　only　going　to　cover　my　May　shorts　and　get　out　of　that　trade；　but〃Jadwin　leaned　forward　and　struck　his　hand　upon　his　knee〃but　I'm　going　to　_buy。_　I'm　going　to　buy　September　wheat；　and　I'm　going　to　buy　it　to…morrow；　five　hundred　thousand　bushels　of　it；　and　if　the　market　goes　as　I　think　it　will　later　on；　I'm　going　to　buy　more。　　I'm　no　Bear　any　longer。　　I'm　going　to　boost　this　market　right　through　till　the　last　bell　rings；　and　from　now　on　Curtis　Jadwin　spells　B…u…　double　lBull。〃

〃They'll　slaughter　you；〃　said　Gretry；　〃slaughter　you　in　cold　blood。　　You're　just　one　man　against　a　ganga　gang　of　cutthroats。　　Those　Bears　have　got　millions　and　millions　back　of　them。　　You　don't　suppose；　do　you；　that　old　man　Crookes；　or　Kenniston；　or　little　Sweeny；　or　all　that　lot　would　give　you　one　little　bit　of　a　chance　for　your　life　if　they　got　a　grip　on　you。　　Cover　your　shorts　if　you　want　to；　but；　for　God's　sake；　don't　begin　to　buy　in　the　same　breath。　　You　wait　a　while。　　If　this　market　has　touched　bottom；　we'll　be　able　to　tell　in　a　few　days。　　I'll　admit；　for　the　sake　of　argument；　that　just　now　there's　a　pause。　　But　nobody　can　tell　whether　it　will　turn　up　or　down　yet。　　Now's　the　time　to　be　conservative；　to　play　it　cautious。〃

〃If　I　was　conservative　and　cautious；〃　answered　Jadwin；　〃I　wouldn't　be　in　this　game　at　all。　　I'd　be　buying　U。S。　four　percents。　　That's　the　big　mistake　so　many　of　these　fellows　down　here　make。　　They　go　into　a　game　where　the　only　ones　who　can　possibly　win　are　the　ones　who　take　big　chances；　and　then　they　try　to　play　the　thing　cautiously。　　If　I　wait　a　while　till　the　market　turns　up　and　everybody　is　buying；　how　am　I　any　the　better　off？　No；　sir；　you　buy　the　September　option　for　me　to…morrow　five　hundred　thousand　bushels。　　I　deposited　the　margin　to　your　credit　in　the　Illinois　Trust　this　afternoon。〃

There　was　a　long　silence。　　Gretry　spun　a　ball　between　his　fingers；　top…fashion。

〃Well；〃　he　said　at　last；　hesitatingly；　〃wellI　don't　know；　J。you　are　either　Napoleonicoror　a　colossal　idiot。〃

〃Neither　one　nor　the　other；　Samuel。　　I'm　just　using　a　little　common　sense。。。。　　Is　it　your　shot？；〃

〃I'm　blessed　if　I　know。〃

〃Well；　we'll　start　a　new　game。　　Sam；　I'll　give　you　six　balls　and　beat　you　in〃he　looked　at　his　watch〃beat　you　before　half…past　nine。〃

〃For　a　dollar？〃

〃I　never　bet；　Sam；　and　you　know　it。〃

Half　an　hour　later　Jadwin　said：

〃Shall　we　go　down　and　join　the　ladies？　　Don't　put　out　your　cigar。　　That's　one　bargain　I　made　with　Laura　before　we　moved　in　herethat　smoking　was　allowable　everywhere。〃

〃Room　enough；　I　guess；〃　observed　the　broker；　as　the　two　stepped　into　the　elevator。　　〃How　many　rooms　have　you　got　here；　by　the　way？〃

〃Upon　my　word；　I　don't　know；〃　answered　Jadwin。　　〃I　discovered　a　new　one　yesterday。　　Fact。　　I　was　having　a　look　around；　and　I　came　out　into　a　little　kind　of　smoking…room　or　other　that；　I　swear；　I'd　never　seen　before。　　I　had　to　get　Laura　to　tell　me　about　it。〃

The　elevator　sank　to　the　lower　floor；　and　Jadwin　and