R.”
Charlie thought a minute; much of their stock, he knew, had been pledged at about 80, and to drive the stock below this point would cause a call for further margin. And, unless Charlie was very much mistaken, the firm of Townley & Tamms had just then no more securities to pledge. He wrote on the back of Rawson’s note:
“Sell all you can down to 85.
C. T.”
The boy went back upon the floor of the Exchange. Charlie did not deem it wise to follow him; but in a few minutes a renewed roar from the Allegheny Central crowd told him that his order was being executed.
He went back to the office, where he found Mr. Tamms still sitting in his private room, much as he had left him. A certain unusual idleness, a subtile air of expectation pervaded the clerks in the office, which Charlie did not fail to note. Tamms looked up at him, as he entered, but made no remark.
“We have sold over ten thousand,” said Charlie.
“What’s the price now?” asked Tamms.
“It broke 90,” said Charlie, laconically.
“We shall know exactly in a few minutes,” added Tamms, calmly. “See, I have already got a proof of Mr. Townley’s proclamation.” And Tamms tossed the paper to Charlie, giving the word Proclamation an accent that was slightly contemptuous. “You will keep the correspondence clerk to see that they are all duly mailed to-night.”