"Good heavens, Monty," cried the broker, "you're joking. Lumber is away up now. It can't possibly go a fraction of a point higher. Take my advice and don't touch it. It opened to-day at 111 3/4 and closed at 109. Why, man, you're crazy to think about it for an instant."
"I know my business, Gardner," said Brewster, quietly, and his conscience smote him when he saw the flush of mortification creep into the face of his friend. The rebuke had cut Gardner to the quick.
"But, Monty, I know what I'm talking about. At least let me tell you something about this stock," pleaded Elon, loyally, despite the wound.
"Gardy, I've gone into this thing carefully, and if ever a man felt sure about anything I do about this," said Monty, decidedly, but affectionately.
"Take my word for it Lumber can't go any higher. Think of the situation; the lumber men in the north and west are overstocked, and there is a strike ready to go into effect. When that comes the stock will go for a song. The slump is liable to begin any day."
"My mind is made up," said the other firmly, and Gardner was in despair. "Will you or will you not execute an order for me at the opening to-morrow? I'll start with ten thousand shares. What will it cost me to margin it for ten points?"
"At least a hundred thousand, exclusive of commission, which would be twelve and a half a hundred shares." Despite the most strenuous opposition from Gardner, Brewster adhered to his design, and the broker executed the order the next morning. He knew that Brewster had but one chance to win, and that was to buy the stock in a lump instead of distributing it among several brokers and throughout the session. This was a point that Monty had overlooked.
There had been little to excite the Stock Exchange for some weeks: nothing was active and the slightest flurry was hailed as an event. Every one knew that the calm would be disturbed at some near day, but nobody looked for a sensation in Lumber and Fuel. It was a foregone conclusion that a slump was coming, and there was scarcely any trading in the stock. When Elon Gardner, acting for Montgomery Brewster; took ten thousand shares at 108 3/4 there was a mighty gasp on the Exchange, then a rubbing of eyes, then commotion. Astonishment was followed by nervousness, and then came the struggle.
Brewster, confident that the stock could go no higher, and that sooner or later it must drop, calmly ordered his horse for a ride in the snow-covered park. Even though he knew the venture was to be a failure in the ordinary sense he found joy in the knowledge that he was doing something. He might be a fool, he was at least no longer inactive. The feel of the air was good to him. He was exhilarated by the glitter of the snow, the answering excitement of his horse, the gaiety and sparkle of life about him.
Somewhere far back in his inner self there seemed to be the sound of cheering and the clapping of hands. Shortly before noon he reached his club, where he was to lunch with Colonel Drew. In the reading-room he observed that men were looking at him in a manner less casual than was customary. Some of them went so far as to smile encouragingly, and others waved their hands in the most cordial fashion. Three or four very young members looked upon him with admiration and envy, and even the porters seemed more obsequious. There was something strangely oppressive in all this show of deference.