William determined to follow suit. Up jumped the stock to 137. It was a clear twenty-six per cent. in pocket.
When the operation was concluded, the Commodore rode round to the son’s office.
“Well, William, how much did you lose?”
“I went in at 110 on 10,000 shares. That ought to make me two hundred and sixty thousand dollars—”
“Very bad luck, William,” quoth the father, trying to look extremely troubled,—“very bad luck, this time.”
“But then I bought, and so made.”
“Hey? What sent you doing that, sir?”
“O, I heard that was your line, and so concluded that you meant long instead of short.”
“Ahem!” croaked Vanderbilt père, as he buttoned up his fur overcoat, and stalked out of the open door. He has always had a high opinion of William since that event!
Some years ago Vanderbilt wanted to consolidate the Hudson River and Harlem Railroads, and when the scheme was presented before the Legislature of New York, secured a sufficient number of votes in that body to insure the passage of the bill authorizing the consolidation. Before the bill was called upon its final passage, however, he learned from a trustworthy source that the members of the Legislature who had promised to vote for the bill, were determined to vote against it, with the hope of ruining him. The stock of the Harlem road was then selling very high, in consequence of the expected consolidation. The defeat of the bill would, of course, cause it to fall immediately. The unprincipled legislators at once began a shrewd game. They sold Harlem right and left, to be delivered at a future day, and found plenty of purchasers, every one but those in the plot expecting the consolidation of the roads and a consequent advance in the value of the stock. They let their friends into the secret, and there was soon a great deal of “selling short” in this stock. Commodore Vanderbilt managed to acquaint himself with the whole plot; but he held his peace, and resolved upon revenge. He went into the market quietly, with all the funds he could raise, and bought every certificate of Harlem stock that he could find. These certificates he locked up in his safe. When the bill came before the Legislature on its final passage, it was defeated.