“I guess that description fits it, all right,” agreed his friend, “but of course I thought that Tabbs was different from an ordinary market tipster. I had seen him holding down a big job with Morgan & Company, and I naturally thought he had inside information.”
Joe had to admit that this was reasonable.
“He put me under a pledge of secrecy,” went on Reggie, “and then he opened up. Said that Morgan & Company had a big scheme for combining under one control all the electric light and power companies of the State. Claimed that he already had an agreement with the majority of them to come into the deal. The thing was to be kept under cover until everything was ripe, and then the stock would double and treble in value, and the lucky holders would make a fortune. Now was the time to buy before the big news came out.”
“Old stuff,” thought Joe to himself, although he did not give utterance to the thought for fear of wounding Reggie, who was sore enough already.
“Of course,” went on Reggie, “the first thing I thought of was the ten thousand in stocks that the governor had put in my hands to show what I could do. Here was the chance to make it twenty or thirty thousand or more, if Tabbs was right. And honest, Joe, that fellow could have convinced anybody. He was the most persuasive talker I ever met. Had facts and figures at his tongue’s end and reeled them off by the thousand. Showed me a chart of his own on which he had marked all the market fluctuations on leading stocks for ten years back. Had an answer for every objection. He was a perfect encyclopedia on everything that concerned stocks and bonds. If ever any man knew his business, it was Talham Tabbs.”
And Joe, recalling the keen face of the madman, could very well understand how Reggie would be putty in his hands.
“The upshot of it all was,” blurted out the dudish young man desperately, “that I put the whole ten thousand in his hands to turn into cash and invest for me in the securities of the different light and power companies. He was to do this quietly and secretly as he went from one place to another, and then when he had invested it all he was to turn them over to me to hold them for the rise that would come as soon as the deal was concluded.
“I didn’t do this right off the reel. I felt skittish about putting all my eggs in one basket. I wanted to put in part of the money only, but he laughed at me. Opportunity only came once to a man, he said, especially such an opportunity as that. I was dazzled by his figures, and when I thought of the pleasure it would be to prove to my father that I had more brains than he gave me credit for and knew how to double and treble my money in a few months, I gave in and went into the thing, hook, line and sinker.”