Fletcher thought the comparison rather ludicrous for a man standing on such remarkably short pegs, but he said nothing.
"I mean to sell a few shares of stock, and I want you to do the business. I am not to be known in it."
Fletcher bowed, and asked what the stocks were.
"No matter; any you can sell to advantage. I haven't a share, but I needn't tell you that doesn't make any difference."
"Let me understand you clearly," said Fletcher.
"Sell under. For instance, take a stock that sells to-day at ninety-four; offer to deliver it five days hence at ninety. To-morrow offer it a peg lower, and so on, till the market is easier. When the first contract is up, we shall get the stock at eighty-eight, or less, perhaps,—deliver to the buyers, and pocket the difference."
"But it may not fall."
"It's bound to fall. People that hold stock must sell to pay their notes. Every day brings a fresh lot of shares to the hammer."
"But the bulls may corner you; they will try mightily to keep prices up."
"But they can't corner, I tell you; there are too many of them in distress. Besides, we'll spread; we won't put all our eggs into one basket. If I stuck to 'bearing' one stock, the holders might get all the shares and break me by keeping them so that I couldn't comply with my contracts. I shan't do it. I'll pitch into the 'fancies' mainly; they are held by speculators, who must be short, and they'll come down with a run."