The
stock of 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 commenced a
shrewd game. They sold Harlem right and left, to be delivered at a
future day, and found plenty of purchasers. They let their friends into
the secret, and there was soon a great deal of "selling 'short'" in this
stock.[A] Commodore Vanderbilt, although indignant at the treachery of
which he was to be made the victim, held his peace. He went into the
market quietly, with all the funds he could raise, purchased every
dollar's worth of Harlem stock he could lay his hands on, and locked it
up in his safe. When the bill came before the Legislature on its final
passage, the members who had pledged themselves to vote for it voted
against it, and it was rejected.
[Footnote A: For the benefit of the uninitiated reader, we will explain
the "game" more clearly. Harlem stock was selling at a high price, in
consequence of the expected consolidation. Those who sold "short" at
this time sold at the market price, which, as we have said, was high.
Pages:
268
269
270
271
272
273
274
275
276
277
278
279
280
281
282
283
284
285
286
287
288
289
290
291
292