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On the same day that the delivery of the hundred thousand bushels was made to Truslow, Hornung met his broker at his lunch club.

“Well,” said the latter, “I see you let go that line of stuff to Truslow. ”

Hornung nodde
d; but the broker added:

“Remember, I was against it from the very beginning. I know we’ve cleared up over a hundred thou’. I would have fifty times preferred to have lost twice that andsmashed Truslow dead. Bet you what you like he makes us pay for it somehow. ”

“Huh!” grunted his principal. “How about insurance, and warehouse charges, and carrying expenses on that lot? Guess we’d have had to pay those, too, if we’d held on. ”

But the other put up his chin, unwilling to be persuaded. “I won’t sleep easy,” he declared, “till Truslow is busted. ”

III. THE PIT

Just as Going mounted the steps on the edge of the pit the great gong struck, a roar of a hundred voices developed with the swiftness of successive explosions, the rush of a hundred men surging downward to the centre of the pit filled the air with the stamp and grind of feet, a hundred hands in eager strenuous gestures tossed upward from out the brown of the crowd, the official reporter in his cage on the margin of the pit leaned far forward with straining ear to catch the opening bid, and another day of battle was begun.

Since the sale of the hundred thousand bushels of wheat to Truslow the “Hornung crowd” had steadily shouldered the price higher until on this particular morning it stood at one dollar and a half. That was Hornung’s price. No one else had any grain to sell.

But not ten minutes after the opening, Going was surprised out of all countenance to hear shouted from the other side of the pit these words:

“Sell May at one-fifty. ”

Going was for the moment touching elbows with Kimbark on one side and with Merriam on the other, all three belonging to the “Hornung crowd. ” Their answering challenge of “Sold” was as the voice of one man. They did not pause to reflect upon the strangeness of the circumstance. (That was for afterward. ) Their response to the offer was as unconscious, as reflex action and almost as rapid, and before the pit was well aware of what had happened the transaction of one thousand bushels was down upon Going’s trading-card and fifteen hundred dollars had changed hands. But here was a marvel—the whole available supply of wheat cornered, Hornung master of the situation, invincible, unassailable; yet behold a man willing to sell, a Bear bold enough to raise his head.

“That was Kennedy, wasn’t it, who made that offer?” asked Kimbark, as Going noted down the trade—“Kennedy, that new man?”

“Yes; who do you suppose he’s selling for; who’s willing to go short at this stage of the game?”

“Maybe he ain’t short. ”

“Short! Great heavens, man; where’d he get the stuff?”

“Blamed if I know. We can account for every handful of May. Steady! Oh, there he goes again. ”

“Sell a thousand May at one-fifty,” vociferated the bear-broker, throwing out his hand, one finger raised to indicate the number of “contracts” offered. This time it was evident that he was attacking the Hornung crowd deliberately, for, ignoring the jam of traders that swept toward him, he looked across the pit to where Going and Kimbark were shouting“Sold! Sold!”and nodded his head.

A second time Going made memoranda of the trade, and either the Hornung holdings were increased by two thousand bushels of May wheat or the Hornung bank account swelled by at least three thousand dollars of some unknown short’s money.