A fortnight ago today was the first settlement.
I wasn't here, but Semple was--and the working of it
is all in his hands. He kept as still as a mouse that
first day. They had to deliver to us 26,000 shares,
and they hadn't got one, but we didn't make any fuss.
The point was, you see, not to let them dream that they
were caught in a trap. We didn't even put the price up
to par. They had to come to Semple, and say there didn't
seem to be any shares obtainable just at the moment,
and what would he carry them over at? That means,
to let them postpone delivery for another fortnight.
He was as smooth as sweet-oil with them, and agreed
to carry them over till today without any charge at all.
But today it was a little different. The price was up
ten shillings above par. That is to say, Semple arranged
with a jobber, on the quiet, d'ye see? to offer thirty
shillings for our one-pound shares. That offer fixed
the making-up price. So then, when they were still
without shares to-day, and had to be carried over again,
they had to pay ten shillings' difference on each of
twenty-six thousand shares, plus the difference between par
and the prices they'd sold at. That makes within a few
hundreds of 20,000 pounds in cash, for one day's haul.
D'ye see?"
She nodded at him, expressively. Through previous talks
she had really obtained an insight into the operation,
and it interested her more than she would have cared
to confess.
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