"They will never dream you are with us," Guggenhammer interjected, as the outlining of the matter drew to a close, his handsome Jewish eyes flashing enthusiastically. "They'll think you are raiding on your own in proper buccaneer style.""Of course, you understand, Mr. Harnish, the absolute need for keeping our alliance in the dark," Nathaniel Letton warned gravely.
Daylight nodded his head. "And you also understand," Letton went on, "that the result can only be productive of good. The thing is legitimate and right, and the only ones who may be hurt are the stock gamblers themselves.
It is not an attempt to smash the market. As you see yourself, you are to bull the market. The honest investor will be the gainer.""Yes, that's the very thing," Dowsett said. "The commercial need for copper is continually increasing. Ward Valley Copper, and all that it stands for,--practically one-quarter of the world's supply, as I have shown you,--is a big thing, how big, even we can scarcely estimate. Our arrangements are made. We have plenty of capital ourselves, and yet we want more. Also, there is too much Ward Valley out to suit our present plans. Thus we kill both birds with one stone-""And I am the stone," Daylight broke in with a smile.
"Yes, just that. Not only will you bull Ward Valley, but you will at the same time gather Ward Valley in. This will be of inestimable advantage to us, while you and all of us will profit by it as well. And as Mr. Letton has pointed out, the thing is legitimate and square. On the eighteenth the directors meet, and, instead of the customary dividend, a double dividend will be declared.""And where will the shorts be then?" Leon Guggenhammer cried excitedly.
"The shorts will be the speculators," Nathaniel Letton explained, "the gamblers, the froth of Wall Street--you understand. The genuine investors will not be hurt. Furthermore, they will have learned for the thousandth time to have confidence in Ward Valley. And with their confidence we can carry through the large developments we have outlined to you.""There will be all sorts of rumors on the street," Dowsett warned Daylight, "but do not let them frighten you. These rumors may even originate with us. You can see how and why clearly. But rumors are to be no concern of yours. You are on the inside. All you have to do is buy, buy, buy, and keep on buying to the last stroke, when the directors declare the double dividend. Ward Valley will jump so that it won't be feasible to buy after that.""What we want," Letton took up the strain, pausing significantly to sip his mineral water, "what we want is to take large blocks of Ward Valley off the hands of the public. We could do this easily enough by depressing the market and frightening the holders. And we could do it more cheaply in such fashion. But we are absolute masters of the situation, and we are fair enough to buy Ward Valley on a rising market. Not that we are philanthropists, but that we need the investors in our big development scheme. Nor do we lose directly by the transaction. The instant the action of the directors becomes known, Ward Valley will rush heavenward. In addition, and outside the legitimate field of the transaction, we will pinch the shorts for a very large sum. But that is only incidental, you understand, and in a way, unavoidable. On the other hand, we shall not turn up our noses at that phase of it. The shorts shall be the veriest gamblers, of course, and they will get no more than they deserve.""And one other thing, Mr. Harnish," Guggenhammer said, "if you exceed your available cash, or the amount you care to invest in the venture, don't fail immediately to call on us. Remember, we are behind you.""Yes, we are behind you," Dowsett repeated.
