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Reminiscences of a Stock Operator<br />
"Mr. Cammack, I have a very good friend who is a transfer clerk in the St. Paul office<br />
and he has just told me something which I think you ought to know."<br />
"What is it?" asked Cammack listlessly.<br />
"You've turned, haven't you? You are bearish now?" asked Joseph, to make sure. If<br />
Cammack wasn't interested he wasn't going to waste precious ammunition.<br />
"Yes. What's the wonderful information?"<br />
"I went around to the St. Paul office to-day, as I do in my news-gathering rounds two or<br />
three times a week, and my friend there said to me: 'The Old Man is selling stock.' He<br />
meant William Rockefeller. 'Is he really, Jimmy?' I said to him, and he answered, 'Yes;<br />
he is selling fifteen hundred shares every three-eighths of a point up. I've been<br />
transferring the stock for two or three days now.' I didn't lose any time, but came right<br />
over to tell you."<br />
Cammack was not easily excited, and, moreover, was so accustomed to having all<br />
manner of people rush madly into his office with all manner of news, gossip, rumors,<br />
tips and lies that he had grown distrustful of them all. He merely said now, "Are you<br />
sure you heard right, Joseph?"<br />
"Am I sure? Certainly I am sure! Do you think" I am deaf?" said Joseph.<br />
"Are you sure of your man?"<br />
"Absolutely!" declared Joseph. "I've known him for years. He has never lied to me. He<br />
wouldn't! No object! I know he is absolutely reliable and I'd stake my life on what he<br />
tells me. I know him as well as I know anybody in this world a great deal better than you<br />
seem to know me, after all these years."<br />
"Sure of him, eh?" And Cammack again looked at Joseph. Then he said, "Well, you<br />
ought to know." He called his broker, W. B. Wheeler. Joseph expected to hear him give<br />
an order to sell at least fifty thousand shares of St. Paul. William Rockefeller was<br />
disposing of his holdings in St. Paul, taking advantage of the strength of the market.<br />
Whether it was investment stock or speculative holdings was irrelevant. The one<br />
important fact was that the best stock trader of the Standard Oil crowd was getting out of<br />
St. Paul. What would the average man have done if he had received the news from a<br />
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