VOObyM

Reminiscences of a Stock Operator
was very pleasant and friendly. I remember that all I got from him was encouragement.
He kept on assuring me that everything would come out O.K. One day, perhaps six
months later, he came to me with a pleased smile and gave me some credit slips.
"I told you I would puil you out of that hole," he said, "and I have." And then I
discovered that not only had he wiped out the debt entirely but I had a small credit
balance besides.
I think I could have run that up without much trouble, for the market was right, but he
said to me, "I have bought you ten thousand shares of Southern Atlantic." That was
another road controlled by his brother-in-law, Alvin Marquand, who also ruled the
market destinies of the stock.
When a man does for you what Dan Williamson did for me you can't say anything but
"Thank you" no matter what your market views may be. You may be sure you're right,
but as Pat Hearne used to say: "You can't tell till you bet!" and Dan Williamson had bet
for me with his money.
Well, Southern Atlantic went down and stayed down and I lost, I forget how much, on
my ten thousand shares before Dan sold me out. I owed him more than ever. But you
never saw a nicer or less importunate creditor in your life. Never a whimper from him.
Instead, encouraging words and admonitions not to worry about it. In the end the loss
was made up for me in the same generous but mysterious way.
He gave no details whatever. They were all numbered accounts. Dan Williamson would
just say to me, "We made up your Southern Atlantic loss with profits on this other deal,"
and he'd tell me how he had sold seventy-five hundred shares of some other stock and
made a nice thing out of it. I can truthfully say that I never knew a blessed thing about
those trades of mine until I was told that the indebtedness was wiped out.
After that happened several times I began to think, and I got to look at my case from a
different angle. Finally I tumbled. It was plain that I had been used by Dan Williamson.
It made me angry to think it, but still angrier that I had not tumbled to it quicker. As
soon as I had gone over the whole thing in my mind I went to Dan Williamson, told him
I was through with the firm, and I quit the office of Williamson & Brown. I had no
words with him or any of his partners. What good would that have done me? But I will
admit that I was sore at myself quite as much as at Williamson & Brown.
- 142 -