The broker’s office was still busy, the last trades of Thursday being sorted in the main office as the clerks tried to ignore the raised voices from the partners’ meeting.
“The market’s up. We’re losing hundreds of thousands of dollars here,” Gus snapped, and George slammed the ledger shut.
“And we’re still ahead of where we would have been.” The broker owner deflated slightly.
“Yeah, and now we should be using that.”
“No.” George shook his head. “Have you any idea how many sell orders I got on Saturday?”
“The last of the panic.” Gus brushed him off.
“Have you seen the papers?” George demanded. “Friday and Saturday the only thing they talked about was the crash, and the bankers saving the market like they did in 1907. Monday, the news will be across the country. Hell, it will be world-wide.” He thumped the desk for emphasis. “I bet you every small investor in the US is going to be pulling out.”
“The bankers intervened.”
“Who cares? It shouldn’t have happened at all. People have been told for years that shares are absolutely safe, and suddenly they’re not. How do you think they’re going to take that?” Gus looked shaken for the first time.
“And it’s not helped when you go out and sell a load more shares!”
“You think Jesse Livermore’s buying right now?” George snapped. “I was on the floor Friday and Saturday. Those rescue shares bought Thursday were sold off Friday and Saturday. Doesn’t sound like the banks expect long-term stability does it?”
“They’ll need the cash in case…” Gus stalled as George simply looked at him. There was no need for more words. The ‘in case’ said it all.
~ End Entry ~
