BUBBLES 201 



with the idea and it was arranged that I protect 

 him from loss, or a corner, by giving a call on sub- 

 stantially all the capital stock, and that I deposit 

 the stock in the United States Trust Company to 

 the joint order of his broker, James D. Smith, 

 and myself. The profits were to be divided into 

 three parts, one to go to Smith for giving out the 

 orders and manipulating the Stock Exchange 

 part of the deal, one to me for supplying the 

 material, and one to Stockwell for making the 

 market. I took the stock from those who held it 

 as security for loans to me, giving receipts in its 

 place and my promise to return it within a 

 month. The shares were deposited with the 

 Trust Company as arranged, subject to the joint 

 order of Smith and myself, and Stockwell was 

 told that it was his move. 



He gave the tip to a few of his friends, in the 

 most sacred confidence, that he was going in for 

 a big operation in Atlantic Mail, with the marvel- 

 ous result that the stock swept upward so wildly 

 that Smith sold more than the capital stock in a 

 few hours. I was jubilant over the amazing de- 



