Prescott said it was a wonderful thing--that
some of the keenest men in the Street were in it, and, although it was a
curb stock, strongly advised his new friend to buy all he could of it.
He assured John that, although he was admittedly interested in booming
the stock, he was confident that before long it would sell at four times
its present quotation.
Meantime the stock, which had been listed at 2-1/4, began to go rapidly
up. Word went around the trust company that it was a great purchase
anywhere below 10, and John, as well as the other boys employed in the
company, got together what money he could and began to buy it. It
continued to go up--they had unconsciously assisted it in its
ascent--and they bought more. John purchased seventy-five shares--all
the way up to 8 and 9. One of his friends took eight hundred. Then it
dropped out of sight. They hadn't time to get out, and John, in prison,
has his yet. But he still had faith in Prescott, for he liked him and
believed in his business capacity.
The stock "operation" over, Prescott began to prospect for something
new, and suggested to John that they form a brokerage house under the
latter's name.
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