LITMIR.BIZ

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in rectifying your blunders. It's a very pretty division of labour, is that."

      "The business is yours as well as mine. It is your interest to invest the money in it, for if it fails you are as completely ruined as I should be. You think you could win her if you tried?"

      Ezra stroked his dark moustache complacently, and took a momentary glance at his own bold handsome features in the mirror above the fire-place. "If we are reduced to such an expedient, I think I can answer for the result," he said. "The girl's not a bad-looking one. But you said you had several plans. Let us hear some of the other ones. If the worst comes to the worst I might consent to that – on condition, of course, that I should have the whole management of the money."

      "Quite so – quite so," his father said hurriedly. "That's a dear, good lad. As you say, when all other things fail we can always fall back upon that. At present I intend to raise as much money as I can upon our credit, and invest it in such a manner as to bring in a large and immediate profit."

      "And how do you intend to do this?" his son asked doubtfully.

      "I intend," said John Girdlestone, solemnly rising up and leaning his elbow against the mantelpiece – "I intend to make a corner in diamonds."

      CHAPTER XII.

      A CORNER IN DIAMONDS

      John Girdlestone propounded his intention with such dignity and emphasis that he evidently expected the announcement to come as a surprise upon his son. If so, he was not disappointed, for the young man stared open-eyed.

      "A corner in diamonds!" he repeated. "How will you do that?"

      "You know what a corner is," his father explained. "If you buy up all the cotton, say, or sugar in the market, so as to have the whole of it in your own hands, and to be able to put your own price on it in selling it again – that is called making a corner in sugar or cotton. I intend to make a corner in diamonds."

      "Of course, I know what a corner is," Ezra said impatiently. "But how on earth are you going to buy all the diamonds in? You would want the capital of a Rothschild?"

      "Not so much as you think, my boy, for there are not any great amount of diamonds in the market at any one time. The yield of the South African fields regulates the price. I have had this idea in my head for some time, and have studied the details. Of course, I should not attempt to buy in all the diamonds that are in the market. A small portion of them would yield profit enough to float the firm off again."

      "But if you have only a part of the supply in your hands, how are you to regulate the market value? You must come down to the prices at which other holders are selling."

      "Ha! Ha! Very good! very good!" the old merchant said, shaking his head good-humouredly. "But you don't quite see my plan yet. You have not altogether grasped it. Allow me to explain it to you."

      His son lay back upon the sofa with a look of resignation upon his face. Girdlestone continued to stand upon the hearth-rug and spoke very slowly and deliberately, as though giving vent to thoughts which had been long and carefully considered.

      "You see, Ezra," he said, "diamonds, being a commodity of great value, of which there is never very much in the market at one time, are extremely sensitive to all sorts of influences. The value of them varies greatly from time to time. A very little thing serves to depreciate their price, and an equally small thing will send it up again."

      Ezra Girdlestone grunted to show that he followed his father's remarks.

      "I did some business in diamonds myself when I was a younger man, and so I had an opportunity of observing their fluctuations in the market. Now, there is one thing which invariably depreciates the price of diamonds. That is the rumour of fresh discoveries of mines in other parts of the world. The instant such a thing gets wind the value of the stones goes down wonderfully. The discovery of diamonds in Central India not long ago had that effect very markedly, and they have never recovered their value since. Do you follow me?"

      An expression of interest had come over Ezra's face, and he nodded to show that he was listening.

      "Now, supposing," continued the senior partner, with a smile on his thin lips, "that such a report got about. Suppose, too, that we were at this time, when the market was in a depressed condition, to invest a considerable capital in them. If these rumours of an alleged discovery turned out to be entirely unfounded, of course the value of the stones which we held would go up once more, and we might very well sell out for double or treble the sum that we invested. Don't you see the sequence of events?"

      "There seems to me to be rather too much of the 'suppose' in it," remarked Ezra. "How do we know that such rumours will get about; and if they do, how do we know that they will prove to be unfounded?"

      "How are we to know?" the merchant cried, wriggling his long lank body with amusement. "Why, my lad, if we spread the rumours ourselves we shall have pretty good reason to believe that they are unfounded. Eh, Ezra? Ha! ha! You see there are some brains in the old man yet."

      Ezra looked at his father in considerable surprise and some admiration. "Why, damn it!" he exclaimed, "it's dishonest. I'm not sure that it's not actionable."

      "Dishonest! Pooh!" The merchant snapped his fingers. "It's finesse, my boy, commercial finesse. Who's to trace it, I should like to know. I haven't worked out all the details – I want your co-operation over that – but here's a rough sketch of my plan. We send a man we can depend upon to some distant part of the world – Chimborazo, for example, or the Ural Mountains. It doesn't matter where, as long as it is out of the way. On arriving at this place our agent starts a report that he has discovered a diamond mine. We should even go the length, if he considers it necessary, of hiding a few rough stones in the earth, which he can dig up to give colour to his story. Of course the local press would be full of this. He might present one of the diamonds to the editor of the nearest paper. In course of time a pretty coloured description of the new diamond fields would find its way to London and thence to the Cape. I'll answer for it that the immediate effect is a great drop in the price of stones. We should have a second agent at the Cape diamond fields, and he would lay our money out by buying in all that he could while the panic lasted. Then, the original scare having proved to be all a mistake, the prices naturally go up once more, and we get a long figure for all that we hold. That's what I mean by making 'a corner in diamonds.' There is no room in it for any miscalculation. It is as certain as a proposition of Euclid, and as easily worked out."

      "It sounds very nice," his son remarked thoughtfully. "I'm not so sure about its working, though."

      "It must work well. As far as human calculation can go there is no possibility of failure. Besides, my boy, never lose sight of the fact that we shall be speculating with other people's money. We ourselves have nothing to lose, absolutely nothing."

      "I am not likely to lose sight of it," said Ezra angrily, his mind coming back to his grievance.

      "I reckon that we can raise from forty to fifty thousand pounds without much difficulty. My name is, as you know, as good as that of any firm in the City. For nearly forty years it has been above stain or suspicion. If we carry on our plans at once, and lay this money out judiciously, all may come right."

      "It's Hobson's choice," the young man remarked. "We must try some bold

      stroke of the sort. Have you chosen the right sort of men for agents?

      You should have men of some standing to set such reports going.

      They would have more weight then."

      John Girdlestone shook his head despondingly. "How am I to get a man of any standing to do such a piece of business?" he said.

      "Nothing easier," answered Ezra, with a cynical laugh. "I could pick out a score of impecunious fellows from the clubs who would be only too glad to earn a hundred or two in any way you can mention. All their talk about honour and so forth is very pretty and edifying, but it's not meant for every day use. Of course we should have to pay him."

      "Them, you mean?"

      "No, we should only want one man."

      "How about our purchaser at the diamond fields?"

      "You don't mean to say," Ezra said

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