This will be of inestimable advantage to us, while you and all of us will profit by it as well.
And as Mr. Letton has pointed out, the thing is legitimate and square.
On the eighteenth the directors meet, and, instead of the customary dividend, a double dividend will be declared."
"And where will the shorts be then?" Leon Guggenhammer cried excitedly.
"The shorts will be the speculators," Nathaniel Letton explained, "the gamblers, the froth of Wall Street—you understand.
The genuine investors will not be hurt.
Furthermore, they will have learned for the thousandth time to have confidence in Ward Valley.
And with their confidence we can carry through the large developments we have outlined to you."
"There will be all sorts of rumors on the street," Dowsett warned Daylight, "but do not let them frighten you.
These rumors may even originate with us.
You can see how and why clearly.
But rumors are to be no concern of yours.
You are on the inside.
All you have to do is buy, buy, buy, and keep on buying to the last stroke, when the directors declare the double dividend.
Ward Valley will jump so that it won't be feasible to buy after that."
"What we want," Letton took up the strain, pausing significantly to sip his mineral water, "what we want is to take large blocks of Ward Valley off the hands of the public.
We could do this easily enough by depressing the market and frightening the holders.
And we could do it more cheaply in such fashion.
But we are absolute masters of the situation, and we are fair enough to buy Ward Valley on a rising market.
Not that we are philanthropists, but that we need the investors in our big development scheme.
Nor do we lose directly by the transaction.
The instant the action of the directors becomes known, Ward Valley will rush heavenward.
In addition, and outside the legitimate field of the transaction, we will pinch the shorts for a very large sum.
But that is only incidental, you understand, and in a way, unavoidable.
On the other hand, we shall not turn up our noses at that phase of it.
The shorts shall be the veriest gamblers, of course, and they will get no more than they deserve."
"And one other thing, Mr. Harnish," Guggenhammer said, "if you exceed your available cash, or the amount you care to invest in the venture, don't fail immediately to call on us.
Remember, we are behind you."
"Yes, we are behind you," Dowsett repeated.
Nathaniel Letton nodded his head in affirmation.
"Now about that double dividend on the eighteenth—" John Dowsett drew a slip of paper from his note-book and adjusted his glasses.
"Let me show you the figures.
Here, you see..."
And thereupon he entered into a long technical and historical explanation of the earnings and dividends of Ward Valley from the day of its organization.
The whole conference lasted not more than an hour, during which time Daylight lived at the topmost of the highest peak of life that he had ever scaled.
These men were big players.
They were powers.
True, as he knew himself, they were not the real inner circle.
They did not rank with the Morgans and Harrimans.
And yet they were in touch with those giants and were themselves lesser giants.
He was pleased, too, with their attitude toward him.
They met him deferentially, but not patronizingly.
It was the deference of equality, and Daylight could not escape the subtle flattery of it; for he was fully aware that in experience as well as wealth they were far and away beyond him.
"We'll shake up the speculating crowd," Leon Guggenhammer proclaimed jubilantly, as they rose to go.
"And you are the man to do it, Mr. Harnish.
They are bound to think you are on your own, and their shears are all sharpened for the trimming of newcomers like you."
"They will certainly be misled," Letton agreed, his eerie gray eyes blazing out from the voluminous folds of the huge Mueller with which he was swathing his neck to the ears.
"Their minds run in ruts.
It is the unexpected that upsets their stereotyped calculations—any new combination, any strange factor, any fresh variant.
And you will be all that to them, Mr. Harnish.