The next day a rumor to the effect that the
American Union was to absorb the Western Union appeared on the first
page of every New York newspaper. Edward knew exactly whence this
rumor emanated. He had heard it talked over. Again, Western Union
stock dropped several points. Then he noticed that Mr. Gould became a
heavy buyer. So became Edward--as heavy as he could. Jay Gould
pooh-poohed the latest rumor. The boy awaited developments.
On Sunday afternoon, Edward's Sunday-school teacher asked the boy to
walk home with him, and on reaching the house took him into the study
and asked him whether he felt justified in putting all his savings in
Western Union just at that time when the price was tumbling so fast and
the market was so unsteady. Edward assured his teacher that he was
right, although he explained that he could not disclose the basis of
his assurance.
Edward thought his teacher looked worried, and after a little there
came the revelation that he, seeing that Edward was buying to his
limit, had likewise done so.
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