Chapter 34 Conrad Goes Into Wall Street

 When Conrad succeeded Ben as Mrs. Hamilton's private secretary, he was elated by what he considered his promotion¹. His first disappointment came when he learned that his salary was to be but five dollars a week. He did not dare to remonstrate² with his employer, but he expressed himself freely to his mother.

 

"Cousin Hamilton might afford to pay me more than five dollars a week," he said bitterly.

 

"It is small," said his mother cautiously, "but we must look to the future."

 

"If you mean till Cousin Hamilton dies, it may be twenty or thirty years. Why, she looks healthier than you, mother, and will probably live longer."

 

Mrs. Hill looked grave. She did not fancy this speech.

 

"I don't think we shall have to wait so long," she said. "When you are twenty-one Cousin Hamilton will probably do something for you."

 

"That's almost five years," grumbled³ Conrad.

 

"At any rate we have got Ben Barclay out of the house, that's one comfort."

 

"Yes, I am glad of that; but I'd rather be in my old place than this, if I am to get only five dollars a week."

 

"Young people are so impatient," sighed Mrs. Hill. "You don't seem to consider that it isn't alone taking Ben's place, but you have got rid of a dangerous rival for the inheritance."

 

"That's true," said Conrad, "and I hated Ben. I'd rather any other boy would cut me out than he."

 

"Do you know what has become of him?"

 

"No; I expect that he has gone back to the country--unless he's blacking boots or selling papers downtown somewhere. By Jove, I'd like to come across him with a blacking-brush. He used to put on such airs. I would like to have heard Cousin Hamilton give him the grand bounce."

 

Nothing could be more untrue than that Ben putting on airs, but Conrad saw him through the eyes of prejudice, and persuaded himself that such was the fact. In reality Ben was exceedingly modest and unassuming, and it was this among other things that pleased Mrs. Hamilton.

 

Conrad continued to find his salary insufficient⁴. He was still more dissatisfied after an interview with one of his school companions, a boy employed in a Wall Street broker⁵'s office.

 

He was just returning from an errand on which Mrs. Hamilton had sent him, when he overtook Fred Lathrop on his way uptown.

 

The attention of Conrad was drawn⁶ to a heavy gold ring with a handsome stone on Fred's finger.

 

"Where did you get that ring?" asked Conrad, who had himself a fancy for rings.

 

"Bought it in Maiden⁷ Lane. How do you like it?"

 

"It is splendid. Do you mind telling me how much you paid?"

 

"I paid forty-five dollars. It's worth more."

 

"Forty-five dollars!" ejaculated Conrad. "Why, you must be a millionaire. Where did you get so much money?"

 

"I didn't find it in the street," answered Fred jocularly.

 

"Can't you tell a feller? You didn't save it out of your wages, did you?"

 

"My wages? I should say not. Why, I only get six dollars a week, and have to pay car fare and lunches out of that."

 

"Then it isn't equal to my five dollars, for that is all clear. But, all the same, I can't save anything."

 

"Nor I."

 

"Then how can you afford to buy forty-five dollar rings?"

 

"I don't mind telling you," said Fred. "I made the money by speculating."

 

"Speculating!" repeated Conrad, still in the dark.

 

"Yes. I'll tell you all about it."

 

"Do! there's a good fellow."

 

"You see, I bought fifty Erie shares on a margin⁸."

 

"How's that?"

 

"Why I got a broker to buy me fifty shares on a margin of one per cent. He did it to oblige me. I hadn't any money to put up, but I had done him one or two favors, and he did it out of good nature. As the stock was on the rise, he didn't run much of a risk. Well, I bought at 44 and sold at 45 1-4. So I made fifty dollars over and above the commission. I tell you I felt good when the broker paid me over five ten-dollar bills."

 

"I should think you would."

 

"I was afraid I'd spend the money foolishly, so I went right off and bought this ring. I can sell it for what I gave any time."

 

Conrad's cupidity⁹ was greatly excited by this remarkable¹⁰ luck of Fred's.

 

"That seems an easy way of making money," he said. "Do you think I could try it?"

 

"Anybody can do it if he's got the money to plank¹¹ down for a margin."

 

"I don't think I quite understand."

 

"Then I'll tell you. You buy fifty shares of stock, costing, say, fifty dollars a share."

 

"That would be twenty-five hundred dollars."

 

"Yes, if you bought it right out. But you don't. You give the broker whatever per cent. he requires, say a dollar a share--most of them don't do it so cheap--and he buys the stock on your account. If it goes up one or two points, say to fifty-one or fifty-two, he sells out, and the profit goes to you, deducting¹² twenty-five cents a share which he charges for buying and selling. Besides that, he pays you back your margin."

 

"That's splendid. But doesn't it ever go down?"

 

"I should say so. If it goes down a dollar a share, then, of course, you lose fifty dollars."

 

Conrad looked serious. This was not quite so satisfactory.

 

"It is rather risky¹³, then," he said.

 

"Of course, there's some risk; but you know the old proverb, 'Nothing venture, nothing have.' You must choose the right stock--one that is going up."

 

"I don't know anything about stock," said Conrad.

 

"I do," said Fred. "If I had money I know what I'd buy."

 

"What?" asked Conrad eagerly.

 

"Pacific Mail."

 

"Do you think that's going up?"

 

"I feel sure of it. I overheard my boss and another broker talking about it yesterday, and they both predicted a bull movement in it."

 

"Does that mean it's going up?"

 

"To be sure."

 

"I should like to buy some."

 

"Have you got money to plank down as a margin?"

 

Conrad had in his pocketbook fifty dollars which he had collected for Mrs. Hamilton, being a month's rent on a small store on Third Avenue. It flashed upon him that with this money he could make fifty dollars for himself, and be able to pay back the original sum to Mrs. Hamilton as soon as the operation was concluded.

 

"Could you manage it for me, Fred?" he asked.

 

"Yes, I wouldn't mind."

 

"Then I'll give you fifty dollars, and you do the best you can for me. If I succeed I'll make you a present."

 

"All right. I hope you'll win, I am sure [illegible]"

 

Not giving himself time to think of the serious breach¹⁴ of trust he was committing, Conrad took the money from his pocket and transferred it to his companion.

 

"It won't take long, will it?" he asked anxiously.

 

"Very likely the stock will be bought and sold to-morrow."

 

"That will be splendid. You'll let me know right off?"

 

"Yes; I'll attend to that."

 

Conrad went home and reported to Mrs. Hamilton that the tenant¹⁵ had not paid, but would do so on Saturday.

 

Mrs. Hamilton was a little surprised, for the Third Avenue tenant had never before put her off. Something in Conrad's manner excited her suspicion, and she resolved the next day to call herself on Mr. Clark, the tenant. He would be likely to speak of the postponement¹⁶, and give reasons for it. 

1 promotion   

n.提升，晋级；促销，宣传

参考例句：

• The teacher conferred with the principal about Dick's promotion.教师与校长商谈了迪克的升级问题。
• The clerk was given a promotion and an increase in salary.那个职员升了级，加了薪。

2 remonstrate   

v.抗议，规劝

参考例句：

• He remonstrated with the referee.他向裁判抗议。
• I jumped in the car and went to remonstrate.我跳进汽车去提出抗议。

3 grumbled   

抱怨( grumble的过去式和过去分词 )； 发牢骚； 咕哝； 发哼声

参考例句：

• He grumbled at the low pay offered to him. 他抱怨给他的工资低。
• The heat was sweltering, and the men grumbled fiercely over their work. 天热得让人发昏，水手们边干活边发着牢骚。

4 insufficient   

adj.(for，of)不足的，不够的

参考例句：

• There was insufficient evidence to convict him.没有足够证据给他定罪。
• In their day scientific knowledge was insufficient to settle the matter.在他们的时代，科学知识还不能足以解决这些问题。

5 broker   

n.中间人，经纪人；v.作为中间人来安排

参考例句：

• He baited the broker by promises of higher commissions.他答应给更高的佣金来引诱那位经纪人。
• I'm a real estate broker.我是不动产经纪人。

6 drawn   

v.拖，拉，拔出；adj.憔悴的，紧张的

参考例句：

• All the characters in the story are drawn from life.故事中的所有人物都取材于生活。
• Her gaze was drawn irresistibly to the scene outside.她的目光禁不住被外面的风景所吸引。

7 maiden   

n.少女，处女；adj.未婚的，纯洁的，无经验的

参考例句：

• The prince fell in love with a fair young maiden.王子爱上了一位年轻美丽的少女。
• The aircraft makes its maiden flight tomorrow.这架飞机明天首航。

8 margin   

n.页边空白；差额；余地，余裕；边，边缘

参考例句：

• We allowed a margin of 20 minutes in catching the train.我们有20分钟的余地赶火车。
• The village is situated at the margin of a forest.村子位于森林的边缘。

9 cupidity   

n.贪心，贪财

参考例句：

• Her cupidity is well known.她的贪婪尽人皆知。
• His eyes gave him away,shining with cupidity.他的眼里闪着贪婪的光芒，使他暴露无遗。

10 remarkable   

adj.显著的，异常的，非凡的，值得注意的

参考例句：

• She has made remarkable headway in her writing skills.她在写作技巧方面有了长足进步。
• These cars are remarkable for the quietness of their engines.这些汽车因发动机没有噪音而不同凡响。

11 plank   

n.板条，木板，政策要点，政纲条目

参考例句：

• The plank was set against the wall.木板靠着墙壁。
• They intend to win the next election on the plank of developing trade.他们想以发展贸易的纲领来赢得下次选举。

12 deducting   

v.扣除，减去( deduct的现在分词 )

参考例句：

• Deducting drop size and velocity from circular blood stains. 如何从循环的血液中降低血滴的大小和速度。 来自电影对白
• Ordinary shareholders receive dividend from profit after deducting the preference shares dividend. 普通股股东可获派剩馀的盈利为股息。 来自互联网

13 risky   

adj.有风险的，冒险的

参考例句：

• It may be risky but we will chance it anyhow.这可能有危险，但我们无论如何要冒一冒险。
• He is well aware how risky this investment is.他心里对这项投资的风险十分清楚。

14 breach   

n.违反，不履行；破裂；vt.冲破，攻破

参考例句：

• We won't have any breach of discipline.我们不允许任何破坏纪律的现象。
• He was sued for breach of contract.他因不履行合同而被起诉。

15 tenant   

n.承租人；房客；佃户；v.租借，租用

参考例句：

• The tenant was dispossessed for not paying his rent.那名房客因未付房租而被赶走。
• The tenant is responsible for all repairs to the building.租户负责对房屋的所有修理。

16 postponement   

n.推迟

参考例句：

• He compounded with his creditors for a postponement of payment. 他与债权人达成协议延期付款。
• Rain caused the postponement of several race-meetings. 几次赛马大会因雨延期。