The Pit [31]
Trade Building that held the tide of the streets within its grip, alternately drawing it in and throwing it forth. Within there, a great whirlpool, a pit of roaring waters spun and thundered, sucking in the life tides of the city, sucking them in as into the mouth of some tremendous cloaca, the maw of some colossal sewer; then vomiting them forth again, spewing them up and out, only to catch them in the return eddy and suck them in afresh.
Thus it went, day after day. Endlessly, ceaselessly the Pit, enormous, thundering, sucked in and spewed out, sending the swirl of its mighty central eddy far out through the city's channels. Terrible at the centre, it was, at the circumference, gentle, insidious and persuasive, the send of the flowing so mild, that to embark upon it, yielding to the influence, was a pleasure that seemed all devoid of risk. But the circumference was not bounded by the city. All through the Northwest, all through the central world of the Wheat the set and whirl of that innermost Pit made itself felt; and it spread and spread and spread till grain in the elevators of Western Iowa moved and stirred and answered to its centripetal force, and men upon the streets of New York felt the mysterious tugging of its undertow engage their feet, embrace their bodies, overwhelm them, and carry them bewildered and unresisting back and downwards to the Pit itself.
Nor was the Pit's centrifugal power any less. Because of some sudden eddy spinning outward from the middle of its turmoil, a dozen bourses of continental Europe clamoured with panic, a dozen Old-World banks, firm as the established hills, trembled and vibrated. Because of an unexpected caprice in the swirling of the inner current, some far-distant channel suddenly dried, and the pinch of famine made itself felt among the vine dressers of Northern Italy, the coal miners of Western Prussia. Or another channel filled, and the starved moujik of the steppes, and the hunger-shrunken coolie of the Ganges' watershed fed suddenly fat and made thank offerings before ikon and idol.
There in the centre of the Nation, midmost of that continent that lay between the oceans of the New World and the Old, in the heart's heart of the affairs of men, roared and rumbled the Pit. It was as if the Wheat, Nourisher of the Nations, as it rolled gigantic and majestic in a vast flood from West to East, here, like a Niagara, finding its flow impeded, burst suddenly into the appalling fury of the Maelstrom, into the chaotic spasm of a world-force, a primeval energy, blood-brother of the earthquake and the glacier, raging and wrathful that its power should be braved by some pinch of human spawn that dared raise barriers across its courses.
Small wonder that Cressler laughed at the thought of cornering wheat, and even now as Jadwin crossed Jackson Street, on his way to his broker's office on the lower floor of the Board of Trade Building, he noted the ebb and flow that issued from its doors, and remembered the huge river of wheat that rolled through this place from the farms of Iowa and ranches of Dakota to the mills and bakeshops of Europe.
"There's something, perhaps, in what Charlie says," he said to himself. "Corner this stuff--my God!"
Gretry, Converse & Co. was the name of the brokerage firm that always handled Jadwin's rare speculative ventures. Converse was dead long since, but the firm still retained its original name. The house was as old and as well established as any on the Board of Trade. It had a reputation for conservatism, and was known more as a Bear than a Bull concern. It was immensely wealthy and immensely important. It discouraged the growth of a clientele of country customers, of small adventurers, knowing well that these were the first to go in a crash, unable to meet margin calls, and leaving to their brokers the responsibility of their disastrous trades. The large, powerful Bears were its friends, the Bears strong of grip, tenacious of jaw, capable of pulling down the strongest Bull. Thus the firm had no consideration for the "outsiders,"
Thus it went, day after day. Endlessly, ceaselessly the Pit, enormous, thundering, sucked in and spewed out, sending the swirl of its mighty central eddy far out through the city's channels. Terrible at the centre, it was, at the circumference, gentle, insidious and persuasive, the send of the flowing so mild, that to embark upon it, yielding to the influence, was a pleasure that seemed all devoid of risk. But the circumference was not bounded by the city. All through the Northwest, all through the central world of the Wheat the set and whirl of that innermost Pit made itself felt; and it spread and spread and spread till grain in the elevators of Western Iowa moved and stirred and answered to its centripetal force, and men upon the streets of New York felt the mysterious tugging of its undertow engage their feet, embrace their bodies, overwhelm them, and carry them bewildered and unresisting back and downwards to the Pit itself.
Nor was the Pit's centrifugal power any less. Because of some sudden eddy spinning outward from the middle of its turmoil, a dozen bourses of continental Europe clamoured with panic, a dozen Old-World banks, firm as the established hills, trembled and vibrated. Because of an unexpected caprice in the swirling of the inner current, some far-distant channel suddenly dried, and the pinch of famine made itself felt among the vine dressers of Northern Italy, the coal miners of Western Prussia. Or another channel filled, and the starved moujik of the steppes, and the hunger-shrunken coolie of the Ganges' watershed fed suddenly fat and made thank offerings before ikon and idol.
There in the centre of the Nation, midmost of that continent that lay between the oceans of the New World and the Old, in the heart's heart of the affairs of men, roared and rumbled the Pit. It was as if the Wheat, Nourisher of the Nations, as it rolled gigantic and majestic in a vast flood from West to East, here, like a Niagara, finding its flow impeded, burst suddenly into the appalling fury of the Maelstrom, into the chaotic spasm of a world-force, a primeval energy, blood-brother of the earthquake and the glacier, raging and wrathful that its power should be braved by some pinch of human spawn that dared raise barriers across its courses.
Small wonder that Cressler laughed at the thought of cornering wheat, and even now as Jadwin crossed Jackson Street, on his way to his broker's office on the lower floor of the Board of Trade Building, he noted the ebb and flow that issued from its doors, and remembered the huge river of wheat that rolled through this place from the farms of Iowa and ranches of Dakota to the mills and bakeshops of Europe.
"There's something, perhaps, in what Charlie says," he said to himself. "Corner this stuff--my God!"
Gretry, Converse & Co. was the name of the brokerage firm that always handled Jadwin's rare speculative ventures. Converse was dead long since, but the firm still retained its original name. The house was as old and as well established as any on the Board of Trade. It had a reputation for conservatism, and was known more as a Bear than a Bull concern. It was immensely wealthy and immensely important. It discouraged the growth of a clientele of country customers, of small adventurers, knowing well that these were the first to go in a crash, unable to meet margin calls, and leaving to their brokers the responsibility of their disastrous trades. The large, powerful Bears were its friends, the Bears strong of grip, tenacious of jaw, capable of pulling down the strongest Bull. Thus the firm had no consideration for the "outsiders,"