A WONDERFUL STROKE OF BUSINESS.
■ ' : • A gentl'eradn in Aucklatld has feletter from a relative in England giving, an account of a clever and daring business stroke. The writer, who dates from Livefpobl, says ‘ Wfe have had great excitement in the cottdn market; A German Jew, cklled Rknger, bought, some months ago. all the cotton in the United States that was likely to reach this porij in t)ctoberi. He tbenwerit about in Liverpool, buying all the cdtton to arrive from the local brokers. They sell cotton that has no existenbe if they think it * is d good speculation, trusting to buy in a lower market and so hundreds and thousands of bales are sold daily that have ho existence. Mr Ranger bought from dlji who, would.sell, with the promise that the delivery would take place in October; When October came, and the cargoes began to arrive from America, the brokers found that they could not make purchases, that the disposed of arid were not —fotdflHL- Mr Ranger then called upon the brokers, to fulfil their contract to him, failing which, he wo(lld execute the penalty for non-delivery. They fotind that no One had cotton except Mr Ranger, and they were Obliged to go to him to buy in order to sell tO him again. The delivery under, contracts was to take place before noon on tuo Slet October; During the last few
days in October,, 'tlie excitement was terrific, arid tlie Exchange on the last day of the month was alfttle. BabU itself. A. plape about the size of the Albert Barrack Square was filled with a clamorous, excited multitude, shouting and hallowing at the top of their .voices, just like the mob on the Derby Day, when the horses, are first.seen founding Tattenham Corner. In all this whirlpool of excitement, Mr Ram ger was as calm as Ju pi ter, fie is a short thick-set man of 48, with, a firm, determined chin, and not a happy face. So has the telegraphic wire alongside nis bed, from which he bad. send messages and news all over the world.’
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Bibliographic details
Kumara Times, Issue 1065, 28 February 1880, Page 3
Word Count
348A WONDERFUL STROKE OF BUSINESS. Kumara Times, Issue 1065, 28 February 1880, Page 3
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