Norfleet: the actual experiences of a Texas rancher's 30,000-mile transcontinental chase after five confidence men. Page: 24 of 369
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take to the Exchange, always bringing back a receipt to
At the close of the day's business, Spencer came to
the room bringing with him sixty-eight thousand dollars
Stetson then counted out my portion of the gain
which amounted to twenty-eight thousand dollars. This
he handed to me just as some one knocked at the door.
The secretary of the Exchange (the party who ejected
me from the building and later known as E. J. Ward)
came into the room and exclaimed:
"Gentlemen, your bids made in the name of Norfleet
and Spencer have earned you a lot of money, but inasmuch
as you are not members of the Exchange, I will
have to ask if you are in a position to confirm the bids
in case you had lost?"
Spencer and I both informed him that we could not.
At this Stetson arose and said: "Mr. Secretary,
you know the rules of the Exchange. Settlement days
are on the 1st and 15th of each month, and as a member
of the Exchange I guarantee this confirmation by the
15th, which by the way is on Saturday. This will give
us until Monday the 17th."
Ward stated that would be satisfactory, only he
would have to return the money to the Exchange until
such time as the confirmation was made. He would
issue a due bill and receipt for the money, which we
could present at the time the bids were confirmed and
then draw the money. In the meantime we could use
the due bill as credit at the exchange. He then made
out a due bill for the sixty-eight thousand dollars in
favor of Norfleet and Spencer. He took the money and
left the room.
Stetson, Spencer and I held a conference to determine
how we should raise the amount necessary to
confirm the bids which we had previously made. It was
finally agreed that Spencer should raise thirty-five thou
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Norfleet, J. Frank, 1864-. Norfleet: the actual experiences of a Texas rancher's 30,000-mile transcontinental chase after five confidence men., book, 1924; Ft. Worth, Texas. (texashistory.unt.edu/ark:/67531/metapth5864/m1/24/: accessed March 20, 2018), University of North Texas Libraries, The Portal to Texas History, texashistory.unt.edu; .