Norfleet: the actual experiences of a Texas rancher's 30,000-mile transcontinental chase after five confidence men. Page: 28 of 369
The following text was automatically extracted from the image on this page using optical character recognition software:
by placing an order to sell, thereby covering the loss if
possible, and maybe we'll come out a little ahead in case
the market does not drop off."
Later he returned to the room stating that he had
just reached there before the market closed and had
placed an order to sell eighty thousand dollars worth of
stock at a 2-point margin.
That same evening, we had a visit from a man who
claimed to be Secretary of the Fort Worth Exchange,
Charles Gerber. He informed us that we had earned
and had coming to us $160,000.00, but as we were not
members of the Exchange we would have to exhibit
eighty thousand dollars to confirm the bid.
On the 20th of November, I again started home for
the purpose of raising twenty-five thousand dollars which
was to be my part of the eighty thousand dollars confirmation
Spencer was to go to his home in Salina, Kansas,
and mortgage his farm there for $30,000.00, and Stetson
was to raise the balance.
After arriving home I explained to my wife the
position in which I was placed, saying it would be necessary
for me to raise an additional twenty-five thousand
dollars in order to avoid loss of the initial amount I had
invested. After some difficulty I managed to raise the
money by borrowing from my brother-in-law. Then I
returned to Fort Worth, stopping at the Westbrook with
Spencer who had returned with his part of the money.
The three of us had raised seventy thousand dollars,
leaving a balance of ten thousand, which Spencer said
he could get by going to Austin and disposing of some
Liberty Bonds which his aunt was keeping there for him.
He was to wire the money to me in care of the Cadillac
Hotel, Dallas, as Stetson said he had received instructions
to transfer back to Dallas to operate on the Exchange
there and that all business had already been
transferred to that place.
Ile said he must leave at once and proposed that
Here’s what’s next.
This book can be searched. Note: Results may vary based on the legibility of text within the document.
Tools / Downloads
Get a copy of this page or view the extracted text.
Citing and Sharing
Basic information for referencing this web page. We also provide extended guidance on usage rights, references, copying or embedding.
Reference the current page of this Book.
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/m1/28/: accessed August 16, 2018), University of North Texas Libraries, The Portal to Texas History, texashistory.unt.edu; .