A WONDERFUL STROKE OF BUSINESS.
+~ A gentleman in Auckland has received a letter from a relative in England giving an account of a clever and daring business stroke. The writer, who dates from Liverpool, says ;•— ' We have had great evcitcment in the cotton market. A German Jew, called Ranger, bought, some months ago, all the cotton in tbe United States that was likely to reach this port in October. He then went about in Liverpool, buying all tbe cotton to arrive from i he local brokers. They sell cotton that has no existence if they think it is a good speculation, trusting to buy in a lower market and so hundreds and thousands of bales are sold daily tbat have no existence. Mr Ranger bought from all 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 cargoes were disposed of, and were not for sale, Mr Ranker then called upon tbe brokers, to fulfil their contract to him, failing which, be wo,uld execute the penalty for non« delivery. They found ttpt no one^iad cotton except Mr Kanger, and tliey were obliged to go to bi,m io buy in order to sell to him again. Tbe delivery under these contracts was to take place before noon on the 31st October, During tlie last few days in October, the excitement was terrific, and tbe Exchange on tbe last day of tbe month was a little Babel itself A place about the size of tbe 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 rounding Tattenham Corner. In all this whirlpool of excitement, Mr Ranger was as calm as Jupiter. He is a short thick-set man of 48, with, a firm, determined chin, and not a happy face. He has the telegraphic wire alongside his bed, from which he can send messages and news all over the world.'
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Inangahua Times, Volume II, 23 February 1880, Page 2
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356A WONDERFUL STROKE OF BUSINESS. Inangahua Times, Volume II, 23 February 1880, Page 2
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