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Both views had their supporters on the Exchange, but after the wrench of August 1st, when with an abrupt eighty-shilling rise the price of Rubber Consols stood at 15 pounds, and it was to be computed that Semple had received on that single day nearly 75,000 pounds in differences and "backwardation," a story was set afloat which gave Thorpe the undivided credit of the invention.
If he chose, he could explain to you the meaning of contango, and even of that mysterious term to the uninitiated, 'backwardation. His speculations for the 'account' are sometimes heavy. So much so, that occasionally, with thousands invested, he has hardly any ready money. But, then, there are the crops; he can get money on the coming crops.
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