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"There is a small item bearing on this point, so small as to be hardly worth calling evidence, but just worth noting. In the pocket of the waistcoat taken from the body of Jeffrey I found the stump of a 'Contango' pencil; a pencil that is sold for the use of stock dealers and brokers.
Stay here, Lesbia, and let us live upon the river, and among the flowers, urged Smithson, with as romantic an air as if he had never heard of contango, or bulling and bearing; and yet only half an hour ago, while his valet was shaving him, he was debating within himself whether he should be bear or bull in his influence upon certain stock.
One of the few instances I remember of our Jorian stooping to a pun, is upon the contango: ingenious truly, but objectionable, because a pun. I shall not be guilty of repeating it. "The stockmarket is the national snapdragon bowl," he says, and is very amusing upon the Jews; whether quite fairly, Mr. Beltham knows better than I, on my honour.
He speculated in the bonds when they began to go down; and I'm blessed if they haven't been dropping ever since, an eighth a day, as regular as the day comes round. He bought them for the March account, and has been paying contango since then, and holding on in hopes of a rise. I don't know whether the purchase was a large one, but I know he's been uncommonly savage about the drop.
One of the few instances I remember of our Jorian stooping to a pun, is upon the contango: ingenious truly, but objectionable, because a pun. I shall not be guilty of repeating it. "The stockmarket is the national snapdragon bowl," he says, and is very amusing upon the Jews; whether quite fairly, Mr. Beltham knows better than I, on my honour.
The sum he might raise on the policies of insurance would about cover these bills; and, simultaneously with their withdrawal, fresh bills might be floated, and the horse-leech cry of the brokers for contango might be satisfied until there came a reaction in the City, and the turning tide should float him into some harbour of safety.
He had implicit belief in his own cleverness; and he fancied if every other bark in that tempest-tossed ocean foundered and sank, his boat might ride triumphantly across the harbour-bar, secure by virtue of his science and daring as a navigator. It was not till he had seen a small fortune melt away in the payment of contango, that he consented to the inevitable.
I noted a crease on each leg of the deceased man's trousers as if they had been turned up half-way to the knee; and in the waistcoat pocket I found the stump of a 'Contango' pencil. On the floor of the bedroom, I found a portion of an oval glass somewhat like that of a watch or locket, but ground at the edge to a double bevel. Dr.
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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