The Consolidator - or, Memoirs of Sundry Transactions from the World in the Moon by Daniel Defoe
page 156 of 219 (71%)
page 156 of 219 (71%)
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get almost all that Capital Trade into their Hands as follows.
They concerted Matters, and all at once fell to selling off their Stock, giving out daily Reports that they would be no longer concern'd, that it was a losing Trade, that the Fund at bottom was good for nothing, and that of two Societies the Old one had not 20 per Cent. to divide, all their Debts being paid; that the New Society had Traded several Years, but if they were dissolv'd could not say that they had got any thing; and that this must be a Cheat at last, and so they resolv'd to sell. By this Artifice, they daily offering to Sale, and yet in all their Discourse discouraging the thing they were to sell no Body could be found to buy. The offering a thing to Sale and no Bidders, is a certain never-failing prospect of a lowring the Price; from this Method therefore the value of all the Banks, Companies, Societies and Stocks in the Country fell to be little or nothing worth; and that was to be bought for 40 or 45 Lunarians that was formerly sold at 150, and so in proportion of all the rest. All this while the Crolians employ'd their Emissaries to buy up privately all the Interest or Shares in these Things that any of the Solunarian Party would sell. This Plot took readily, for these Gentlemen exposing the weakness of these Societies, and running down the value of their Stocks, and at the same time warily buying at the lowest Prices, not only in time got Possession of the whole Trade, with their Grants, Privileges and |
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