Then he could buy, and, later, up would go the price.

Having the issues totally in his hands to boost or depress the market as he wished, there was no reason why the city should not ultimately get par for all its issues, and at the same time considerable money be made out of the manufactured fluctuations.

He, Cowperwood, would be glad to make most of his profit that way.

The city should allow him his normal percentage on all his actual sales of certificates for the city at par (he would have to have that in order to keep straight with the stock exchange); but beyond that, and for all the other necessary manipulative sales, of which there would be many, he would depend on his knowledge of the stock market to reimburse him.

And if Stener wanted to speculate with him--well.
Dark as this transaction may seem to the uninitiated, it will appear quite clear to those who know.