On Wednesday, the New York Stock Exchange opened.
Tom Hayes sat in his office, overlooking Wall Street, like a conductor about to lead a symphony.
However, instead of a score, he had only three encrypted telegraph lines connecting to Boston and Philadelphia.
"Johnny," he gave his first command to his assistant beside him.
"Sir, I'm here. What are your orders?"
"Send telegrams to our friends in Boston and Philadelphia, tell them to begin the operation."
"Yes."
"You personally go to the Exchange. Find our three agents in New York, who don't know each other, and tell them the same thing."
"Today and tomorrow."
"We have only one mission: to convert all of our three hundred thousand into short positions in Knickerbocker Bank, without alarming anyone. I want our noose silently tightened around Mr. Sterling's fat neck before the market closes on Thursday."
Thus began a secret short-selling operation spanning the three major financial centers of the American East Coast.
