Best Kept Secret

you’d make a killing.’
    ‘That’s the bit I don’t understand,’ said Virginia.
    ‘Allow me to explain,’ said Alex. ‘When you buy a share, you don’t have to settle your account for twenty-one days. Equally, when you sell a share, you don’t get
paid for three weeks. For that twenty-one-day period you can trade without having to pay out any money, and because we have inside knowledge, we can take advantage of that situation.’
    ‘So what are you suggesting?’
    ‘Barrington’s AGM will open at ten next Thursday morning with the chairman’s annual report. Within a few hours, I anticipate the share price will fall from its present level of
just over four pounds to around three pounds and ten shillings. If you were to sell your seven and a half per cent holding as soon as the market opens at nine o’clock that day, it would cause
the price to fall even further, possibly below three pounds. Then you wait until the price has bottomed out before moving back in and repurchasing any stock available at the lower price, until
you’ve replaced your seven and a half per cent.’
    ‘Won’t the brokers become suspicious, and tell the board what we’re up to?’
    ‘They’re not going to say a word as long as they get a commission when they sell the stock and another one when they buy it back. They can’t lose either way.’
    ‘But can we?’
    ‘Only if the share price rises after the chairman’s annual report, because you’d have to pay more to buy your shares back. But frankly, that’s unlikely to happen once the
company announces that it’s putting three million pounds of its reserves at risk.’
    ‘So what do I do next?’
    ‘If you give me the authority to act on your behalf, I’ll place the business through a broker I know in Hong Kong so it can’t be traced back to either of us.’
    ‘Giles will work out what we’re up to. He’s no fool.’
    ‘Not if three weeks later the records show that the ownership of your seven and a half per cent of the company hasn’t changed. In any case, he has far more pressing problems to
occupy himself with at the moment.’
    ‘Such as?’
    ‘I’m told he’s facing a vote of confidence from the local Labour Party executive committee, after they found out about his relationship with Miss Gwyneth Hughes. There’s
even a chance he won’t be contesting the next election. That’s assuming you still haven’t signed those divorce papers.’

    ‘Can you assure me, Major Fisher, that this investigation has no connection with Sir Giles Barrington or Mrs Harry Clifton, because I’ve represented both of them in
the past, and that would create an unacceptable conflict of interest.’
    ‘My enquiries have nothing to do with the Barrington family,’ said Fisher. ‘It’s simply that the local Conservative Association has shortlisted two candidates to be their
representative for Bristol Docklands. As secretary of the association, I want to be absolutely sure there’s nothing in their backgrounds that might embarrass the party at some future
date.’
    ‘Are you looking for anything in particular, major?’
    ‘With your contacts in the force, I need you to find out if either of their names appears in police records.’
    ‘Does that include parking fines or other non-custodial offences?’
    ‘Anything that the Labour Party could use to its advantage during an election campaign.’
    ‘I get the picture,’ said Mitchell. ‘How much time do I have?’
    ‘The selection process will take a couple of months, possibly three, but I’ll need to know if you come up with anything long before then,’ said Fisher, passing over a piece of
paper with two names on it.
    Mitchell glanced at the two names before placing the piece of paper in his pocket. He left without another word.

    Fisher phoned a private number in Hong Kong at nine o’clock on the morning of Barrington’s Annual General Meeting. When he heard a familiar voice come on the line,
he said, ‘Benny, it’s the major.’
    ‘How are you, major? Long time, no hear.’
    ‘There’s a reason,’ said Fisher, ‘and I’ll explain everything when you’re next in London, but right now I need you to carry out a sell order for
me.’
    ‘My pen is poised,’ said Benny.
    ‘I want you to sell two hundred thousand shares in Barrington Shipping at spot price the moment the London Stock Exchange opens.’
    Benny whistled. ‘Consider it done,’ he said.
    ‘And once you’ve completed the