the titan-第74章

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least　at　ten　or　fifteen；　or　whatever　rate　you　care　to　fix。〃

Cowperwood　interlocked　his　fingers　and　twiddled　his　thumbs　as　he　contemplated　this　latest　evidence　of　earthly　difficulty　and　uncertainty。　　Time　and　chance　certainly　happened　to　all　men；　and　here　was　one　opportunity　of　paying　out　those　who　had　been　nagging　him。　　To　take　this　stock　at　one…fifty　on　loan　and　peddle　it　out　swiftly　and　fully　at　two…twenty　or　less　would　bring　American　Match　crumbling　about　their　ears。　　When　it　was　selling　at　one…fifty　or　less　he　could　buy　it　back；　pocket　his　profit；　complete　his　deal　with　Mr。　Stackpole；　pocket　his　interest；　and　smile　like　the　well…fed　cat　in　the　fable。　　It　was　as　simple　as　twiddling　his　thumbs；　which　he　was　now　doing。

〃Who　has　been　backing　this　stock　here　in　Chicago　besides　yourself　and　Mr。　Hull？〃　he　asked；　pleasantly。　　〃I　think　that　I　already　know；　but　I　should　like　to　be　certain　if　you　have　no　objection。〃

〃None　in　the　least；　none　in　the　least；〃　replied　Mr。　Stackpole；　accommodatingly。　　〃Mr。　Hand；　Mr。　Schryhart；　Mr。　Arneel；　and　Mr。　Merrill。〃

〃That　is　what　I　thought；〃　commented　Cowperwood；　easily。　　〃They　can't　take　this　up　for　you？　Is　that　it？　Saturated？〃

〃Saturated；〃　agreed　Mr。　Stackpole；　dully。　　〃But　there's　one　thing　I'd　have　to　stipulate　in　accepting　a　loan　on　these。　　Not　a　share　must　be　thrown　on　the　market；　or；　at　least；　not　before　I　have　failed　to　respond　to　your　call。　　I　have　understood　that　there　is　a　little　feeling　between　you　and　Mr。　Hand　and　the　other　gentlemen　I　have　mentioned。　　But；　as　I　sayand　I'm　talking　perfectly　frankly　nowI'm　in　a　corner；　and　it's　any　port　in　a　storm。　　If　you　want　to　help　me　I'll　make　the　best　terms　I　can；　and　I　won't　forget　the　favor。〃

He　opened　the　bag　and　began　to　take　out　the　securitieslong　greenish…yellow　bundles；　tightly　gripped　in　the　center　by　thick　elastic　bands。　　They　were　in　bundles　of　one　thousand　shares　each。　Since　Stackpole　half　proffered　them　to　him；　Cowperwood　took　them　in　one　hand　and　lightly　weighed　them　up　and　down。

〃I'm　sorry；　Mr。　Stackpole；〃　he　said；　sympathetically；　after　a　moment　of　apparent　reflection；　〃but　I　cannot　possibly　help　you　in　this　matter。　　I'm　too　involved　in　other　things　myself；　and　I　do　not　often　indulge　in　stock…peculations　of　any　kind。　　I　have　no　particular　malice　toward　any　one　of　the　gentlemen　you　mention。　　I　do　not　trouble　to　dislike　all　who　dislike　me。　　I　might；　of　course；　if　I　chose；　take　these　stocks　and　pay　them　out　and　throw　them　on　the　market　to…morrow；　but　I　have　no　desire　to　do　anything　of　the　sort。　I　only　wish　I　could　help　you；　and　if　I　thought　I　could　carry　them　safely　for　three　or　four　months　I　would。　　As　it　is〃　He　lifted　his　eyebrows　sympathetically。　　〃Have　you　tried　all　the　bankers　in　town？〃

〃Practically　every　one。〃

〃And　they　can't　help　you？〃

〃They　are　carrying　all　they　can　stand　now。〃

〃Too　bad。　　I'm　sorry；　very。　　By　the　way；　do　you　happen；　by　any　chance；　to　know　Mr。　Millard　Bailey　or　Mr。　Edwin　Kaffrath？〃

〃No；　I　don't；〃　replied　Stackpole；　hopefully。

〃Well；　now；　there　are　two　men　who　are　much　richer　than　is　generally　supposed。　　They　often　have　very　large　sums　at　their　disposal。　　You　might　look　them　up　on　a　chance。　　Then　there's　my　friend　Videra。　　I　don't　know　how　he　is　fixed　at　present。　　You　can　always　find　him　at　the　Twelfth　Ward　Bank。　　He　might　be　inclined　to　take　a　good　portion　of　thatI　don't　know。　　He's　much　better　off　than　most　people　seem　to　think。　　I　wonder　you　haven't　been　directed　to　some　one　of　these　men　before。〃　（As　a　matter　of　fact；　no　one　of　the　individuals　in　question　would　have　been　interested　to　take　a　dollar　of　this　loan　except　on　Cowperwood's　order；　but　Stackpole　had　no　reason　for　knowing　this。　　They　were　not　prominently　identified　with　the　magnate。）

〃Thank　you　very　much。　　I　will；〃　observed　Stackpole；　restoring　his　undesired　stocks　to　his　bag。

Cowperwood；　with　an　admirable　show　of　courtesy；　called　a　stenographer；　and　pretended　to　secure　for　his　guest　the　home　addresses　of　these　gentlemen。　　He　then　bade　Mr。　Stackpole　an　encouraging　farewell。　　The　distrait　promoter　at　once　decided　to　try　not　only　Bailey　and　Kaffrath；　but　Videra；　but　even　as　he　drove　toward　the　office　of　the　first…mentioned　Cowperwood　was　personally　busy　reaching　him　by　telephone。

〃I　say；　Bailey；〃　he　called；　when　he　had　secured　the　wealthy　lumberman　on　the　wire；　〃Benoni　Stackpole；　of　Hull　&　Stackpole；　was　here　to　see　me　just　now。〃

〃Yes。〃

〃He　has　with　him　fifteen　thousand　shares　of　American　Matchpar　value　one　hundred；　market　value　to…day　two…twenty。〃

〃Yes。〃

〃He　is　trying　to　hypothecate　the　lot　or　any　part　of　it　at　one…fifty。〃

〃Yes。〃

〃You　know　what　the　trouble　with　American　Match　is；　don't　you？〃

〃No。　　I　only　know　it's　being　driven　up　to　where　it　is　now　by　a　bull　campaign。〃

〃Well；　listen　to　me。　　It's　going　to　break。　　American　Match　is　going　to　bust。〃

〃Yes。〃

〃But　I　want　you　to　loan　this　man　five　hundred　thousand　dollars　at　one…twenty　or　less　and　then　recommend　that　he　go　to　Edwin　Kaffrath　or　Anton　Videra　for　the　balance。〃

〃But；　Frank；　I　haven't　any　five　hundred　thousand　to　spare。　　You　say　American　Match　is　going　to　bust。〃

〃I　know　you　haven't；　but　draw　the　check　on　the　Chicago　Trust；　and　Addison　will　honor　it。　　Send　the　stock　to　me　and　forget　all　about　it。　　I　will　do　the　rest。　　But　under　no　circumstances　mention　my　name；　and　don't　appear　too　eager。　　Not　more　than　one…twenty　at　the　outside；　do　you　hear？　and　less　if　you　can　get　it。　　You　recognize　my　voice；　do　you？〃

〃Perfectly。〃

〃Drive　over　afterward　if　you　have　time　and　let　me　know　what　happens。〃

〃Very　good；〃　commented　Mr。　Bailey；　in　a　businesslike　way。

Cowperwood　next　called　for　Mr。　Kaffrath。　　Conversing　to　similar　effect　with　that　individual　and　with　Videra；　before　three…quarters　of　an　hour　Cowperwood　had　arranged　completely　for　Mr。　Stackpole's　tour。　　He　was　to　have　his　total　loan　at　one…twenty　or　less。　　Checks　were　to　be　forthcoming　at　once。　　Different　banks　were　to　be　drawn　onbanks　other　than　the　Chicago　Trust　Company。　　Cowperwood　would　see；　in　some　roundabout　way；　that　these　checks　were　promptly　honored；　whether　the　cash　was　there　or　not。　　In　each　case　the　hypothecated　stocks　were　to　be　sent　to　him。　　Then；　having　seen　to　the　perfecting　of　this　little　programme；　and　that　the　banks　to　be　drawn　upon　in　this　connection　understood　perfectly　that　the　checks　in　question　were　guaranteed　by　him　or　others；　he　sat　down　to　await　the　arrival　of　his　henchmen　and　the　turning　of　the　stock　into　his　private　safe。




Chapter　XLVIII



Panic

On　August　4；　1896；　the　city　of　Chicago；　and　for　that　matter　the　entire　financial　world；　was　startled　and　amazed　by　the　collapse　of　American　Match；　one　of　the　strongest　of　market　securities；　and　the　coincident　failure　of　Messrs。　Hull　and　Stackpole；　its　ostensible　promoters；　for　twenty　millions。　　As　early　as　eleven　o'clock　of　the　preceding　day　the　banking　and　brokerage　world　of　Chicago；　trading　in　this　stock；　was　fully　aware　that　something　untoward　was　on　foot　in　connection　with　it。　　Owing　to　the　high　price　at　which　the　stock　was　〃protected；〃　and　the　need　of　money　to　liquidate；　blocks　of　this　stock　from　all　parts　of　the　country　were　being　rushed　to　the　market　with　the　hope　of　realizing　before　the　ultimate　break。　　About　the　stock…exchange；　which　frowned　like　a　gray　fortress　at　the　foot　of　La　Salle　Street；　all　was　excitementas　though　a　giant　anthill　had　been　ruthlessly　disturbed。　　Clerks　and　messengers　hurried　to　and　fro　in　confused　and　apparently　aimless　directions。　　Brokers　whose　supply　of　American　Match　had　been　apparently　exhausted　on　the　previous　day　now　appeared　on　'change　bright　and　early；　and　at　the　clang　of　the　gong　began　to　offer　the　stock　in　sizable　lots　of　from　two　hundred　to　five　hundred　shares。　　The　agents　of　Hull　&　Stackpole　were　in　the　market；　of　course；　in　the　front　rank　of　the　scrambling；　yelling　throng；　taking　up　whatever　stock　appeared　at　the　price　they　were　hoping　to　maintain。　　The　two　promoters　were　in　touch　by　'phone　and　wire　not　only　with　those　various　important　personages　whom　they　had　induced　to　enter　upon　this　bull　campaign；　but　with　their　various　clerks　and　agents　on　'change。　　Naturally；　under　the　circumstances　both　were　in　a　gloomy　frame　of　mind。　　This　game　was　no　longer　moving　in　those　large；　easy　sweeps　which　characterize　the　more　favorable　aspects　of　high　finance。　　Sad　to　relate；　as　in　all　the　troubled　flumes　of　life　where　vast　currents　are　compressed　in　narrow；　tortuous　spaces；　these　two　men　were　now　concerned　chiefly　with　the　momentary　care　of　small　but　none　the　less　heartbreaking　burdens。　　Where　to　find　fifty　thousand　to　take　care　of　this　or　that　burden　of　stock　which　was　momentarily　falling　upon　them？　They　were　as　two　men　called　upon；　with　their　limited　hands　and　strength；　to　seal　up　the　ever…increasing　crevices　of　a　dike　beyond　which　raged　a　mountainous　and　destructive　sea。

At　eleven　o'clock　Mr。　Phineas　Hull　rose　from　the　chair　which　sat　before　his　solid　mahogany　desk；　and　confronted　his　partner。

〃I'll　tell　you；　Ben；〃　he　said；　〃I'm　afraid　we　can't　make　this。　　We've　hypothecated　so　much　of　this　stock　around　town　that　we　can't　possibly　tell　who's　doing　what。　　I　know　as　well　as　I'm　standing　on　this　floor　that　some　one；　I　can't　say　which　one；　is　selling　us　out。　　You　don't　suppose　it　could　be　Cowperwood　or　any　of　those　people　he　sent　to　us；　do　you？〃

Stackpole；　worn　by　his　experiences　of　the　past　few　weeks；　was　inclined　to　be　irritable。

〃How　should　I　know；　Phineas？〃　he　inquired；　scowling　in　troubled　thought。　　〃I　don't　think　so。　　I　didn't　notice　any　signs　that　they　were　interested　in　stock…gambling。　　Anyhow；　we　had　to　have　the　money　in　some　form。　　Any　one　of　the　whole　crowd　is　apt　to　get　frightened　now　at　any　moment　and　throw　the　whole　thing　over。　　We're　in　a　tight　place；　that's　plain。〃

For　the　fortieth　time　he　plucked　at　a　too…tight　collar　and　pulled　up　his　shirt…sleeves；　for　it　was　stifling；　and　he　was　coatless　and　waistcoatless。　　Just　then　Mr。　Hull's　telephone　bell　rangthe　one　connecting　with　the　firm's　private　office　on　'change；　and　the　latter　jumped　to　seize　the　receiver。

〃Yes？〃　he　inquired；　irritably。

〃Two　thousand　shares　of　American　offered　at　two…twenty！　Shall　I　take　them？〃

The　man　who　was　'phoning　was　in　sight　of　another　man　who　stood　at　the　railing　of　the　brokers'　gallery　overlooking　〃the　pit；〃　or　central　room　of　the　stock…exchange；　and　who　instantly　transferred　any　sign　he　might　receive　to　the　man　on　the　floor。　　So　Mr。　Hull's　〃yea〃　or　〃nay〃　would　be　almost　instantly　transmuted　into　a　cash　transaction　on　'change。

〃What　do　you　think　of　that？〃　asked　Hull　of　Stackpole；　putting　his　hand　over　the　receiver's　mouth；　his　right　eyelid　drooping　heavier　than　ever。　　〃Two　thousand　more　to　take　up！　Where　d'you　suppose　they　are　coming　from？　Tch！〃

〃Well；　the　bottom's　out；　that's　all；〃　replied　Stackpole；　heavily　and　gutturally。　　〃We　can't　do　what　we　can't　do。　　I　say　this；　though：　support　it　at　two…twenty　until　three　o'clock。　　Then　we'll　figure　up　where　we　stand　and　what　we　owe。　　And　meanwhile　I'll　see　what　I　can　do。　　If　the　banks　won't　help　us　and　Arneel　and　that　crowd　want　to　get　from　under；　we'll　fail；　that's　all；　but　not　before　I've　had　one　more　try；　by　Jericho！　They　may　not　help　us；　but〃

Actually　Mr。　Stackpole　did　not　see　what　was　to　be　done　unless