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If we could trace out exactly where he stands, and where he has borrowed, we might know what to do." "Unless I am greatly mistaken," replied Arneel, "he is in a tight place or is rapidly getting there. This silver agitation is beginning to weaken stocks and tighten money. I suggest that our banks here loan him all the money he wants on call.
"Fortunately, we are not carrying much of that stock." "This is a rather serious occasion, isn't it?" "You don't tell me!" "Dear, dear!" Never a word in criticism from any source of either Hand or Schryhart or Arneel or Merrill, though the fact that they were back of the pool was well known.
Both Arneel and Hand, having at this time no personal quarrel with Cowperwood on any score, had considered this protest as biased. Addison had maintained that the loans were neither unduly large nor out of proportion to the general loans of the bank. The collateral offered was excellent.
All at once Schryhart, Arneel, Hand, and Merrill realized that they were in more or less of a trap in regard to their large holdings in American Match. Having gathered vast quantities of this stock, which had been issued in blocks of millions, it was now necessary to sustain the market or sell at a loss.
There are one or two other people I want to meet in between, and" he arose and looked at his own watch "I'll find the Union Club. Where is the office of Arneel & Co.?" At the mention of the great beef-packer, who was one of the bank's heaviest depositors, Addison stirred slightly with approval. This young man, at least eight years his junior, looked to him like a future grand seigneur of finance.
From this day on for a little while, and because there was no immediate political contest in sight, there was comparative peace in Chicago, although it more resembled an armed camp operating under the terms of some agreed neutrality than it did anything else. Schryhart, Hand, Arneel, and Merrill were quietly watchful.
Hull and Stackpole had originally set aside for themselves, Hand, Arneel, Schryhart, and Merrill had purchased five thousand shares each at forty, but had since been compelled to sustain the market to the extent of over five thousand shares more each, at prices ranging from one-twenty to two-twenty, the largest blocks of shares having been bought at the latter figure.
Cowperwood, over an excellent dinner in the sacred precincts of the Metropolitan Club in New York. Time, 8.30 P.M. Wine sparkling burgundy. "A telegram come shusst to-day from Frankhauser. A nice man dot. You shouldt meet him sometime. Hant he sells out his stock to Frankhauser. Merrill unt Edward Arneel vork vit us. Ve hantle efferyt'ing for dem. Mr.
No rumor that Cowperwood or his friends had been profiting or were in any way involved had come to any one present not as yet. At eight-thirty exactly Mr. Arneel first ambled in quite informally, Hand, Schryhart, and Merrill appearing separately very shortly after.
It is so essential apparently to fulfil in manner and air, if not in fact, the principle of "presence" which befits the role of conservator of society and leader of wealth. Every one of those named and many more to the number of thirty rode thus loftily forth in the hot, dry evening air and were soon at the door of the large and comfortable home of Mr. Timothy Arneel.
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