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The Lake Shore Railroad failed to pay a call-loan of one million seven hundred and fifty thousand dollars; and the Union Trust Company, allied to the Vanderbilt interests, closed its doors after withstanding a prolonged run.
"We owe Timothy Arneel at least three hundred thousand dollars that we only have to pay three per cent. for. It's a call-loan. Besides, the Lake National is our main standby when it comes to quick trades, and he's in on that. I understand from one or two friends that he's at outs with Cowperwood, and we can't afford to offend him. I'd like to, but no more for me not at present, anyhow."
His father came back to say it was doubtful whether they could make the loan. Eight per cent., then being secured for money, was a small rate of interest, considering its need. For ten per cent. Mr. Kugel might make a call-loan. Frank went back to his employer, whose commercial choler rose at the report. "For Heaven's sake, is there no money at all in the town?" he demanded, contentiously.
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