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Updated: May 19, 2025
His elder resentment was of course against O'Connor, who was taking advantage in every way of the Guardian's misfortunes; but as the palpably weakening hold of the company brought him more closely in touch with its underwriting affairs, as the questionable losses from Boston and other similar agencies began to arrive in faster and faster succession, and he clearly perceived the weakness and incapability of Gunterson's management, his irritation rightly directed itself more and more against the luckless Vice-President.
Gunterson's friendly suggestion, the Birmingham Bessemer Steel Corporation was in the hands of a receiver, who, after some hesitation, issued a statement to the effect that the bondholders might eventually realize fifteen cents on every dollar they had paid in. On the second day of March an unusual thing happened. Mr.
Gunterson's brother-in-law precipitated its insolvency even before its underwriting losses could overtake it; of the Planters of Oklahoma, which the Insurance Commissioner of Massachusetts one day examined with the interesting discovery that its liabilities were nearly three times its assets; and of the Constitution Fire of Washington, D.C., which ceased to issue policies by request of the United States Government.
Gunterson's discoveries. Only one of the partners, Mr. Bloom, had reached the office at the time the representative of the Guardian was announced, and it became necessary to wait until Mr. Sternberg and Mr. McCoy arrived. This they presently did, and a brief meeting took place in the same room in which, three months before, this precious trio had signed a Guardian contract with Samuel Gunterson.
"Why, that's substantially all, to date," returned the New Yorker, dishonestly; "except that I've been sent up here to see what I can do to improve our position in Boston." "Ah! Who sent you? Who is in charge of the Guardian now?" continued Miss Maitland, calmly. "Mr. Wintermuth, of course," replied her victim. "And under Mr. Wintermuth? Has no one been elected to fill Mr. Gunterson's place?"
"Well, you see, Mr. Gunterson only resigned a few days ago. Boards of directors don't as a rule move very rapidly. There hasn't really been a great deal of time." "Who has been elected to fill Mr. Gunterson's place?" "Are you under the impression that ?" "Do you wish me to say it again? Who has been elected Vice-President of the Guardian?" "A man," said her visitor slowly, "by the name of Smith."
Gunterson's management were either restored to the company's lists, or else their places had been taken by others of equal or superior quality. Out in the field the special agents had under Smith's aggressive direction recovered their courage and carried out with striking success the details of his campaign.
Gunterson's next suggestion. The President broke into the discussion. "They've been uptown managers of the Inland for twenty years. And Snow is a big stockholder in the company. We would be wasting our time to approach them." There was a hint of contempt in his tone.
Wintermuth lived in ignorance until the results began to show on the surface which was not a far day. From William Street, however, the busy and irreverent Street, soon came the slings and arrows which pierced even Mr. Gunterson's almost impregnable self-esteem. Only a few days after his return he overheard a conversation between Mr.
Gunterson's name to you." "No," said the President, shaking his head. "The man who mentioned Gunterson to me is a real friend of mine it was merely his judgment that was at fault." "Well, I'm glad to hear it," the other responded. "But the point is this: is O'Connor likely to stop now? That's what we've got to consider." "It is no particular concern of mine what Mr.
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