"How much?" asked Clark.
"I have a statement here," said John. "When I got to London, I saw the broker. He said that American stocks, particularly those which I held, had undergone a great depreciation. He a.s.sured me that it was only temporary, that the dividends which these stocks paid were enough to raise them in a short time, perhaps in a few weeks, and that it was madness to sell out now. He declared that it would ruin the credit of the Brandon Bank if it were known that we sold out at such a fearful sacrifice, and advised me to raise the money at a less cost.
"Well, I could only think of Smithers & Co. I went to their office. They were all away. I saw one of the clerks who said they had gone to see about some Russian loan or other, so there was nothing to do but to go back to the broker. He a.s.sured me again that it was an unheard of sacrifice; that these very stocks which I held had fallen terribly, he knew not how, and advised me to do any thing rather than make such a sacrifice. But I could do nothing. Gold was what I wanted, and since Smithers & Co. were away this was the only way to get it."
"Well!" cried Potts, eagerly. "Did you get it?"
"You saw that I got it. I sold out at a cost that is next to ruin."
"What is it?"
"Well," said John, "I will give you the statement of the broker," and he drew from his pocket a paper which he handed to the others. They looked at it eagerly.
It was as follows:
100 shares California @ 1000 each. 65 per cent, discount........................35,000 50 shares Mexican. 75 per cent, discount 12,500 50 shares Guatemala. 80 per cent, dis- count ................................ 10,000 50 shares Venezuela. 80 per cent discount 10,000 ------- 67,000
The faces of Potts and Clark grew black as night as they read this. A deep execration burst from Potts. Clark leaned back in his chair.
"The bank"s blown up!" said he.
"No, it ain"t," rejoined Potts.
"Why not?"
"There"s gold enough to pay all that"s likely to be offered."
"How much more do you think will be offered?"
"Not much; it stands to reason."
"It stands to reason that every note which you"ve issued will be sent back to you. So I"ll trouble you to give me my sixty thousand; and I advise you as a friend to hold on to the rest."
"Clark!" said Potts, "you"re getting timider and timider. You ain"t got any more pluck these times than a kitten."
"It"s a time when a man"s got to be careful of his earnings," said Clark. "How much have you out in notes? You told me once you had out about 180,000, perhaps more. Well, you"ve already had to redeem about 75,000. That leaves 105,000 yet, and you"ve only got 67,000 to pay it with. What have you got to say to that?"
"Well!" said Potts. "The Brandon Bank may go--but what then? You forget that I have the Brandon estate. That"s worth two millions."
"You got it for two hundred thousand."
"Because it was thrown away, and dropped into my hands."
"It"ll be thrown away again at this rate. You owe Smithers & Co."
"Pooh! that"s all offset by securities which I hold."
"Queer securities!"
"All good," said Potts. "All first-rate. It"ll be all right. We"ll have to put it through."
"But what if it isn"t all right?" asked Clark, savagely.
"You forget that I have Smithers & Co. to fall back on."
"If your bank breaks, there is an end of Smithers & Co."
"Oh no. I"ve got this estate to fall back on, and they know it. I can easily explain to them. If they had only been in town I shouldn"t have had to make this sacrifice. You needn"t feel troubled about your money.
I"ll give you security on the estate to any amount. I"ll give you security for seventy thousand," said Potts.
Clark thought for a while.
"Well!" said he, "it"s a risk, but I"ll run it"
"There isn"t time to get a lawyer now to make out the papers; but whenever you fetch one I"ll do it."
"I"ll get one to-day, and you"ll sign the papers this evening. In my opinion by that time the bank"ll be shut up for good, and you"re a fool for your pains. You"re simply throwing away what gold you have."
Potts went down not long after. It was the fourth day of the run.
Miscellaneous callers thronged the place, but the amounts were not large. In two hours not more than five thousand were paid out.
At length a man came in with a carpet-bag. He pulled out a vast quant.i.ty of notes.
"How much?" asked the clerk, blandly.
"Thirty thousand pounds," said the man.
Potts heard this and came out.
"How much?" he asked.
"Thirty thousand pounds."
"Do you want it in gold?"
"Of course."
"Will you take a draft on Messrs. Smithers & Co.?"
"No, I want gold."
While Potts was talking to this man another was waiting patiently beside him. Of course this imperative claimant had to be paid or else the bank would have to stop, and this was a casualty which Potts could not yet face with calmness. Before it came to that he was determined to pay out his last sovereign.
On paying the thirty thousand pounds it was found that there were only two bags left of two thousand pounds each.
The other man who had waited stood calmly, while the one who had been paid was making arrangements about conveying his money away.
It was now two o"clock. The stranger said quietly to the clerk opposite that he wanted gold.