"His movements have not been to my satisfaction for some time," said the Judge; speaking as though conviction had to force itself upon his mind.
"You should canva.s.s all he does with the closest care; and if your property lies in any degree at his mercy, change the relation as quickly as possible."
"Are you not prejudiced against him, Henry?" The Judge spoke in a deprecating tone.
"I believe, sir, that I estimate him at his real value; and I do most earnestly conjure you to set to work at once to disentangle your affairs if seriously involved with his. If you do not, he will beggar you in your old age, which G.o.d forbid!"
"I am far from sure that I can disentangle my affairs," said the Judge.
"There is nothing like trying, you know." Wallingford spoke in a tone of encouragement. "And everything may depend on beginning in time. In what way are you involved with him?"
It was some time before Judge Bigelow answered this direct question. He then replied,
"Heavily in the way of endors.e.m.e.nts."
"Of his individual paper?"
"Yes. Also of the paper of his firm."
"To an extent beyond your ability to pay if there should be failure on their part?"
"Yes; to three times my ability to pay."
Wallingford dropped his eyes to the floor, and sat for some time. He then looked up into Judge Bigelow"s face, and said,
"If that be so, I can see only one way for you."
"Say on."
"Let no more endors.e.m.e.nts be given from this day forth."
"How can I suddenly refuse? The thing has been going on for years."
"You can refuse to do wrong on the plea of wrong. If your name gives no real value to a piece of paper, yet accredits it in the eyes of others, it is wrong for you to place your endors.e.m.e.nt thereon. Is not this so?"
"I admit the proposition, Henry."
"Very well. The only way to get right, is to start right. And my dear, dear sir! let me implore you to take immediately the first step in a right direction. Standing outside of the charmed circle of temptation as I do, I can see the right way for your feet to walk in better than you can. Oh, sir! Let me be eyes, and hand, and feet for you if need be; and if it is not too late, I will save you from impending ruin."
Wallingford took the old man"s hand, and grasped it warmly as he spoke. The Judge was moved by this earnest appeal, coming upon him so unexpectedly; and not only moved, but startled and alarmed by the tenor of what was said.
"The first thing," he remarked, after taking time to get his thoughts clear, "if I accept of your friendly overtures, is for me to lay before you everything just as it is, so that you can see where I stand, and how I stand. Without this, your view of the case would be partial, and your conclusions might not be right."
"That is unquestionably so," Wallingford replied. "And now, Judge, if you wish my friendly aid, confide in me as you would a son or brother.
You will find me as true as steel."
A revelation succeeded that filled Mr. Wallingford with painful astonishment. The endors.e.m.e.nts of Judge Bigelow, on paper brought to him by Dewey, and of which he took no memorandums, covered, no doubt, from a hundred to a hundred and fifty thousand dollars! Then, as to the affairs of the Clinton Bank, of which Judge Bigelow was still the President, he felt a great deal of concern. The Cashier and Mr. Dewey knew far more about the business and condition of the inst.i.tution than anybody else, and managed it pretty much in their own way. The directors, if not men of straw, might almost as well have been, for all the intelligent control they exercised. As for Judge, Bigelow, the princ.i.p.al duty required of him was to sign his name as President to great sheets of bank bills, the denomination running from one dollar to a thousand.
Touching the extent to which these representatives of value were issued, he knew nothing certain. He was shown, at regular periods, a statement wherein the condition of the bank was set forth, and to which he appended his signature. But he had no certain knowledge that the figures were correct. Of the paper under discount over two-thirds was drawn or endorsed by Floyd, Lawson, Lee, & Co.
At the time Judge Bigelow began investing in mill property, he was worth, in productive stocks and real estate, from thirty to forty thousand dollars. He now estimated his wealth at from sixty to eighty thousand dollars; but it was all locked up in the mills.
The result of this first interview between the Judge and Mr. Wallingford was to set the former in a better position to see the character of his responsibilities, and the extreme danger in which he stood. The clear, honest, common sense way in which Wallingford looked at everything, and comprehended everything, surprised his old preceptor; and gave him so much confidence in his judgment and discretion, that he placed himself fully in his hands. And well for him was it that he did so in time.
CHAPTER XXIX.
In accordance with the advice of Mr. Wallingford, the first reactionary movement on the part of Judge Bigelow, was his refusal to endorse any more paper for his nephew, or the firm of which he was a member, on the ground that such endors.e.m.e.nts, on his part, were of no real value, considering the large amounts for which he was already responsible, and consequently little better than fraudulent engagements to pay.
A storm between the uncle and nephew was the consequence, and the latter undertook to drive the old gentleman back again into the traces, by threats of terrible disasters to him and all concerned. If Judge Bigelow had stood alone, the nephew would have been too strong for him. But he had a clear-seeing, honest mind to throw light upon his way, and a young and vigorous arm to lean upon in his hour of weakness and trial. And so Ralph Dewey, to his surprise and alarm, found it impossible to bend the Judge from his resolution.
Then followed several weeks, during which time Dewey was flying back and forth between New York and S----, trying to re-adjust the disturbed balance of things. The result was as Mr. Wallingford had antic.i.p.ated.
There was too much at stake for the house of Floyd, Lawson, Lee, & Co., to let matters fail for lack of Judge Bigelow"s endors.e.m.e.nts. Some other prop must be subst.i.tuted for this one.
The four months that followed were months of anxious suspense on the part of Judge Bigelow and his true friend, who was standing beside him, though invisible in this thing to all other eyes, firm as a rocky pillar. No more endors.e.m.e.nts were given, and the paper bearing his name was by this time nearly all paid.
"Right, so far," said Mr. Wallingford, at the expiration of the time in which most of the paper bearing Judge Bigelow"s name reached its maturity. "And now for the next safe move in this difficult game, where the odds are still against us. You must get out of this Bank."
The Judge looked gravely opposed.
"It may awaken suspicion that something is wrong, and create a run upon the Bank, which would be ruin."
"Can you exercise a controlling influence in the position you hold? Can you be true, as President of the Clinton Bank, to the public interest you represent?"
"I cannot. They have made of me an automaton."
"Very well. That settles the question. You cannot honorably hold your place a single day. There is only one safe step, and that is to resign."
"But the loose way in which I held office will be exposed to my successor."
"That is not the question to consider, Judge--but the right. Still, so far as this fear is concerned, don"t let it trouble you. The choice of successor will fall upon some one quite as facile to the wishes of Ralph Dewey & Company as you have been."
The good counsels of Mr. Wallingford prevailed. At the next meeting of the Board of Directors, the resignation of Judge Bigelow was presented.
Dewey had been notified two days before of what was coming, and was prepared for it. He moved, promptly, that the resignation be accepted.
As soon as the motion was carried, he offered the name of Joshua Kling, the present Cashier, for the consideration of the Board, and urged his remarkable fitness. Of course, Mr. Joshua Kling was elected; and his place filled by one of the tellers. To complete the work, strong complimentary resolutions, in which deep regret at the resignation of Judge Bigelow was expressed, were pa.s.sed by the Board. In the next week"s paper, the following notice of this change in the officers of the Bank appeared:
"_Resignation of Judge Bigelow._--In consequence of the pressure of professional engagements, our highly esteemed citizen Judge Bigelow, has found it necessary to give up the office of President in the Clinton Bank, which he has held with so much honor to himself since the inst.i.tution commenced business. He is succeeded by Joshua Kling, Esq., late Cashier; a gentleman peculiarly well-fitted for the position to which he has been elevated. Harvey Weems, the first Teller, takes the place of Cashier. A better selection, it would be impossible to make.
From the beginning, the affairs of this Bank have been managed with great prudence, and it is justly regarded as one of the soundest in the State."
"My dear friend," said the grateful Judge, grasping the hand of Wallingford, who called his attention to this notice, "what a world of responsibility you have helped me to cast from my shoulders! I am to-day a happier man than I have been for years. The new President is welcome to all the honor his higher position may reflect upon him."
"The next work in order," remarked the Judge"s clear-headed, resolute friend, "is to withdraw your investments from the cotton mills. That will be a slower and more difficult operation; but it must be done, even at a sacrifice. Better have fifty thousand dollars in solid real estate, than a hundred thousand in that concern."
And so this further disentanglement was commenced.
Winter having pa.s.sed away, Mr. Dewey saw it expedient to retire from the Allen House. By this time nothing more was heard of his Italian Villa.
He had something else to occupy his thoughts. As there was no house to be rented in S----, that in any way corresponded with his ideas, he stored his furniture, and took board at the new hotel which had lately been erected.