The Union and eastern journal. [volume] (Biddeford [Me.]) 1854-1858, 1858-02-05

from one and dcpositiny in the other a
great many times every day, to indicate
active business, just as the doctor with
limited practice rides hurricdly about the
streets, to indicate the existence Of num-
erous pressing calls-the two banks gave
him certain line Of discount, about ten
cents ON the dollar of his wants. The
ninety per cent was raised 'on the street.
that is, through bill brokers who repre-
sented private money lenders Of unscrup-
ulous Bank officers. On this ninety per
cent, Virgins paid at the rate Of one 10
two-and-a-half per cent month, accord
ing the estimated value of paper or col.
lateral which he had to offer.
So affairs went on swimmingly with
Mr.. Joel Virgins. He was getting rich
fast-'hand over fist as he sometimes ele-
gantly expressed it. His bills receivable
and stock Of goods showed always large
surplusage over Bills payable.
With comfortable feeling consequent
upon the fact that money was being so
rapidly accumulated, Mr.. Wiggins and
Mrs. Wiggins, and Arminita Jane Wig
gins, the wife and Oldest daughter, natu
rally enough concluded that it was time
to live in a style better agreeing with
their position. So the modest comforta-
ble house in Buttonwood street, at three
hundred and fifty dollars year was CIV
en- up, and stylish affair beyond Broad
street rented at eight hundred per an
mum.
Now the mere increase Of rent from
three hundred and fifty to eight hundred
a year would not have been so serious a
matter, il the affair could have stopped at
the simple removal from Buttonwood
street to the West End. But that was
out of the question. The single item OF
new furniture was twenty-five hundred
dollars, and the annual increase of cxpen-
diture exclusive of rent, one thousand
Mrs. Wiggins and Araminta Jane, more
over, attempted the fashionable, and this
cost was somcthing-not dime less thar
another thousand dollars, for shawls, silk,
lace and Jewclry bills mount up wonder
fully fastl No, thousand dollars is be-
low the mark. 1t costs trilc to be
fashionable!
Next carriage, and next u country
house. They came naturally. A cottage
and garden, overlooking the Delaware
That was the climax,
Everything went on charmingly, Mrs.
Wiggins and Aaminta Jane were at
Newport last summer, bent on making a
sensation, and Mr.. Wiggins was in Phila-
delphia, taking care Of his payments,
which were heavy. Money all at once
grew little tight. Banks were unac-
commodating, and Mr.. Wiggins found
himself obliged to submit to sundry ter
rible hard shaves in order to raise the
wind. One day his bill broker could get
nothing on the paper he had to offer
So he was forced into Third street, where
on 'undoubted collateral, he raised two
thousand dollars for two days, at one per
cent a day.
On tho next day money was little
tighter. lie had five thousand dollars to
pay. lie got through only at terrible
sacrifice. On the next day following he
raised three thousand more to lit matur-
ing notes, but not enough to meet the
two thousand covered by coliaterals, on
which he was paying one per centa day.
That arrangement was continued for two
days longer.
Mr.. Wiggins began to feel little un-
easy. Plump on to one of his despond-
ing fits, after three o'clock hours, came a
letter from Mrs. Wiggins, asking for five
hundred dollars. Mr.. Wiggins crushed
the letter passionately, muttering, five
hundred devils" 1t was unamiablc and
unconjugal; but he was in trouble and
excited.
On the following day, Mr.. Wiggins
sent his wife one hundred and fifty dol
lars with directions to pay of her bills
and return with Araminta Jane immedi-
ately. Both she and Araminta Jane de-
INJURED, and scoldcd him soundly for his
niggardly response to their demand for
money. They did not mean to leave till
the close OF the season. But Mr.. Wig
gins was in earnest and he made them
comprehend in another letter. That
brought them off by the next boat for
New York.
Joel Wiggins was getting frightened.
The banks threw him out altogether, and
he was at the .mercy of the shaves. But
few country merchants had been in, and
few of them brought money. Sales were
light against an unusually large stock Of
goods, which could not be forced on the
market and sold for half their value
His country house had cost him ten thou.
sand dollars. lie mortgagcd it for five.
Tried a second mortgage for three thou