Iowa County democrat. [volume] (Mineral Point, Wis.) 1877-1938, 1888-02-17
CHAPTER XII.
THE BEGINNING OF rHE END,

+ w estern securities or Western credits went
down one after another. No class was safe
at a time when the relations of debtor ami
creditor were SO complicated and SO uuiver-
sal Stocks went down with run Trillion
was not disappointed in his calculations, and
Trainor. in spite of his insane whims
upon the subject of chances, proved
himself shrewd, viSilant, and energetic
Flushed with success, he made holder ven
lures, and the daily balances grew to he
enormous Within the first fortnight Tri!-
lion had given Trainor notes for over g., 900
dollars as his share of the profits, The brok-
ers even, were astonished at the silent but
all-powerful influence that pressed upon the
market, bringing the best stocks down till
| they sold like damaged goods at a sheriff's
auction. But Sponsor, the lucky agent, kept
| his counsel Daily he attended the sales at
the board, with apparently eNhaustleSs re-
sources, bearing pitilesSly, triumphantly,
until the unlucky bulls came to think the
sight of his face was an i'll omen.
OF all men, Norcross felt his steady, deter
mined pressure most keenly. To sustain the
credit of those in whose affairs he was con-
! cerned, he was obliged from time to time 10
put under the hammer stocks which had keen
placed in his hands Every sale showed the
value Of these securities to be sinking, unit is
really seemed that they would come to be
as worthless as the old Confederate currency.
But neither be nor other sufferers had any
remedy; stocks were worth only what they
would bring; prices must take care of them
selves; and the calm, determined bids Of
| Sponsor were like the voice of Fate
In his extremity, NorcroSs thought of
Jameson, and remembering his own per-
sonal responsibility for the sum he had re-
celved, he determined to hedge" SO he
sent for Jameson, he showed him the notes.
all amply secured, if any mans name could
be said to give security.
you see," said NorcrosS, chow careful |
have been. Two good names on every note
They may fail, it is true. So stocks may go
for song, and universal bankruptcy follow.
See, there is note signed by Flint, Steel &
CO., and indorsed by Lameduck-another by
Ktefiyer q Co, Endorsed by Burntwick-
and this by Griesmann & Star, indorsed by
Trillion. Every dollar will yield at least the
eight per cent. promised"
"The names are good, l should think-as
long as everybody is good" said Jameson.
"Still | shall feel safer with O mortgage, or
even with stocks; for if these go Gown, they
will come up again"
/ "StocksI" said Norcross, with an air of
iDSES IA btilh IN}C Is NOFLn
that, swapping his fingers. They keep on
their legs only by sufferance; if put to the
test they could not redeem their notes a day.
The factories are worse yet-rotten, hollow.
Railroads-eaten up with ponds and mort
cages"
"Well, perhaps you have done wisely. Time
will show"
II sent for you p" said Norcross, because /
knew you must be anxious. | gave you a
part of the interest, you know. You'll take
these notes! You approve of my judy
mentf
II must, l suppose. Yes,-you can make
the transfers to me, if you like. They may
as well remain with you, however"
/ Norcross drew a long breath with a sense
of relief. If he were to be hard pushed these
notes would serve for collateral securities.
/ Jameson left the office; not quite so cheer
full as when he came. He remembered his
mothers regrets at the disposition of the
money, -their all. His own health had been
failing. His relative, whom he went to see,
was dead; and now that his cousin had ac-
cepted his invitation &c come and live with
him, he felt an increased solicitude about the
| future.
Norcross' main anxiety now was to pro-
vide for Griesmann's note which he felt as
! buTeu Lue pIOUllSeE tDuiu ItuU meet. he
dared not let the loss fall upon the Summit
until every expedient had been tried; for
such an affair would lead at once to an I'M
welcome investigation of the Company's &C
counts. He determined first to see Trillion,
to whom the note was due. He found that
gentleman cool, tranquil, and not at all
frightened, as he supposed he would be, at
the idea OF protest. The truth was, Trillion
had already made SO much in his operations,
that he could easily diff" the note: but as
long as his capital was yielding such golden
returns, he was not disposed 90 use it in that
way until obliged to do so. Besides, he be-
lieved, from Norcross' anxiety, that he
would himself make an effort to raise the
money elsewhere. He was quite easy, there
fore.
"Griesmann must look out for his own
paper; if he don't, he must go down. II /
have to pay it, / shall any way get a dividend
out of him, and, what is better, get few
days time. Time is money, these days"
| There was course for Norcross then, but
to sell or hypothecate the shares of stock he
held. Then the thought of the still falling
! prices frightened him. The stocks he had to
| sell were already quoted far below their
usual price, and he, in common with all the
street, had heard of the secret irresistible in
/ HueLce lhde was pedrIii4 uoWn upon the daily
sales If Sponsor should come into market
against him, the consequences might be ruin
Gus. 1t was out Of the question for him to
stand up against any further serious depreci-
alton.
To Sponsor he went, in the hope of per-
suading or buying him off from his destruc-
tive course. As he.entered the brokers' door he
saw Trainor hand over a package Of bills,
and just caught the words, HForty- five thous
and" What was Trainer doing? He re-
menbered that he had not met his old agent
for some days, and he knew well that such
schening brain would not be idle in time
like this A light flashed upon him. Was