Iowa County democrat. [volume] (Mineral Point, Wis.) 1877-1938, 1888-02-10
CHAPTER TX.
WALL STREET.

The stringency of the money market began
to brighten even Mr. Norcross, who had
been predicting a panic. There had been
but few failures, and those were generally Of
houses that ought to fail, being insolvent
from losses or mismanagement. Mr.. Nor
cross studied over his sheet of bills payable
and receiv able almost hourly. The amount
intrusted to him by Jameson had been
loaned out: for which he was now very sorry,
as the rate of interest had nearly doubled
since he made the last agreement. This, how
ever, was but a small item in his accounts !;
other transactions of greater magnitude oc-
cupied his attention. As he looked over
the array of promisors and indorsers, he
said to himself, 81 am safe II these men
fail, it will be because the universal bottom
has dropped out and chaos come again.
If anybody is shaky, it is Griesrnann. He
believes, though, that Trillion will help
him through, and extend that note. Per-
haps he will. Perhaps, again, he will
have enough 70 do to keep on bis own
legs. He fancies himself strong because
he owns the most of the Neversink Mills
But he doesn't know what l know, that
Withstand, the treasurer of the Mills, is in
the street every day, looking like gambler,
when his last dollar is on the table. A few
more turns of the screw and down goes
Withstand. Who knows that the Mills won't
tumble, too, and Trillion after them; He
may go hang; but we must look after Cries
mann, and prop him, if necessary. That
twenty thousand IS more than we can afford
70 lose just now. Lucky, there he comes.
Mr.. Griesmann entered, not with his usual
smile, but with an expression like that of a
man trying to be jolly with the toothache.
A 81 -
showed to Norcross, that, If the twenty
thousand dollar note could he extended over
TO better times, Griesnann was safe. But
the note was soon due, and TriIlion might be
unable or unwilling TO renew; in which case,
the Summit would have IL meet it. That was
a Contingency 70 be provided against; for
Mr.. Norcross did not intend that the public
should know that the credit Of the company
had been used for private purposes by its
officers He therefore called in Mr.. Cleer-
skeigh, the President, and the affair was talk
ed over and settled between them
@One thing more" said Norcross- Sup
pose any one should get wind Of this- and
grow suspicious; -Triilion himself might be
foolish enough to let the cat out Of the bag
we might find the shares Of the Summit in
the market, and the bears running them
down to an uncomfortable figure
True enough. We must stop that
The only way is TO keep sharp lookout.
and if any Of the stock is offered, 10 buy it
up Half dozen Of US can take all that
viii be likely TO come into market"
How many shares do you own, NorcrossT
asked Mr.. Cleerskeigh, with a quizzicaI look
SIS this nice little scheme Of yours TO run
them of at pare It's shrewd dodge"
@You do me wrong said Norcross, with
look of wounded innocence Il merely
want 10 sustain the credit Of the COM
pany.'
-Oh, no doubt!' said the President swell,
we viii agree, then, not 70 le. the shares fall
below ninety, say II would be suspicious, !