, 1890-01-24

be as favorable as they have been this
last year."
"We must take things as they come,
of course; but when the sun shines, it's
the time 10 make hay"
81 hope you will make plenty Of it,
and be ready for shower, if that should
come"
Trust me for that. l know what I'm
about. You'd better follow my exam
pie"
"How, move into a larger store?"
Eyes; take this one which l am about
to leave"
John shook his head.
at is too large for me" he said. 81
am not yet ready to enlarge my opera
tons beyond my present limit"
"Well, it's good advice I'm giving
you, whether you take it or not"
Eve no doubt you think so. Stephen.
1 hope you will meet with no reverses to
shake your faith in your motto"
So the two cousins again separated,
and each continued to do business in his
own way. Not only did Stephen in
crease his business expenses by occupy
ing a store at a higher rent, requiring an
additional number of clerks, but he also
moved into a larger house and set up a
carriage.
But circumstances still favored Ste
phen. The rise in price continued, though
not to as great an extent, and his stock
being larger, he cleared another five
thousand pounds. He began to think of
himself a. destined to be lucky, and in
no danger of any reverses. But at the
end of the third year, which was less
favorable. he barely held his own. Still,
he was worth fifteen thousand pounds.
h tide had turned, and he should have
taken in sail. But this he saw no neces-
sity for doing. So for two years longer
he kept on his way. In that time goods
fell very considerably. His stock was
very large, and his losses also very large.
His property had shrunk to eight thou
sand dollars, while Johns had increased
to nine thousand, and he was now the
richer of the two. John now felt author
lied in renting a somewhat larger shop,
while Stephen remained in his own.
shall not be able, nor would it be in
teresting, to detail the varying fortunes
of the succeeding years. Suffice it to
say, that at the end of ten years John
was worth fifteen thousand pounds, and
was carrying on a safe and profitable
business. Stephen found himself at a
point where failure was inevitable unless
he could obtain the immediate use of ten
thousand pounds. His personal extrava-
gance and ill judged expansion may ac-
count for this.
In this dilemma he bethought himself
of his uncle He made his way to the
well known counting room, and was
shown into Mr.. Lingard's private room.
81 hope everything is going well,
Stephen" said the merchant.
80 yes" said Stephen, THAT is, pretty
well. But, to tell the trSth, I'm in a
tight place just at present."
Indeed; I'm sorry to hear it."
You see my operations are pretty
large, and l am afraid l shall ave to.
suspend unless l can raise ten thousand
pounds within q week."
That's a large sum-"
"Well, my business is large"
"What do you estimate your stock at?''
Twenty thousand pounds"
'"Will ten thousand pounds set you
free entirely?'
mo" said Stephen reluctantly. ~
have bills to the amount of eight thou
SoAN t'AS AhoNuhAA5 III IA hlOilluS.
"Deducting the proper margin, it is
doubtful if your assets equal your liabili-
ties"
"a loan of ten thousand pounds would
give me a chance to right myself. Will
you come to my help, Mr.. Lingard?"
The old gentleman shook his head.
Cranky, no. l resolved when l start
ed you in business to leave you to your
self without further help. Observing
how you started, 1 foresw how things
would turn out. You have held out
longer than l anticipated"
"Then what am 1 to do, sir?' asked
Stephen, gloomily.
Il advise you to call your creditors
and make a frank statement. If they
allow you to go on, contract your opera
tions, take a smaller store, and begin
over again. If you prefer, however, 1
will give you Il clerkship at five hundred
pounds salary. L presume my partner
will not object"
"Your partner, sir? Have you taken
one?'
Eyes, 1 find 1 am getting old and need
rest"
MAY l ask who he isl"
at is John Warren"
Stephen sprang to his feet in amaze
ment, anger and envy. John Warren to
be placed so far above his head!
"Why is this?" he asked in an un
steady voice.
at is because John Warren is a good,
reliable business man. Had you shown
the same good. judgment, sagacity and
moderation l should nave taken you
also into partnership; but l tell you
frankly, l cannot trust my business in
your hands"
Stephen left the office abruptly, angry
and mortified. He was glad eventually
to accept the clerkship, being utterly
wrecked in business. John Warren i:
at this time, his uncle being deceased
the head of the great firm, and a very rich
man. Stephen is a disappointed man
but he has only himself to thank for it
-Horatio Alger, Jr., in Yankee Blade.
Population In the South.