The morning news. [volume] (Savannah, Ga.) 1887-1900, 1896-12-20
BAD LUCK AND CREDITORS.
A LAWYERS STORY OF HIS UPS
AND DOWNS.
From Competence to Speculation,
Then to Ruin, With Time of
DOdging the Butcher and Grocer,
and Then Up Again.

and Then Up Again.
From the New York Times.
During a recess Of the court the lawyers
who were engaged in case that was
then on trial lunched together. Something
was said that recalled a period Of mis-
fortune in the life of one of the lawyers,
something about hard luck and creditors,
and he related an experience he had just
after the failure of the Cordage trust pool
in Wall street.
IL was fortunate during the early years
of my practice" he said, land accumu-
lated fortune that l thought would be
ample for all my future needs. l then
abandoned my profession, and, with my
wife, enjoyed several years in Europe.
When we came home it was by the way
of China, and after reaching San Francisco
we took our time and saw all that there
was to be seen in the west.
I'VE reached New York when the in
dustriaIs were fuctuating wildly on
Change and 'Cordage was making and
breaking people every few days. Some
of the insiders in 'Cordage had formerly
been my clients, and after a while
obtained inside information, and, follow
ing advice, purchased a block of shares
1t went up handsomely at first l want
ed to take my profit, but was dissuaded.
Not only was 1 dissuaded from selling. hui
l was persuaded to buy more on the pa-
per profit that l had. The stock kent
on advancing in price, and [ kent on buv-
ing. 1t was like finding money to buv the
stock at that time, and had a 'pyra-
mid of it-aE showing a profit
Or course, didn't sell. L was acting
on inside information, and so when the
crash came my pyramid, being on its
apex, toppled, and in day my profits and
all else that had went by the board-or.
in this case, on the board-and l had no
money but the few dollars that l had in
my pocket.
Il was broke, clean broke.
In taking account of stock, l found 1
had nothing left but reputation for hay
ing always paid my bills.
For some weeks l felt my position keen
ly not so much when was with my for
mer associates in speculation, for they
knew of my disaster, but when with the
tradesmen who still had faith in me felt
like confidence man. So strongly did
this feeling possess me that l stopped 60
ing to market and such places, and sent or
ders for all that we needed.
Il also changed my route to and from
the ferry, as wished to avoid passing the
tradesmen's stores-I didn't want to see
the men and didn't want them to see me-
even their wagons on the streets were
nightmares to me.
The overpowering feeling that owed
money and could not pay it was terrible for
time, but somehow as months passed
and my financial condition did not i'm
prove, I grew to feel less concern about
my unpaid bills and received them at the
end of each month with an unconcern that
might have been the outgrowth of a life
of deception.
After a failure through speculation
comes dismay; remorse follows this, and
then in time you get a feeling that the
world owes you a living, and that every
man who has anything was in some way
you do not try to determine how-in
some way interested in having you lose
your money, and that you are justified in
getting all that you can from him.
Il felt that way, and as nothing turned
up to relieve my financial condition. had
taken desk room with friend, and had
unsuccessfully tried to regain some of my
clients-I became Indifferent about month
" bills, and complacently let matters pro-
coed as the tradesmen seemed willing to
have them.
My wife worried over the unpaid bills
more than 1, and occasionally wondered
what the end Of it all would be. thought
l knew, but l did not have the heart to
tell her, and so let matters run along and
ally
She received the bills and placed them
before me at breakfast At first she tried
to get me interested in them from her
standpoint-the bills ought to be paid
but after one morning when she presented
me with bill for IS, and said it was
small matter, and the man could wait;
and then handed me one for 800, and
said it was a large matter, and the man
would have to wait she made no further
attempt to get the bills paid, but silently
performed her duty by placing them be-
fore me from time to time.
1T was at about the time my wife be-
gan to present the bills in silence that
felt an inclination to laugh whenever L
thought Of the rude awakening my credit
ors would have some day. and the expedi-
ton with which they would then place my
name in the commercial graveyard-the
profit and loss account.
Knowing that matters could not con-
unue as they were for a great while long
er' and feeling surprise that my credit had
Worn as well as it had. l took occasion
to absent myself from home at the hour
when collectors are most inclined to make
man miserable by demanding that which
they have but little hope Of getting when
they ask for It.
Il grew to look upon my situation as
ridiculous one, although why 1 did so
surely my creditors did not view IL as such.
AS time passed and the bills continued
70 Increase in amount 1 became more and
more Indifferent, and because my wife
wished the bills paid considered that
they had been paid and felt as well salts
ned as though / had receipts for them all.
This was all we'll enough so far as I
was concerned, but after my wife had de-
tached the bell from the wire that she
need not face the collectors In my absence,
and they had begun to waylay me IN the
street, / became convinced that / would
nave TO do something
On the FIRST day OF a certain month,
SnOut three months after my inability had
Deen made manifest to my creditors, who
Aad feared to cut off my supplies because
oi the sums / then owed them, a crisis
was reached, and / knew that that some
Ilhg would have 20 be done and done
AS l left the house that morning ]
found every one OF the tradesmen that
had treated me 50 kindly by supplying me
win provisions awaiting me before my
Woor. assumed the pleasantest manner
.llt was possible. greeted them warmly
WIN undertakings. and told them / pre-
"Hihcd ] knew why they were there and