The true northerner. [volume] (Paw Paw, Mich.) 1855-1920, 1906-11-09
Bly,.
GEORGE
CARY
EGGLESTON


ana nobody else who could make a
loan such as Tandy must have on the
instant he was simply compelled TO
make the sale on Hallam's own terms.
With Hallam's check I'm hand he
hurried to the Y National, arriving
there just I'm time to meet Gullford
Duncan's demand.
Duncan received the check In the
bank parlor. again insisting that Left
witch should be present at the inter
view.
I'll take that paper, If you please"
Tandy said, holding out his hand for IL.
Not until you shall have adjusted
the other matter. The banks books
show that while you were still presl-
dent of the institution you made a
loan of $4,000 to yourself on your un-
secured note, without even an indorse-
ment. You know that In doing so you
violated the law you were sworn to
obey and enforce With that | do not
now concern myself What | ask is
that you secure the bank for that loan
which still stands When that is done
Mr.. Leftwlch will return this paper to
you. In the meanwhile | place it in
his hands"
Really. Mr.. Duncan"-for since the
early part Of that mornings interview
Tandy had not ventured again upon
the familiarity Of addressing Duncan
without the "MIr."-'really, Mr.. Dun
can, you are pressing me too hard. You
must give me a few days
How can ]? The law would hold
me at fault If | should allow the bank
to close today with that loan unsecured
have no right to give you time"
You are prosecuting me!'
mo, ! am not. If | were minded to
do that, | should call the loan In at
once. AS 1t is, | only ask you-as |
must-to secure it as the law requires.
| Will accept any fairly good collateral
you may have to offer. There Is surely
no hardship in that-nO persecution in
demanding that you shall temporarily
leave with the bank enough of the
bonds or stock certificates that you
hold In plenty to comply with the law
concerning loans by national banks |
have simply no choice but to insist
upon that"
But | tell you" answered Tandy,
that at present ! have no bonds or
stocks conveniently available for such
a purpose"
Il will accept your insurance stock"
I've parted with that"
We'll as | certainly have no DISPOSE
ton TO be hard upon you, I'll accept
your stock In the Atlantic and Missis-
slppi Steamship company, or even your
Mississippi Valley Transportation com
pany stock, though neither can be reck-
oned first class security"
I've sold out of both companies"
answered Tandy.
BY this time Duncan began to won
der what had happened to Tandy, in
a financial way, just as Halam had
done.
Wonder where he has been putting
his money he thought, for surely he
had plenty of 1t little while ago.
He's been buying property along the
new railroad, but that isn't sufficient
to tie up a man of Tandy's wealth.
OOlueluIlS must De Tue matter. must
be cautious"
I'll put up hundred thousand in
Memphis and Ohio River stock be-
gan Tandy.
You know l can't consider that"
said Duncan. "NO sane banker could
But, If you choose, the bank will ac-
cept stock in your coal mine, reckoned
at 80 cents on the dollar, as security"
That's out of the question. I'm ne
gotiating a sale of my interests there,
and IT would embarrass me to have the
stock hypothecated just now"
Very well, then. What do you pro
pose to do? OF course you have &
large block of stock In this bank. Why
not put that up as security and give
yourself all the time you need? Or, If
you don't want TO hypothecate the
stock with this bank, you can arrange
a loan on 1t with Stafford or Hallam."
Tandy hesitated for time before
answering. At last he said
i've only thirty three shares left.
Why shouldn't the bank buy 1t out