The morning Astorian. [volume] (Astoria, Oregon) 1899-1930, 1906-09-09


now concern myself What I ask Il
that you secure the bank for that loan
which still stands. When that IL don,
Mr. Lcftwich VIII return this paper 4
you. In the meanwhile I place II In
bis hands"
REALLY, Mfr. Duncan"--for since The
early part Of that mornings interview
Tnndy Ind not yentured again upon
the familiarity Of addressing Duncan
without the "AIr,"--'rcally, Mr.. Dun.
can, you are pressing inc too hard. You
must give inc few days.
How can ~ The law would hold
me at fault II should allow the banl.
to close today with that loan unsecured
s--TTs - ism 10 siS- you time"
"xc. *: ysIpetct,isg me"
mo, ! am not. II were minded Ia
do that should call the loan In at
once. AZ It Is, | only ask you--as !
must--to secure II as the law requires.
! Will accept any fairly good collateral
you may have 10 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
purpose"
Il VIII accept your insurance stock"
"I'ye parted with that"
"Well, as certainly have no dIsposl.
ton 10 be hard upon you. I'll accept
your stock IN the Atlantic and MissIs-
sippI Steamship company. or even your
Mississippi Valley Transportation com
pany stock, though neither can be reck.
oned a first class security"
1--WE sold out Of both companies" ("
answered Tandy
By this time Duncan began to won
der what had happened TO Tandy, In
financial way. just as Hallam had
done.
Wonder where he has been putting
his money" he thought, FOR surely he
had plenty OF II a little while ago.
He's been buying property along the
new railroad, but that isn't sufficient
TO tie up man OF Tandy's wealth
Something must be tie matter. must
be cautious"
I'll put up hundred thousand In
Memphis ana Ohio River stock be.
gan Tandy
"You know ! can't consider that, "
said duncan NO sane banker could.
But, II you choose, the bank will ac-
cept stock In your coal mine, reckoned
at 90 cents on the dollar, as security"
That's out OF the question. I'm ne.
gotlating sale of my interests there,
and II would embarrass me to have the
stock hypothecated just now"
'Very well, then. What do you pro.
pose to do? or course you have a
large block OF stock In this bank. Why
not put that up AS security and give
yourself all the time you needf Or, IL
you don't want to hypothecate the
stock with this bank. you can arrange
q loan on II with Stafford or Hallam."
Tandy hcsltated for time before
answering AT last he said:
ave only thirty three shares left.
Why shouldn't the bank buy II out
right, putting the loan in as principal
part of the purchase money"
"At what price win you sell?"
AT 1903. It's worth that and more"
"l'll consider the offer. Come back
In IN hour for your answer"
Duncan sent at once for Hallam and
Stafford, as the principal stockholders
In the bank, other than Tandy. and told
them all TINT had happened. They ad-
vised the purchase. but suggested le2
As the price, aud an hour later Napper
Tandy ceased 10 be Il stockholder in
the y National baak.
4 day or two later Stafford learned
that by this sale Of his bank stock
'Tandy had practically parted with the
last Investment he had in any Cairo
enterprise.
lie greatly wondered at that, and us
he sat with Duncan and Hallam in
IIallam's parlor that night the three
hdulged in many conjectures concern
Ing Tandy and his plans. The only
conclusion they arrived at was eX-
pressed by Captain Win:
Hes up to mischief of some sort.
We must watch him."