The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1909-08-25

the lion In hts den-He sodrS-I Ofce
him food fer thought--Thc thermometer
rises once morc-They treat me srith
consideration at the bank.
s every one knows. the recovery
Of business from that awful fit
n of depression which followed
1898 was SLOW At times it
would seem that the country was ready
to throw OF its at Of sickness and be-
gin to grow again. Then there would
come along some new setback. and we
were oil In the dumps once more.
1t had been q great fight to keep the
Meat Products company afloat during
these hard times. 1t was all we could
do to pay our fixed charges. which
were heavy, a. most Of the concerns
that formed the corporation had de-
handed bonds in payment for their
properties before they would consent
to join Us. There was also Of course
q big issue of stock, preferred and
common, which by a mutual agreement
was not to be marketed for three
years. We had not yet come In sight
Of a dividend on this stock; hence there
were signs Of dissatisfaction among
the little fellows, who had expected
wonders Of the company. And the
time was fast approaching when they
would be at liberty to dump their stock
ON the market for what they could get
for 1t.
The Strauss crowd since their secret
attempt through the tool Frost and his
"syndicate" to thwart our plans had
hat tpn~ 40
well enough what was our financial
condition and were biding their time
to strike. But SO far, clear down to
the winter OF 1895, we had been able
to meet all interest charges promptly
and had thus kept the corporation from
foreclosure. That year, as the time ap-
preached for the March payment OF
interest on the bonds and sinking fund
requirement, 1t beca me evident that our
treasury would not be- able to meet
the sum required and that 1t would be
necessary for us to borrow for tho i'm.
mediate emergency. We already had
a good deal OF our paper out in Chico
60, and 50 Slocum and l went east to
raise what We needed. That was not
80 easy as It would have been In the
days when we could rely on Parsons
aid. But after considerable efforts we
got together in New York what was
needed for the emergency, and I left
for home That was the 14th Of Feb
ruary. I congratulated myself that
the danger was past. for I was sure
that, with the opening Of our new
plant in Kansas City and the constant
improvement in our business. we ought
to be beyond attack when the next
payment was due in the fall. After
that period we should be on the road
to dividends.
I had been at home a couple Of days,
my attention given to other matters Of
importance, when one morning notice
came from the Mercantile National
bank, where we did most OF our bust
ness, that some large notes were called.
We had over $25O.OOO in 'calr' loans
due that bank, and though during
these uncertain times we could not get
any long paper. the management Of the
Mercantile had been friendly to US
from the start, and I had no reason to
anticipate trouble In that quarter. But
when I went over to see the Mercan-
tile people I met with only a polite
and cool reception. The loans were
called. They must DO paid. Money
was hardening, and so on. 1t was q
granite wall, with Just AZ much hu-
man consideration in it as stone and
steel-and back I went to my Office
to think.
There was moro than the ordinary
bankers caution IN this sudden fnan-
cial frest, and whatever was the pow
er working against Us, it was strong
enough to close the doors Of credit
throughout the city. Wherever I went
those dreary two days. from bank to
bank, I was met with the same re-
fusal. Money was not to be had on
any terms. The word had gone out
that We were q doomed ship. and not
q bank would touch our paper. After
a second sleepless night made up
my mind to q desperate step, with the
feeling that II 1t failed the game was
up.
Al soon ~ I reached my ONCE on
the last day OF grace got old Strauss
himself on the telephone and asked for
an appointment He was gracious
enough when I reached his Office. 1t
was the cotdiality OF . hungry eaues
before q good meal
What can I do for you. Mr.. Har-
rington?' he purred-
cut into the meat Of the matter at
once.
"what are your termsr'
"Do you mean that you wish tn sell
your property p he asked indinerently.
mot q bit Of it :"
Then how can I help you, Mr.. HAr-
ringtony he inquired blandly.
"You can take your hand OF the
banks and let 10 get living"
He shrugged his shoulders deprecat-
ingiy. as II gave him credit for too
much power, and we had It out II
some length. He had no interest in the
Meat Products company. II the corpo-
ration went into the hands Of q re-
ceiver, he and bis friends might con-
slider buying 1t up. and be was willing
to discuss terms il We wished to deal
In q friendly manner before 1t reached
the courts. l tose n II to 60.
VERY well. Mr.. Strauss" I said dry
". you have made 1t impossible for