Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1911-07-10


| hand resting lightly upon his shoulder.
and stared at Pellman with frank i'm
perttnence. Her attitude angered him
"Breedr he again commanded sharp
~.
"wellT" asked Breed alphabetically.
You must listen To me-" insisted
Pellman. Half a dozen times under
emergency you have come to the front
and helped to smooth things out Onca
you even saved the government Now
we have a worse condition than aug
that has ever confronted US. The
whole country is going to smash The
Stock Exchange will be swept out Of
existence before, the weeks end.
There Will be more bank failures than
have ever occurred in the United
States IN any one year. Breed, you
must do something. I am not going
away from here until you 6,S Call of
your absurd cash oraIn, annOuncs ir
to the public and so with US TO bolster
up the market"
Breed looked around him slowly, and
his eye caught that of DR.. Zeiphan-
'HTake me away" said he. 81 am tired
Lillian"
side, took his arm and started toward
the door on the other side of the fire.
place. the girl supporting his other
arm.
"Wait!' almost shrieked PeIlman.
You are not so i'll that you cannot
talk this matter over. You were well
enough just now TO put the screws on
some concern unlucky enough to be
under your thumb. Listen to mer
Breed only FASTENED his shutting
footsteps. PeIlInan strobe after them,
but just as they reached the door DR..
Zelphan opened it, and the girl cast
back at Pellman a glance of derision
from her dark eyes She took Breed
into the room beyond. and as the door
closed behind her she laughed an inso-
lent laugh of amusement
Zelphan stood before the door. II
told you just how it would be-" he
declared. THE man is in no condition
to talk business and must not be both
cred again"
Pellman left the house Tuning. and
his i'll humor was In no degree lessen
ed when he saw two figures crossing
the glade armed with golf sticks. They
were some distance away. but he was
sure they were the doctor and Henry
Breed.
Overnight, merely from the impetus
of their descent, stocks went down not
less than fifteen points. Every newspa-
per in the United States fairly dripped
with sensational stories based upon
the fact that there was no money in
Banks guarded their cash
reserves with life and death despera-
ton. Men who had been about to pay
small bills kept the money IN their
pockets, and a universal stagnation set
in In another day arrangements were
made in a dozen cities to issue clear
ing house certificates to take the place
of money. In the meantime pandemo-
mum had foreclosed its long overdue
mortgage upon the New York Stock
Pellman that day sat in his Office
until nearly II o'clock. receiving by
telephone the reports Of the slaughter.
Suddenly he found that he had no
friends Of influence. Two days before
he could have secured almost unlim-
tied backing; today no one had money.
and there was no such thing in exist
ence as a negotiable security. Only,
one thing could help him-a restora-
ton of the public confidence and a
immediate recovery in the
price OF stocks; and this only one thing
could bring ebout-an announcement
by Breed that no more cash would be
from circulation. and that
some of that already retired would be
put back into the active channels OF
trade. He hurried over to the New
Jersey offices of the United Food com.
pany. He found Ashburn in his pri-
vate Office, watching the ticker ribbon
with much interest, but before they
had even exchanged greetings he him