The daily telegram. [volume] (Clarksburg, W. Va.) 1901-1926, 1912-08-22
~ MeIgilIe Da1isson Post
copyrighl b. Edward J. Clode


some papers on the library table. un.
covering legal document in its blue.
stin wrapper.
have got to sign this for him. .
he went on, "and then blow. ON my
fingers to warm them suppose. The
place here is decided to Emily. and
this property is all I have left.''
He took up the paper and handed
1t over to me. I read It carefully
through. It was a first mortgage ON
certain coal lands and mines Of the
Pittsburg vein in what is known as
the Fairmont region, securing a two.
Neutrality-suspicious. issue of bonds.
It was made by the Cruger Coal com.
pany to the lexington Trust company
as trustee.
"you see, courtlandt," the old gen,
deman went on by way Of explana-
ton, Il am the Cruger Coal company
president and all, with few friend.
~ dummies to make the corporation
valid. / owe this wolf two hundred
thousand dollars. He agrees to take
the bond issue for the debt. He might
as well takeia deed for the property.
It is worth perhaps forty thousand
dollars more than that; but he will
get It in.the end for the debt. A, deed
direct to him would be little bold
Just now, a bit like exacting smart
money, punitive damages for the loss
OF Emily"
He leaned over. got little flaming
twig from the fire, and relighted his
burned-out cigar with It. Then he
went on.
There is fragment Of unbelieye-
able history about that debt, Court
landti manufactured with the greatest
care by this wolf. Three years ago.
when knew only the exterior of the
man, he came to me and said that the
Midland and TideRater railroad wish.
ed to borrow about half a million. dol
lars, and that he was exceedingly
anxious to assist it to. obtain the
money; that the banks in New York
were short because Of the recent Janu.
airy payment Of dividends, but he was
advised that the Granite Mountain In.
surance Company at Montpelier had a
lot Of idle money. He was not ac-
quainted with the officers Of this COM
pany, but some one had told him that
-I-was born in Montpelier and that my
cousin, Senator Lapman, was, presi.l
dent Of the company. Perhaps ], would
give him letter of Introduction. Il
gave him a letter, saying that he was,
known to me and that he was man,
Of large financial relations, in fact,
rather friendly letter.
Business in New England is on a,
rather higher plane than one finds it
here. Ones word goes further. When!
ones father and grandfather are,
known, the value Of what one says is
also known. Well, this wolf took his
railroad man up there, presented his
letter and got the loan for him, pledg-
ing his word for the soundness of the
securities and, by strong inference,
pledging my word too. The insurance
company paid out four hundred thou
sand dollars, and took the bonds of the
railroad for one half-million Of dol
lars.
"Three months later the railroad
went into the hands of a receiver, was
sold, brought merely the value of the
receivers certificates, which the court
had issued to cover its operating ex-
penses, and the bonds were, of course,
worthless.
Senator Lapman came to me, and
went at once to the wolf. 1 told him
that the Granite mountain officials
had relied on his word and mine, that
he had guaranteed the security in per.
son before the board, and it must now
be made good. He replied that 1 was
quite right, he would make it wholly
good, but that he would have to Dor
row the money, as he had not so much.
to his credit. He asked me to wait
while he went across the street to his
bank. In a few moments he returned,
said the bank would loan him the
money on his personal note, but that,
to keep within its rules, the note
would require two names on 1t. He
could put his Office boy on, he said:
but If would indorse 1t, the transac-
ton would appear rather better.
II knew that he was perfectly good
for that sum, as good as the sub-treas-
ury, and at once said that I would
comply with his request
I'VE went together to the bank, an
officer made out a note, he signed it
and passed 1t to me. Inoticed that it
was in the form of joint note; but
1 remembered that banks often pre-
ferred obligations in that form and I
did not hesitate to sign it. Then, at
his request, the bank delivered the
money to me and went at once to
Montpelier and adjusted the natter
with the insurance company. forgot
the incident then, but remembered
how honorable the wolf was"
The old generals Jaw frightened on
the bitter word. He broke the cigar
in his fingers and threw the pieces in
to the fire.
"one morning, after Emily's cards