Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1918-06-19
CHAPTER XXI (Continued)
Copyfioht, 1918. bv Public Ledger Co.

I'LL day the lines sifted past the cash
y y ier's windows; all day money came
i = and notes went out, and all day the
( Telephones rang, money was offered, ac-
tommodations were proposed and hslf
I the financial district seemed wheedlng
= at the ears of Henry T. Archer But
y ha had a positive no" for all offers. a
ssno" that varied in courtesy as tn
Treatment of these same financial powers
had varied in courtesy to him during
: the week of stress through which he
had just passed.
The people have saved us. The peo-
pie shall carry our loans hereafter"
was the one unvarying element in his
answer.
But there's a big difference between
k.per cent and s."
IA big difference, yes. but l per
sent Is not too much to pay for inde-
pe:,dence and protection when there are
pirates like Willard Buckingham cruis-
ing around"
Willard Buckingham a pirate? And
10 denomlnated by one of Philadelphia's s
Aristocracy of manufacture to one of
Philadelphia's aristocracy of finance
Why. for years both these aristocracies
had whispered the name of Buckingham
with awe or fear if not with reverence.
Astonishing But, OF course, 1t wa
true that the man who had thus taken
one who had recently fought with him
and won the fight for There was now no
Doubt that the Archer popular loan had
proved an amazing success.
Money came and came. The next day
the number of subscribers had fallen orr
D little: the fever of the rush was over,
but the volume of subscriptions was
larger than ever for men with more
money were responding now and their
subscriptions came in considerable
sums.
that first day was that the run on the
Star of Liberty spread to other Buck
angham savings banks throughout the
city: and to, some of his commercial
banks also that were of a local or
neighborhood character. In fact. wher-
ever there was a bank with the name
Of buckingham appearing in the list of
officers or directors printed on the win
dow, it seemed to invite hostile attack
nom certain strata of society.
Nor was this feeling confined to the
workingmen and the small shopkeeper
class. Of bank depos'tors; 1t had its
counterpart in higher financial levels
In which were riffs and swirls of opn'
ion that criticized Buckingham harshly,
Tire result OF all this talk was series
of bad Gays for Buckingham Thef =
were many announced defections from
his support there was Withdrawing OF
accounts. the shifting Of DEPOSITS, and
the slit acle of men readjuSting their
own banking and credit to make them
selves secure from any such assault as
had been made upon the Archers. Even
the men who. had thoughtlessly partici-
patcd ip this one particular drive
egsiuSt the credit of a single firm now
saw the injustice and iniquity of 1t;
and fegan to realize that this power
held despotically. might some day be
hur ed against themselves.
The fact was that Buckingham's owl
ruthlessness had created a greater feel
ing of financial unrest than Philadel
phia had ever known except in time:
OF panic. Things reached their legiti
mate climax in proposals for the or
ganization of a new bank. with every
strong interest in the city outside o.
those affiliated with Buckingham sub
scribing stock in It. till it was openl.
boosted that the bank would open it:
doors with capital of five million an'
millions Of deposits Henry t. Archie
was to be elected one of the vice presi
I. dents. and the Peoples National was t
De the name of the new institution.
AZ for Buckingham, once the frs
!, heat of his rage was cooled. he fel
himself a very much injured party. ant
z watched the swiftly moving plans TO
the launching of the Peoples Nationa
ing gloomily on mans ingratitude L
man. Had he not always been faith
ful trustee? Had his ventures evel
lost a dollar for any man who intruste'
money to them? Had he not taken hi
nduciary responsibilities seriously. AM
maintained his position as financia
adviser with dignity and impartiality
fighting always the foes of vested wealtl
and Tending always the sacred cause o
the investor? To be sure. he had. Why
then, all this pother and captiouS criti
cism? Especially, why the cruel ant
ugly things they were saying about him
His wife was finding things unpleas
ant In social spheres and complained o
being all but snubbed by women who's
husbands Buckingham could buy twic
over with his yearly income Ruth, too
was unhappy. The girl did not say 81
hut the banker caught her watching hir
With sad eyes, and looking as If ther
was something on her mind of whic
she wished to speak but dared not 70
fear of having disagreeable fears cor
Armed.
It was all deucedly unpleasant, If an
one wished to know. AS a matter c
met, however, II appeared that no on
him how he did. except men who wer
under obligations to him or held the
pFosperity at his pleasure. Truth
TIL. Buckingham was not only havin
nt Of loneliness, but discoyerine; IN
peak of unpleasant eminence that mad
loneliness inevitable,
The feeling that somehow he had mi!
calculated, came to him at times, Coul
JhIs be possible? Had he, most careful
most calculating of men, had he SOM
how muddled things and got power will
out happiness? And was he to reali;
this just at the time, too, when he hs
boen humbled by discovering that h
power was ever so much less aosolu
than II seemed? Reflections like thes
tngether with his usual business respo'
e1bilities, kept the mind of Buckinghal
fhiriy busy until at last he decided
summoning Jerry Archer once more
his presence.
''The pipe of peace or a challenge
Darsonal combat =" The young mf
laughed when his secretary brought hi
the word that Mr., Buckingham wish
to see him; but responded to the /
yitation to call with his usual blal
ssaurance. He had successfully def
Y Mr. Buckingham and could afford
s. cavalier air Moreover, he had decid'
that he would seize this occasion
come out from behind the bush a,
3 boldly ask the man of millions for I
hand of his daughter in marriage.
After which, IL he says. No, l shi