Brownsville herald. [volume] (Brownsville, Tex.) 1910-current, 1928-01-03

aThis morning there was q meeting
In Johnas Merriwether's office. That
was at ten o'clock. There was a
general agreement that there could
be no turning back. 1t would have
spelled ruin for several Of the men
including Borden-and financial
embarrassment ever TO Merriwether.
Merriwether was rather nasty about
the whole thing. He and Borden
never have been particularly friend
ly-instinctive antipathy, / suppose
you'd call il. There was a hint Of
mismanagement-No! not Of dis
honesty-of Encouragement. A bit
of acrid debate. But the result was
inevitable.
1T was decided that these men
should pledge a portion Of their
available personal fortunes to sup
ply the cash needed temporarily by
the company to tide yer the pres
ent crisis. Within a year they'll be
making a great deal Of money. But
this pressure is immediate-and
could be ruinous. The credit OF the
company-as a company-is exhaust
ed. But the personal fortunes OF
the stockholders were still available.
briefly, then, this is what hap
pened: at eleven o'clock this morn
ing. Merriwether and his associates
delivered to Peter Borden more than
$500, 600 worth of negotiable securi-
ties, largely, 7 understand, unregis-
tered government bonds. This was
in the nature Of a loan to them
selves. Borden was instructed, as
operating vice president, TO post
these as security with the First Ma
tional bank for n loan OF 100000
on behalf Of the corporation. Bor-
rowing cash on cash security. DO
you understand"
Eyes, sir"
Borden, as an individual. re-
ceipted Ia these men. as individuals,
for the bonds. They were turned
over to him before 10 Carmodv
leaned forward and focused his
beady ewes full on Terry's face
'ncw follow me in this. Terry: Peter
Borden should have gone immediate
" to the bank and either effected
that loan or placed those bonds in
his safety deposit pox."
ayes. sir"
"He did ueither." Carmody's face
was granite hard. "He did neither:
inexcusable carelessness, mind you.'
Silence. Bob did not yet under
stand, and he CROPPED for this thing
which had turned Carmody into q
steel spring.
"He was cngrossed IN his work
II was Saturday. He went back q
his desk-with 5000 900 worth o.
negotiable government bonds. Bonds
which can be handled almost a:
readily as money. He immersed him
self in his work all afternoon Ant
tonight, Bob Terry-tonight he too
those bonds home with him!"
His voice ceased-with the sudden
ness Of a blow. Bob half closed hi
eyes. He recalled a circumstance O
BordeE's homecoming; the small
tired man; the brief case; the greet
ing of Lois-and then Borden's triI
to the wall safe where he put some
thing.
Two hundred thousand dollars
Bob felt his heart pounding, Bust
ness worries-worries which had Civ
en- little horizontal lines in Pete
Borden's forehead. And 100000 o
other mems money reposed in hi
antiquated wall safe.
II did not occur to Terry to asl
how Carmody obtained this informa
ton. Ii was a silent tribute TO tn
man that he accepted statements a
facts. Carmody knew everything
Bob knew that Carmody's information
was accurate. His mind moved la
borously ahead; he wasn't yet &C
customed to quick thinking.
"Do you see what it means ?" Car
mody's voice came to him as from
a great distance, and he answere,
in u low. tense voice, I'll think so.
-Merriwether does not like Borden
He resents Borden's management o
affairs-the management which ha
caused him to invest more recklessl,
in anything else in his whole life
! understand that fully half Of tina
money is Merriwether's. Now, then
Terry, suppose-just suppose tina
those bonds were stolen? Suppos,
that on Tuesday morning, when Dor
den went 70 his safe. they had dis
appeared? Can you see what woul,
happen them"
Bob's eyes narrowed. He did see
And the thin voice Of John Carmod,
made the picture crystal clear.
THE bonds are gone. Two hun
bred thousand dollars worth. Toda,
is Saturday. The man who take
| them will have until Tuesday morn