The Titan [210]
linen, with a white silk shirt of lavender stripe, and carrying a palm-leaf fan, seemed quite refreshed; his fine expanse of neck and bosom looked most paternal, and even Abrahamesque. His round, glistening pate exuded beads of moisture. Mr. Schryhart, on the contrary, for all the heat, appeared quite hard and solid, as though he might be carved out of some dark wood. Mr. Hand, much of Mr. Arneel's type, but more solid and apparently more vigorous, had donned for the occasion a blue serge coat with trousers of an almost gaudy, bright stripe. His ruddy, archaic face was at once encouraging and serious, as though he were saying, "My dear children, this is very trying, but we will do the best we can." Mr. Merrill was as cool and ornate and lazy as it was possible for a great merchant to be. To one person and another he extended a cool, soft hand, nodding and smiling half the time in silence. To Mr. Arneel as the foremost citizen and the one of largest wealth fell the duty (by all agreed as most appropriate) of assuming the chair--which in this case was an especially large one at the head of the table.
There was a slight stir as he finally, at the suggestion of Schryhart, went forward and sat down. The other great men found seats.
"Well, gentlemen," began Mr. Arneel, dryly (he had a low, husky voice), "I'll be as brief as I can. This is a very unusual occasion which brings us together. I suppose you all know how it is with Mr. Hull and Mr. Stackpole. American Match is likely to come down with a crash in the morning if something very radical isn't done to-night. It is at the suggestion of a number of men and banks that this meeting is called."
Mr. Arneel had an informal, tete-a-tete way of speaking as if he were sitting on a chaise-longue with one other person.
"The failure," he went on, firmly, "if it comes, as I hope it won't, will make a lot of trouble for a number of banks and private individuals which we would like to avoid, I am sure. The principal creditors of American Match are our local banks and some private individuals who have loaned money on the stock. I have a list of them here, along with the amounts for which they are responsible. It is in the neighborhood of ten millions of dollars."
Mr. Arneel, with the unconscious arrogance of wealth and power, did not trouble to explain how he got the list, neither did he show the slightest perturbation. He merely fished down in one pocket in a heavy way and produced it, spreading it out on the table before him. The company wondered whose names and what amounts were down, and whether it was his intention to read it.
"Now," resumed Mr. Arneel, seriously, "I want to say here that Mr. Stackpole, Mr. Merrill, Mr. Hand, and myself have been to a certain extent investors in this stock, and up to this afternoon we felt it to be our duty, not so much to ourselves as to the various banks which have accepted this stock as collateral and to the city at large, to sustain it as much as possible. We believed in Mr. Hull and Mr. Stackpole. We might have gone still further if there had been any hope that a number of others could carry the stock without seriously injuring themselves; but in view of recent developments we know that this can't be done. For some time Mr. Hull and Mr. Stackpole and the various bank officers have had reason to think that some one has been cutting the ground from under them, and now they know it. It is because of this, and because only concerted action on the part of banks and individuals can save the financial credit of the city at this time, that this meeting is called. Stocks are going to continue to be thrown on the market. It is possible that Hull & Stackpole may have to liquidate in some way. One thing is certain: unless a large sum of money is gathered to meet the claim against them in the morning, they will fail. The trouble is due indirectly, of course, to this silver agitation; but it is due a great deal more, we believe, to a piece of local sharp dealing which has just come to light, and which has really been the
There was a slight stir as he finally, at the suggestion of Schryhart, went forward and sat down. The other great men found seats.
"Well, gentlemen," began Mr. Arneel, dryly (he had a low, husky voice), "I'll be as brief as I can. This is a very unusual occasion which brings us together. I suppose you all know how it is with Mr. Hull and Mr. Stackpole. American Match is likely to come down with a crash in the morning if something very radical isn't done to-night. It is at the suggestion of a number of men and banks that this meeting is called."
Mr. Arneel had an informal, tete-a-tete way of speaking as if he were sitting on a chaise-longue with one other person.
"The failure," he went on, firmly, "if it comes, as I hope it won't, will make a lot of trouble for a number of banks and private individuals which we would like to avoid, I am sure. The principal creditors of American Match are our local banks and some private individuals who have loaned money on the stock. I have a list of them here, along with the amounts for which they are responsible. It is in the neighborhood of ten millions of dollars."
Mr. Arneel, with the unconscious arrogance of wealth and power, did not trouble to explain how he got the list, neither did he show the slightest perturbation. He merely fished down in one pocket in a heavy way and produced it, spreading it out on the table before him. The company wondered whose names and what amounts were down, and whether it was his intention to read it.
"Now," resumed Mr. Arneel, seriously, "I want to say here that Mr. Stackpole, Mr. Merrill, Mr. Hand, and myself have been to a certain extent investors in this stock, and up to this afternoon we felt it to be our duty, not so much to ourselves as to the various banks which have accepted this stock as collateral and to the city at large, to sustain it as much as possible. We believed in Mr. Hull and Mr. Stackpole. We might have gone still further if there had been any hope that a number of others could carry the stock without seriously injuring themselves; but in view of recent developments we know that this can't be done. For some time Mr. Hull and Mr. Stackpole and the various bank officers have had reason to think that some one has been cutting the ground from under them, and now they know it. It is because of this, and because only concerted action on the part of banks and individuals can save the financial credit of the city at this time, that this meeting is called. Stocks are going to continue to be thrown on the market. It is possible that Hull & Stackpole may have to liquidate in some way. One thing is certain: unless a large sum of money is gathered to meet the claim against them in the morning, they will fail. The trouble is due indirectly, of course, to this silver agitation; but it is due a great deal more, we believe, to a piece of local sharp dealing which has just come to light, and which has really been the