The Titan [215]
"but the thing at present is immediate cash, and your loans are the largest and the most available. Do you think you can find the means to pay them back in the morning?"
Arneel blinked his keen, blue eyes solemnly, while the rest, like a pack of genial but hungry wolves, sat and surveyed this apparently whole but now condemned scapegoat and victim. Cowperwood, who was keenly alive to the spirit of the company, looked blandly and fearlessly around. On his knee he held his blue--banded straw hat neatly balanced on one edge. His full mustache curled upward in a jaunty, arrogant way.
"I can meet my loans," he replied, easily. "But I would not advise you or any of the gentlemen present to call them." His voice, for all its lightness, had an ominous ring.
"Why not?" inquired Hand, grimly and heavily, turning squarely about and facing him. "It doesn't appear that you have extended any particular courtesy to Hull or Stackpole." His face was red and scowling.
"Because," replied Cowperwood, smiling, and ignoring the reference to his trick, "I know why this meeting was called. I know that these gentlemen here, who are not saying a word, are mere catspaws and rubber stamps for you and Mr. Schryhart and Mr. Arneel and Mr. Merrill. I know how you four gentlemen have been gambling in this stock, and what your probable losses are, and that it is to save yourselves from further loss that you have decided to make me the scapegoat. I want to tell you here"--and he got up, so that in his full stature he loomed over the room--"you can't do it. You can't make me your catspaw to pull your chestnuts out of the fire, and no rubber-stamp conference can make any such attempt successful. If you want to know what to do, I'll tell you--close the Chicago Stock Exchange to-morrow morning and keep it closed. Then let Hull & Stackpole fail, or if not you four put up the money to carry them. If you can't, let your banks do it. If you open the day by calling a single one of my loans before I am ready to pay it, I'll gut every bank from here to the river. You'll have panic, all the panic you want. Good evening, gentlemen."
He drew out his watch, glanced at it, and quickly walked to the door, putting on his hat as he went. As he bustled jauntily down the wide interior staircase, preceded by a footman to open the door, a murmur of dissatisfaction arose in the room he had just left.
"The wrecker!" re-exclaimed Norrie Simms, angrily, astounded at this demonstration of defiance.
"The scoundrel!" declared Mr. Blackman. "Where does he get the wealth to talk like that?"
"Gentlemen," said Mr. Arneel, stung to the quick by this amazing effrontery, and yet made cautious by the blazing wrath of Cowperwood, "it is useless to debate this question in anger. Mr. Cowperwood evidently refers to loans which can be controlled in his favor, and of which I for one know nothing. I do not see what can be done until we do know. Perhaps some of you can tell us what they are.
But no one could, and after due calculation advice was borrowed of caution. The loans of Frank Algernon Cowperwood were not called.
Chapter L
A New York Mansion
The failure of American Match the next morning was one of those events that stirred the city and the nation and lingered in the minds of men for years. At the last moment it was decided that in lieu of calling Cowperwood's loans Hull & Stackpole had best be sacrificed, the stock-exchange closed, and all trading ended. This protected stocks from at least a quotable decline and left the banks free for several days (ten all told) in which to repair their disrupted finances and buttress themselves against the eventual facts. Naturally, the minor speculators throughout the city--those who had expected to make a fortune out of this crash --raged and complained, but, being faced by an adamantine exchange directorate, a subservient press, and the alliance between the big bankers and the heavy quadrumvirate, there was nothing to be done. The respective bank presidents talked solemnly of "a mere
Arneel blinked his keen, blue eyes solemnly, while the rest, like a pack of genial but hungry wolves, sat and surveyed this apparently whole but now condemned scapegoat and victim. Cowperwood, who was keenly alive to the spirit of the company, looked blandly and fearlessly around. On his knee he held his blue--banded straw hat neatly balanced on one edge. His full mustache curled upward in a jaunty, arrogant way.
"I can meet my loans," he replied, easily. "But I would not advise you or any of the gentlemen present to call them." His voice, for all its lightness, had an ominous ring.
"Why not?" inquired Hand, grimly and heavily, turning squarely about and facing him. "It doesn't appear that you have extended any particular courtesy to Hull or Stackpole." His face was red and scowling.
"Because," replied Cowperwood, smiling, and ignoring the reference to his trick, "I know why this meeting was called. I know that these gentlemen here, who are not saying a word, are mere catspaws and rubber stamps for you and Mr. Schryhart and Mr. Arneel and Mr. Merrill. I know how you four gentlemen have been gambling in this stock, and what your probable losses are, and that it is to save yourselves from further loss that you have decided to make me the scapegoat. I want to tell you here"--and he got up, so that in his full stature he loomed over the room--"you can't do it. You can't make me your catspaw to pull your chestnuts out of the fire, and no rubber-stamp conference can make any such attempt successful. If you want to know what to do, I'll tell you--close the Chicago Stock Exchange to-morrow morning and keep it closed. Then let Hull & Stackpole fail, or if not you four put up the money to carry them. If you can't, let your banks do it. If you open the day by calling a single one of my loans before I am ready to pay it, I'll gut every bank from here to the river. You'll have panic, all the panic you want. Good evening, gentlemen."
He drew out his watch, glanced at it, and quickly walked to the door, putting on his hat as he went. As he bustled jauntily down the wide interior staircase, preceded by a footman to open the door, a murmur of dissatisfaction arose in the room he had just left.
"The wrecker!" re-exclaimed Norrie Simms, angrily, astounded at this demonstration of defiance.
"The scoundrel!" declared Mr. Blackman. "Where does he get the wealth to talk like that?"
"Gentlemen," said Mr. Arneel, stung to the quick by this amazing effrontery, and yet made cautious by the blazing wrath of Cowperwood, "it is useless to debate this question in anger. Mr. Cowperwood evidently refers to loans which can be controlled in his favor, and of which I for one know nothing. I do not see what can be done until we do know. Perhaps some of you can tell us what they are.
But no one could, and after due calculation advice was borrowed of caution. The loans of Frank Algernon Cowperwood were not called.
Chapter L
A New York Mansion
The failure of American Match the next morning was one of those events that stirred the city and the nation and lingered in the minds of men for years. At the last moment it was decided that in lieu of calling Cowperwood's loans Hull & Stackpole had best be sacrificed, the stock-exchange closed, and all trading ended. This protected stocks from at least a quotable decline and left the banks free for several days (ten all told) in which to repair their disrupted finances and buttress themselves against the eventual facts. Naturally, the minor speculators throughout the city--those who had expected to make a fortune out of this crash --raged and complained, but, being faced by an adamantine exchange directorate, a subservient press, and the alliance between the big bankers and the heavy quadrumvirate, there was nothing to be done. The respective bank presidents talked solemnly of "a mere