These creditors gave me a release on debts amounting to over a million
dollars. But there were the two minor creditors who wouldn’t sign off.
One of them was the eight-hundred-dollar man I told you about. I also
owed sixty thousand dollars to a brokerage firm which had gone into
bankruptcy, and the receivers, who didn’t know me from Adam, were on
my neck early and late. Even if they had been disposed to follow the
example set by my largest creditors I don’t suppose the court would
have let them sign off. At all events my schedule of bankruptcy
amounted to only about one hundred thousand dollars; though, as I said,
I owed well over a million.
It was extremely disagreeable to see the story in the newspapers. I
had always paid my debts in full and this new experience was most
mortifying to me. I knew I’d pay off everybody some day if I lived,
but everybody who read the article wouldn’t know it. I was ashamed to
go out after I saw the report in the newspapers. But it all wore off
presently and I cannot tell you how intense was my feeling of relief to
know that I wasn’t going to be harried any more by people who didn’t
understand how a man must give his entire mind to his business--if he
wishes to succeed in stock speculation.
My mind now being free to take up trading with some prospect of
success, unvexed by debts, the next step was to get another stake. The
Stock Exchange had been closed from July thirty-first to the middle of
December, 1914, and Wall Street was in the dumps. There hadn’t been any
business whatever in a long time. I owed all my friends. I couldn’t
very well ask them to help me again just because they had been so
pleasant and friendly to me, when I knew that nobody was in a position
to do much for anybody.
It was a mighty difficult task, getting a decent stake, for with the
closing of the Stock Exchange there was nothing that I could ask any
broker to do for me. I tried in a couple of places. No use.
Finally I went to see Dan Williamson. This was in February, 1915. I
told him that I had rid myself of the mental incubus of debt and I was
ready to trade as of old. You will recall that when he needed me he
offered me the use of twenty-five thousand dollars without my asking
him.
Now that I needed him he said, “When you see something that looks good
to you and you want to buy five hundred shares go ahead and it will be
all right.”
I thanked him and went away. He had kept me from making a great deal of
money and the office had made a lot in commissions from me. I admit
I was a little sore to think that Williamson & Brown didn’t give me a
decent stake. I intended to trade conservatively at first. It would
make my financial recovery easier and quicker if I could begin with a
line a little better than five hundred shares. But, anyhow, I realised
that, such as it was, there was my chance to come back.
Public-domain text, read in full here on John Shaqi.
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