The Allen House; Or, Twenty Years Ago and NowArthur, T. S. (Timothy Shay)
General
The Allen House; Or, Twenty Years Ago and Now
Arthur, T. S. (Timothy Shay)
American fiction -- 19th century; Conduct of life -- Fiction
“That is unquestionably so,” Wallingford replied. “And now, Judge, if
you wish my friendly aid, confide in me as you would a son or brother.
You will find me as true as steel.”
A revelation succeeded that filled Mr. Wallingford with painful
astonishment. The endorsements of Judge Bigelow, on paper brought to him
by Dewey, and of which he took no memorandums, covered, no doubt, from a
hundred to a hundred and fifty thousand dollars! Then, as to the affairs
of the Clinton Bank, of which Judge Bigelow was still the President, he
felt a great deal of concern. The Cashier and Mr. Dewey knew far more
about the business and condition of the institution than anybody else,
and managed it pretty much in their own way. The directors, if not
men of straw, might almost as well have been, for all the intelligent
control they exercised. As for Judge, Bigelow, the principal duty
required of him was to sign his name as President to great sheets of
bank bills, the denomination running from one dollar to a thousand.
Touching the extent to which these representatives of value were issued,
he knew nothing certain. He was shown, at regular periods, a statement
wherein the condition of the bank was set forth, and to which he
appended his signature. But he had no certain knowledge that the figures
were correct. Of the paper under discount over two-thirds was drawn or
endorsed by Floyd, Lawson, Lee, & Co.
At the time Judge Bigelow began investing in mill property, he was
worth, in productive stocks and real estate, from thirty to forty
thousand dollars. He now estimated his wealth at from sixty to eighty
thousand dollars; but it was all locked up in the mills.
The result of this first interview between the Judge and Mr. Wallingford
was to set the former in a better position to see the character of his
responsibilities, and the extreme danger in which he stood. The clear,
honest, common sense way in which Wallingford looked at everything, and
comprehended everything, surprised his old preceptor; and gave him so
much confidence in his judgment and discretion, that he placed himself
fully in his hands. And well for him was it that he did so in time.
CHAPTER XXIX.
In accordance with the advice of Mr. Wallingford, the first reactionary
movement on the part of Judge Bigelow, was his refusal to endorse any
more paper for his nephew, or the firm of which he was a member, on
the ground that such endorsements, on his part, were of no real value,
considering the large amounts for which he was already responsible, and
consequently little better than fraudulent engagements to pay.
Public-domain text, read in full here on John Shaqi.
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