"Yes, of course--provided Wharton Kendrick lives. But Wharton Kendrick
is likely to die. The question we have to consider is, What will his
note be worth in the Probate Court?"
"You see how it is," said Partridge, with the patient air of one
instructing a novice. "If you haven’t anything to pledge, why, an
assignment is the thing."
I faced my associates with the determination to yield nothing.
"I act on the assumption that Wharton Kendrick will get well," I
replied. "And if he gets well only to find that I have made a general
assignment of his business, how much further do you suppose he will
trust me with his affairs?"
"That’s all right for you," said Partridge. "But how shall we look when
we present our account to the syndicate and show that we have loaned one
of our members three hundred and fifty thousand without security? How
long do you think it would be before we got a chance to handle any more
of their money? We’d be waiting till the next day after never, I
guess."
The knot of circumstances seemed to be pretty firmly tangled, and I saw
no way but to cut it by a bold stroke.
"I don’t want to act without your consent--" I began.
"You have no right to act without our consent," interrupted Partridge,
with quick insight into my resolve.
"Right or not, I have the power. And you will be relieved of
responsibility if I pay the money without your consent."
"You wouldn’t do that!" cried Nelson and Partridge in a breath, their
faces showing signs of rising temper.
"I certainly shall do it before I see Wharton Kendrick’s notes go to
protest and a financial panic start in San Francisco."
Partridge and Nelson looked at me with concern and anger pictured on
their faces. But before either could speak, the door opened and William
T. Coleman entered.
"You’re just in time, Coleman," said Partridge explosively. "See if you
can’t put reason into this young man’s head."
"What’s the trouble?" asked Coleman, looking calmly at the flushed and
angry countenances before him.
Partridge and I attempted to explain our positions at the same time, but
Coleman picked out the facts from the confusion, and with a few tactful
questions had the situation clearly in his mind.
"The solution is very simple," he said. "Wharton Kendrick subscribed
five hundred thousand to the syndicate. Mr. Hampden will assign us
three hundred and fifty thousand out of that sum, and we shall be
perfectly protected."
Coleman’s plan was so logical and businesslike a way out of our
difficulties that I breathed a sigh of relief, and the anger of my
associates evaporated in a laugh at our stupidity in not thinking of it
for ourselves.
"How much does that leave in the fund?" asked Coleman, when I had taken
up the notes, and sent the clerk on his way.
"A trifle over twenty-three thousand."
"Gentlemen," said Partridge, rising with a theatric gesture, "the
syndicate retires from business. Thank Heaven it is striking three."
"And what of to-morrow?" I asked.
Public-domain text, read in full here on John Shaqi.
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