Capitalists and financiers -- Fiction; Psychological fiction
He figured briskly the while he waved adieu to his friends, who hurried
away, struck with their own predicament.
“You had better go on out to the house, father, and I’ll send some
telegrams.” (The telephone had not yet been invented.) “I’ll be right
out and we’ll go into this thing together. It looks like black weather
to me. Don’t say anything to any one until after we have had our talk;
then we can decide what to do.”
Cowperwood, Sr., was already plucking at his side-whiskers in a
confused and troubled way. He was cogitating as to what might happen to
him in case his son failed, for he was deeply involved with him. He was
a little gray in his complexion now, frightened, for he had already
strained many points in his affairs to accommodate his son. If Frank
should not be able promptly on the morrow to meet the call which the
bank might have to make for one hundred and fifty thousand dollars, the
onus and scandal of the situation would be on him.
On the other hand, his son was meditating on the tangled relation in
which he now found himself in connection with the city treasurer and
the fact that it was not possible for him to support the market alone.
Those who should have been in a position to help him were now as bad
off as himself. There were many unfavorable points in the whole
situation. Drexel & Co. had been booming railway stocks—loaning heavily
on them. Jay Cooke & Co. had been backing Northern Pacific—were
practically doing their best to build that immense transcontinental
system alone. Naturally, they were long on that and hence in a ticklish
position. At the first word they would throw over their surest
securities—government bonds, and the like—in order to protect their
more speculative holdings. The bears would see the point. They would
hammer and hammer, selling short all along the line. But he did not
dare to do that. He would be breaking his own back quickly, and what he
needed was time. If he could only get time—three days, a week, ten
days—this storm would surely blow over.
Public-domain text, read in full here on John Shaqi.
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