The Romance and Tragedy of a Widely Known Business Man of New YorkRussell, William Ingraham
General
The Romance and Tragedy of a Widely Known Business Man of New York
Russell, William Ingraham
Businessmen -- New York (State) -- New York -- Biography; Russell, William Ingraham
Our market was weak at eighteen cents, although not a pound could
now be imported below twenty-two cents. The large stock seemed to
hang as a wet blanket, but as a fact most of it was concentrated
in three strong hands. We were the largest holders. I called on
the other two and told them it was absurd to sell at the ruling
price, and if they would assure me we would not have to take their
stock--in other words, if they would hold it off the market--we
would buy the floating lots and advance the price close to the
importing point. I further offered to give them an equal share of
the purchases if they so desired. They asked how much I thought we
would have to buy? To which I replied, "Not over five hundred tons."
The agreement was made on the basis of an equal division of the
purchases. Slowly but steadily we raised the price, and when the
end we sought was accomplished we had bought four hundred and ninety
tons. The operation and consequent advance in the market made a
difference in the value of our holdings of seventy thousand dollars.
CHAPTER XXXIII
FAREWELL TO "REDSTONE"
All through the summer of 1893 we had been discussing the advisability
of leaving "Redstone" and taking up a permanent residence in New
York.
Our children were now at a period when good schools were imperative
for their proper education, and such did not exist at Knollwood.
Our social life was almost entirely with our New York friends, and
though two families of the "Immortal Ten" had become residents of
Knollwood they were to leave at the end of the term for which they
had rented. The Banfords occupied "Sunnyside," while George Lawton,
who had removed to Orange, rented his house to the Todds.
While we were fond of all the New York friends and especially so
of Will Curtice and his wife, for George and Charlotte Todd we had
a tender spot in our hearts that none of the others quite reached.
George, in a way, reminded me of my former friend, Frank Slater;
not that he resembled him in feature, but in his possession of a
charm of manner that won everybody with whom he came in contact.
Versatile, witty, and brilliant in his entertaining power, he was
easily the most popular man in our circle. Entering the employment
of New York's greatest life insurance company as an office boy,
he is today one of its vice-presidents, and this proud position is
the well-deserved reward of wonderful ability. His wife is one of
those sweet, pretty, clever women that everybody loves.
Ned Banford had met with disaster. He was one of many who were
unable to weather the panic. At the time of his failure he was
indebted to me five thousand dollars. A day or two before the event
he brought me a package of unset pearls which he valued at eight
thousand dollars and requested me to hold them as security.
Public-domain text, read in full here on John Shaqi.
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