“But why?” asked Joe. “You have collateral. The security is as good now as when they were given.”
“The personal liability is different,” replied Hagel, manager of the Commercial Bank. He was a stout, pompous, side-whiskered man of middle age, inclined to a solemnity of speech which partially cloaked an innate stupidity, and he held his position mainly because he did as he was told, without question. “Your father’s ability to pay was one thing; yours—you’ll pardon me—is quite another.”
“In other words, you don’t think I can run the business?” said Joe.
Hagel raised a protesting hand. “It is not what I think, Mr. Kent. My directors, in their wisdom, foresee a—er—a financial storm. We must shorten sail, Mr. Kent—hem!—yes—shorten sail. I regret the necessity, but——”
“All right,” Joe interrupted. “If you insist, of course I’ll have to take up the notes when they mature. To do that I’ll have to borrow money, and I don’t feel inclined to leave my account where I can’t get ordinary accommodation. I’ll go over to the Farmers’ National and see what McDowell will do for me.”
McDowell was manager of the latter institution, and the very antipodes of Hagel, who hated him. He was young, popular, brusque, and a thorough-paced sport after banking hours.
“I trust you won’t do that,” said Hagel, for the Kent account was a very valuable one. “You have other accommodation from us, and we have had your account for a long time.”
“That’s got nothing to do with it,” said Joe, who was developing a most disconcerting habit of going straight to the point. “You people are trying to keep the cream and make me hustle to sell skim milk. If you force me to hunt accommodation elsewhere not another dollar of my money goes through your hands. You’ll do what seems best to you, of course; but I want to know now where I am at.”
Hagel had lost some very good accounts which the Farmers’ National had subsequently acquired, and his directors had made unpleasant remarks. Although he was merely carrying out their instructions in this instance, he knew director nature well enough to realize that he would be blamed if the account were withdrawn.
“Better wait a few days, Mr. Kent,” he said. “I’ll put your views before my board, and I think it very likely the matter can be arranged—very likely indeed.”