“Quite exciting times lately in Wall Street?” said Grinnell interrogatively, but obviously to make talk. “The people are going stock-mad. I suppose there will be a smash.”
“It is more than likely,” assented Mellen gravely. Had not Mr. Dawson been a bank president, with a professional lack of the sense of humour, he would have winked surreptitiously at his friend.
“Well, if it is only the stock gamblers who suffer, I won’t worry. But, possibly, small investors may become frightened by the decline in bonds and sell out. They would be foolish, of course. But I have sympathy for foolish people; a fellow-feeling, I suppose.” He smiled. Then, seriously: “Why, do you suppose, there’s been such a slump in bonds?”
“More sellers than buyers,” said Dawson, with a tentative grin.
“Ah!” The young man smiled at the timeworn Wall Street phrase; he had not heard it before. “But I think bonds are pretty cheap,” he persisted.
“They certainly look so,” assented Dawson.
“They certainly do,” echoed Mellen gravely.
“That means you are buying them,” said the young man with a sort of naive astuteness. Whereupon Dawson and Mellen congratulated themselves with glances. Grinnell went on: “I feel like doing the same thing. However, what I came to see you about is this: I promised not to deposit any more gold for a month in any bank in New York, didn’t I?”
“In the United States,” said Mellen quickly.
“I don’t think I promised that, but I’ll let it go at that. My promise certainly did not extend to banks in Europe.”