“As a member of the firm of Townley & Tamms,” said he, “I see nothing to do but to look over our customers’ margins and bear our own losses.” Charlie made a motion to go.
“Stay there, Mr. Townley,” ordered the old gentleman, “and learn once for all the traditions of the house of Charles Townley & Son. So, Mr. Tamms, a year after bringing out these bonds, with the ink hardly dry upon them, before the second coupon is cut, you propose that we who fathered them should stand by and see our clients and the public, who relied upon our recommendation and our name, deceived in both?”
“I don’t see what else we can do, sir. We are not the Starbuck Oil Company.” Tamms tried still to patronize; but Charlie marvelled that a man who seemed so large the day before with Deacon Remington should seem so small to-day before an angry old man with white hair who had outlived his business usefulness and sputtered when he spoke.
“I will show you, then. Mr. Townley, will you please take down this letter.” Charlie moved his chair to a table and wrote, while Mr. Townley dictated:
“Messrs. Townley & Tamms—regret that unforeseen circumstances—have caused an embarrassment in the affairs of the Starbuck Oil Company—but have decided to guaranty the coupons on the Terminal Trust bonds—until the property has been put upon a paying basis.—From those who prefer—Messrs. Townley & Tamms will take back the bonds sold by them—paying the price originally paid therefor, with accrued interest.”
“There, sir,” said Mr. Townley to Charlie, “you will have five hundred copies of that circular dated to-day and printed immediately. And Mr. Tamms, you will kindly see that a copy is mailed to every one of our correspondents and clients—or our partnership may end at once.”
“Certainly, sir,” said Tamms, calmly. “I presume you know what an amount of ready money this action may require?”
“No, sir, I do not,” said Mr. Townley.
“It may force us into liquidation,” said Mr. Tamms.
“Fiddle-de-dee,” said Mr. Townley, as he rose and left the office.