"Oh, yes, that's good. Stafford will accept that as collateral if the bank is in a position to extend its loans. I'll go and see."
When he told Stafford what the situation was, that astute banker—who had been in many a financial fisticuff with Tandy—quietly said:
"I don't see why we should make the loan. Why not refuse it, and then have you offer to buy the stock outright at about par? He must sell, for if I have correctly sized up our friend Duncan, he'll never let up on his demand in this case. A man with a conscience like his simply can't let up in such a matter."
"That's the way we'll fix it," answered Hallam, with an amused twinkle in his eye. "He's obviously in need of a little more education at my hands, and he can afford to pay for it. I'll buy the stock at par—not a cent more. I suppose it's worth a hundred and three?"
"Yes—all of that, and it will be worth more presently under Duncan's management. What a fellow that is, anyhow!"
"I imagine Tandy thinks so by this time."
As there was no other bank in Cairo, and nobody else who could make a loan such as Tandy must have on the instant, he was simply compelled to make the sale on Hallam's own terms.
With Hallam's check in hand, he hurried to the X National, arriving there just in time to meet Guilford Duncan's demand.
Duncan received the check in the bank parlor, again insisting that Leftwich should be present at the interview.
"I'll take that paper, if you please," Tandy said, holding out his hand for it.