By this time Duncan began to wonder what had happened to Tandy, in a financial way, just as Hallam had done.
"Wonder where he has been putting his money," he thought. "For surely he had plenty of it a little while ago. He's been buying property along the new railroad, but that isn't sufficient to tie up a man of Tandy's wealth. Something must be the matter. I must be cautious."
"I'll put up a hundred thousand in Memphis and Ohio River stock——" began Tandy.
"You know I can't consider that," said Duncan; "no sane banker could. But if you choose, the bank will accept stock in your coal mine—reckoned at fifty cents on the dollar—as security."
"That's out of the question. I'm negotiating a sale of my interests there, and it would embarrass me to have the stock hypothecated just now."
"Very well, then. What do you propose to do? Of course you have a large block of stock in this bank. Why not put that up as security, and give yourself all the time you need? Or if you don't want to hypothecate the stock with this bank, you can arrange a loan on it with Stafford or Hallam."
Tandy hesitated for a time before answering. At last he said:
"I've only thirty-three shares left. Why shouldn't the bank buy it outright, putting the loan in as a principal part of the purchase money?"
"At what price will you sell?"
"At 103. It's worth that and more."