Burning Daylight

by Jack London

And to another chief, who broke down under the excessive strain of retrenchment:—

"You say I can't do that and can't do this. I'll just show you a few of the latest patterns in the can-and-can't line. You'll be compelled to resign? All right, if you think so I never saw the man yet that I was hard up for. And when any man thinks I can't get along without him, I just show him the latest pattern in that line of goods and give him his walking-papers."

And so he fought and drove and bullied and even wheedled his way along. It was fight, fight, fight, and no let-up, from the first thing in the morning till nightfall. His private office saw throngs every day. All men came to see him, or were ordered to come. Now it was an optimistic opinion on the panic, a funny story, a serious business talk, or a straight take-it-or-leave-it blow from the shoulder. And there was nobody to relieve him. It was a case of drive, drive, drive, and he alone could do the driving. And this went on day after day, while the whole business world rocked around him and house after house crashed to the ground.

"It's all right, old man," he told Hegan every morning; and it was the same cheerful word that he passed out all day long, except at such times when he was in the thick of fighting to have his will with persons and things.

Eight o'clock saw him at his desk each morning. By ten o'clock, it was into the machine and away for a round of the banks. And usually in the machine with him was the ten thousand and more dollars that had been earned by his ferries and railways the day before. This was for the weakest spot in the financial dike. And with one bank president after another similar scenes were enacted. They were paralyzed with fear, and first of all he played his role of the big vital optimist. Times were improving.

Of course they were. The signs were already in the air. All that anybody had to do was to sit tight a little longer and hold on. That was all. Money was already more active in the East. Look at the trading on Wall Street of the last twenty-four hours.

That was the straw that showed the wind. Hadn't Ryan said so and so? and wasn't it reported that Morgan was preparing to do this and that?

As for himself, weren't the street-railway earnings increasing steadily? In spite of the panic, more and more people were coming to Oakland right along. Movements were already beginning in real estate. He was dickering even then to sell over a thousand of his suburban acres. Of course it was at a sacrifice, but it would ease the strain on all of them and bolster up the faint-hearted. That was the trouble—the faint-hearts. Had there been no faint-hearts there would have been no panic. There was that Eastern syndicate, negotiating with him now to take the majority of the stock in the Sierra and Salvador Power Company off his hands. That showed confidence that better times were at hand.

And if it was not cheery discourse, but prayer and entreaty or show down and fight on the part of the banks, Daylight had to counter in kind. If they could bully, he could bully. If the favor he asked were refused, it became the thing he demanded. And when it came down to raw and naked fighting, with the last veil of sentiment or illusion torn off, he could take their breaths away.

But he knew, also, how and when to give in. When he saw the wall shaking and crumbling irretrievably at a particular place, he patched it up with sops of cash from his three cash-earning companies. If the banks went, he went too. It was a case of their having to hold out. If they smashed and all the collateral they held of his was thrown on the chaotic market, it would be the end. And so it was, as the time passed, that on occasion his red motor-car carried, in addition to the daily cash, the most gilt-edged securities he possessed; namely, the Ferry Company, United Water and Consolidated Railways. But he did this reluctantly, fighting inch by inch.