Colonel Beck placed the tips of his fingers together, and gazed across the apex before him at the young man, more in sorrow than in anger.
“My dear Mr. Steele, I have no doubt you heard the news before I did. As I told you in this very room, large dividends had been earned, and of course I came to the conclusion that they would be declared. Then you say, quite justly, if a dividend was earned, why was it not declared? The reason is a most convincing one, and I am expecting every moment Mr. Rockervelt to give it to the public. When he does so, people will learn how senseless is the panic which has ensued over what is, after all, an exceedingly simple matter; one of those exigencies of business which are constantly occurring.
“While I was in New York I was consulted about the case; indeed the main lines of the deal were settled, although the method of payment was left open. You may be aware that Mr. Rockervelt is aiming at the Pacific coast, and gradually extending his lines to the west. Very well. About a week ago he got a private offer of the L. S. & D. Road, for which at the present moment he has no use, but which in a few years’ time, when he makes certain connections, will be a most valuable link in his chain to California. Now, Mr. Rockervelt seeks advice, and listens to it, but no man can tell whether he will follow that advice or not. The information I have received from New York is to the effect that at the last moment Mr. Rockervelt made up his mind that instead of declaring a large dividend, as he might have done, he would put the amount in the L. S. & D. Road. Of course, he could have explained this at the meeting, but he did not do so, and there I think he was wrong. However, as you know, he works along his own lines, and perhaps his announcement might have raised difficulties before all the papers were signed. I imagine this is why he has made no statement. The truth is that just after the meeting he left in his private car for the West, intending to go over the L. S. & D. Road, but I am sure that when he realises the effect of his reticence on the business affairs of the country, he will be prompt to make his explanation, and save any further depreciation of securities. His manifesto will doubtless appear in to-night’s papers, or in the morning sheets at the latest.”
“I’m afraid that won’t help me, Colonel Beck, and as you are yourself unable to accommodate me with the money for a few days, I suppose it would be useless to ask if any of your wealthy friends would accept my securities and hand me over the money.”
“I fear not, I fear not,” said the Colonel, with an air of inexpressible sadness. “At times like these every one pulls tight the purse-strings. If I went to the richest friend I have and asked to be accommodated with a loan, telling him the true story of the passing of this dividend, I am very sure I should not be believed.” John rose to his feet, a wry smile on his lips.
“It is rather deplorable, Colonel Beck,” he said quietly, “that people should so distrust their fellow men, and even though you say so, I find it impossible to believe that any one should suspect you of setting a trap.”
“Ah, well,” sighed the Colonel, “we must take life as we find it, you know, and not as we would have it. Time sets all things right, and I am old enough to be philosophical. Must you go? Well, drop in when you can, and if the financial tension relaxes, I may be able to be of some assistance.”
John went downstairs and, as on a former occasion, expressing a wish to see the young lady of the house, was conducted into the morning room, where she greeted him, as it seemed to his now over-sensitive nerves, somewhat distantly.
“Sadie,” he said, “I told you in this room that I was worth three hundred thousand dollars; that I was earning a salary of five thousand dollars a year, and that within two months I expected to be a millionaire. I must now inform you that all my money has been swept away, that I am about to resign my five thousand a year, and that I shall probably never be more of a millionaire than I am at the present moment.”
“Oh, I’m so sorry,” said the girl, with the breathless haste of one who is confronted by a condition, and does not know the exact words that fit it.