"But Pennywise is manager still. Think of his long experience in the bank, and how many years he acted under Truepenny. Pennywise is the most cautious and circumspect bank manager going."
"He is slow enough, if that is what you mean; and that slowness is the foundation of his high repute. It has been worth a fortune to him. You submit your proposal and he lets you talk, and when you have talked yourself into a belief that he will never let so good a thing go past him, he says 'hum,' and coughs--he has always a cough when he ought to speak, and gains time by eating a lozenge. When that is over he clears his voice with a long breath, and promises to submit the matter to his board. Truepenny, now, was gruff, but he was quick, and he did not waste time. He might cut you short in the middle of your story--he always cut Pennywise short when he began to wheeze and ask more questions--but it was because he knew what you were going to say, and he gave you your answer. It was always the best answer for the bank's interest, and generally it was the kindest for the customer. His successor, Sacavent, is rarely to be seen in the bank parlour now, and Pennywise does as he pleases, that is, makes people wait, till his mind is satisfied, and their opportunity is past."
"But the bank's business has not fallen off. The profits are larger than ever this year."
"On paper, at least. But we must wait to test the reality. It takes time to weaken a made reputation. Sacavent, now! Do you think that was a judicious choice?"
"One of our most distinguished merchants--Why, of course!--Rich, popular, doing an immense business of his own. Who can understand the wants of the business community better?"
"That is just it. I fear he understands the wants of the business community too well--knows them from personal experience. What would you say, now, if I were to tell you that his fine house on the mountain was mortgaged up to the gold weather cocks? and that the bank has had to be content with a second mortgage, as collateral, which is just worth the paper it is written on, for the first will cover everything."
"Hm. That sounds serious. Is it really so?"
"I hear so, and more. They tell me his wife, who has her own property--'separée des biens,' we call it in our law--has had to give security for a large sum."
"Indeed? But after all it is a big institootion. If Sacavent were to bleed it for all he is worth it would be only a pin-prick to the Banque d'Orval."
"Perhaps; but who can be sure that he is the only blood-sucker on the board? One cannot suppose the others would pass over his overdrafts if they did not get something for themselves. Why, even Pennywise will have to get something to keep him quiet. If it should turn out that there is a whole nest of needy ones, who can tell how far the queer transactions may extend? If anything should leak out--you see something is known, though not to the public--it would raise a panic."