“Say!––is that straight goods, Phil?”
“Just our private opinion, Pete!”
“Well,––I think you’re about two years out in your guess, but I’m going to try a little selling just to be in the fashion. Thanks, old man!”
“You’d better hurry up then, Peter.”
Phil had hardly hung up the receiver, when Jim rushed in, his rugged face full of excitement.
“Read that!” he shouted, thrusting a cablegram under Phil’s nose. “By gad!––but we’ve been lucky; every client of ours has had a chance to sell. If he wouldn’t do it, he has only himself to blame now.”
The message was in code, with the interpretation scrawled underneath by Jim. It was from Jim’s father’s firm, Langford & Macdonald of Edinburgh.
“Extend no more loans in behalf this firm meantime. Informed Canadian Banks about to cease practice of extending credit on security of realty purchases. Letter follows.”
Phil rose slowly and extended his hand to his partner.