He eyed Smith so hostilely that the younger man, for all his regard for the veteran, felt inclined to laugh.
"Well, that sounds pretty bad," he agreed; "but absolutely nothing warrants a face as sad as yours. Those are simply a number of misfortunes that may be overcome, but your face implies a regular catastrophe. I don't see how a broker dares to tackle you; I wouldn't, if I were a broker."
"Oh, it's all very well to be cheerful, if you can," retorted the other, gloomily; "but I've been a good many years building up this local business, and I admit I can't take much enjoyment in watching it float out the door and disappear down the street."
"No, one would hardly expect you to," Smith conceded. "But cheer up, just a little. I've been waiting for the directors' meeting to tackle the local situation, and you know they meet to-day."
This was the first directors' meeting since that at which Smith had been chosen Vice-President. Had there been in the minds of those who had voted for him any doubt of his dynamic force and ability to cope with the situation before him, that doubt must have been dispelled by the brief but satisfactory report upon what had been done, presented to them by Mr. Wintermuth. Upon the conclusion of this there was a pause, and Mr. Whitehill spoke.
"That's a good statement, and I think our Vice-president is to be congratulated on taking hold of things in such an energetic and business-like way. We shall of course ratify the action Mr. Smith has taken on these matters; and now I want to ask Mr. Smith what he thinks our prospects are and what he has in mind for the immediate future."
There were two things Smith wanted, neither of which could he get alone and unaided; and accordingly he went to the point with the utmost directness.
"I believe that we have passed a kind of crisis and that things are fairly well started, gentlemen," he said. "I see no reason why the Guardian should not go on and continue to be the successful underwriting institution it has always been, and certainly I shall try my hardest to make it so. I am very much obliged to Mr. Whitehill for his expression of confidence in me. Now, there are two things which you gentlemen can give me and for which I ask you to-day. One is authority to double our liability on Manhattan Island, and the other is an uptown branch manager."
Smith stopped, glancing at Mr. Wintermuth and rather apprehensive of the reply he might receive. But all that gentleman answered was:—
"We've always tried to keep down our liability in Manhattan—especially in the lower end, between Chambers and Twenty-third Street."