"Well, now, if you will go back to the bank I will be over presently accompanied by a man from the Broadway office of Mahler's, and you will be asked to show us the vault. Please do not indicate that you know me."
When Rhodes was gone, Rand turned to me quickly and said: "Mr. Duncan, kindly go over to Mr. Robert Steele in Hargan's office in Wall Street and tell him I sent you. Ask him whether any government fours of '90 have been in evidence in the market recently. Meet me in half an hour at the telephone booth in the Park Row drug store."
I hurried to the office of the great firm of Hargan & Company and sent in my card to Mr. Steele with "through Mr. Rand" on the corner. I was ushered in immediately.
"Mr. Steele, I was sent here by Mr. Rand to inquire whether there have been any '90 government fours on the market in more than the usual quantity recently?"
At the question he started visibly and whirled abruptly around in his desk chair to face me. He stared at me a moment as if weighing his words forthcoming.
"Well—yes," he said slowly, dropping his eyes in a manner that was anything but frank. "Yes, there have been—some." He paused and looked up at me again, took off his glasses, and, wiping them tentatively, put them on and looked me full in the face as if decided on his course.
"Since Mr. Rand sent you, it must be all right, for we trust Mr. Rand thoroughly here. Tell him that a pile of them has been dumped into the market in the past week, not into the market exactly, but Strauss brokers had them and loans on them were used to buy Overland Pacific at an average of 87, and when it reached 161 last Thursday, whoever was in this pool began to take profits as nearly as we can tell and closed out the line at an average of 157. Of course Overland went to 136, but she is—let me see—let me see—" he looked at the tape—"is 206, so whoever held these bonds must have been outside of Strauss's pool. It cost us about three million dollars, and if you can tell me any more about it I will be very grateful."
I told him there was absolutely nothing of which I knew personally.
Suddenly I remembered that I had not learned even the name of the president of the Municipal Bank, and if Rand had asked Rhodes at lunch I had let it slip by me. Inwardly ashamed of my loose methods, compared with Rand's thorough ones, I hastened to ask of Mr. Steele, as a by-matter, being sure that he would know. I was at the door ready to go out when the matter flashed into my mind.
"By the way, Mr. Steele," I said, "do you happen to know the president of the Municipal Bank—"