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"
Very
good
,
"
commented
Mr.
Bailey
,
in
a
businesslike
way
.
Cowperwood
next
called
for
Mr.
Kaffrath
.
Conversing
to
similar
effect
with
that
individual
and
with
Videra
,
before
three-quarters
of
an
hour
Cowperwood
had
arranged
completely
for
Mr.
Stackpole
's
tour
.
He
was
to
have
his
total
loan
at
one-twenty
or
less
.
Checks
were
to
be
forthcoming
at
once
.
Different
banks
were
to
be
drawn
on
--
banks
other
than
the
Chicago
Trust
Company
.
Cowperwood
would
see
,
in
some
roundabout
way
,
that
these
checks
were
promptly
honored
,
whether
the
cash
was
there
or
not
.
In
each
case
the
hypothecated
stocks
were
to
be
sent
to
him
.
Then
,
having
seen
to
the
perfecting
of
this
little
programme
,
and
that
the
banks
to
be
drawn
upon
in
this
connection
understood
perfectly
that
the
checks
in
question
were
guaranteed
by
him
or
others
,
he
sat
down
to
await
the
arrival
of
his
henchmen
and
the
turning
of
the
stock
into
his
private
safe
.
On
August
4
,
1896
,
the
city
of
Chicago
,
and
for
that
matter
the
entire
financial
world
,
was
startled
and
amazed
by
the
collapse
of
American
Match
,
one
of
the
strongest
of
market
securities
,
and
the
coincident
failure
of
Messrs.
Hull
and
Stackpole
,
its
ostensible
promoters
,
for
twenty
millions
.
As
early
as
eleven
o'clock
of
the
preceding
day
the
banking
and
brokerage
world
of
Chicago
,
trading
in
this
stock
,
was
fully
aware
that
something
untoward
was
on
foot
in
connection
with
it
.
Owing
to
the
high
price
at
which
the
stock
was
"
protected
,
"
and
the
need
of
money
to
liquidate
,
blocks
of
this
stock
from
all
parts
of
the
country
were
being
rushed
to
the
market
with
the
hope
of
realizing
before
the
ultimate
break
.
About
the
stock-exchange
,
which
frowned
like
a
gray
fortress
at
the
foot
of
La
Salle
Street
,
all
was
excitement
--
as
though
a
giant
anthill
had
been
ruthlessly
disturbed
.
Clerks
and
messengers
hurried
to
and
fro
in
confused
and
apparently
aimless
directions
.
Brokers
whose
supply
of
American
Match
had
been
apparently
exhausted
on
the
previous
day
now
appeared
on
'
change
bright
and
early
,
and
at
the
clang
of
the
gong
began
to
offer
the
stock
in
sizable
lots
of
from
two
hundred
to
five
hundred
shares
.
The
agents
of
Hull
&
Stackpole
were
in
the
market
,
of
course
,
in
the
front
rank
of
the
scrambling
,
yelling
throng
,
taking
up
whatever
stock
appeared
at
the
price
they
were
hoping
to
maintain
.
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The
two
promoters
were
in
touch
by
'
phone
and
wire
not
only
with
those
various
important
personages
whom
they
had
induced
to
enter
upon
this
bull
campaign
,
but
with
their
various
clerks
and
agents
on
'
change
.
Naturally
,
under
the
circumstances
both
were
in
a
gloomy
frame
of
mind
.
This
game
was
no
longer
moving
in
those
large
,
easy
sweeps
which
characterize
the
more
favorable
aspects
of
high
finance
.
Sad
to
relate
,
as
in
all
the
troubled
flumes
of
life
where
vast
currents
are
compressed
in
narrow
,
tortuous
spaces
,
these
two
men
were
now
concerned
chiefly
with
the
momentary
care
of
small
but
none
the
less
heartbreaking
burdens
.
Where
to
find
fifty
thousand
to
take
care
of
this
or
that
burden
of
stock
which
was
momentarily
falling
upon
them
?
They
were
as
two
men
called
upon
,
with
their
limited
hands
and
strength
,
to
seal
up
the
ever-increasing
crevices
of
a
dike
beyond
which
raged
a
mountainous
and
destructive
sea
.
At
eleven
o'clock
Mr.
Phineas
Hull
rose
from
the
chair
which
sat
before
his
solid
mahogany
desk
,
and
confronted
his
partner
.
"
I
'll
tell
you
,
Ben
,
"
he
said
,
"
I
'm
afraid
we
ca
n't
make
this
.
We
've
hypothecated
so
much
of
this
stock
around
town
that
we
ca
n't
possibly
tell
who
's
doing
what
.
I
know
as
well
as
I
'm
standing
on
this
floor
that
some
one
,
I
ca
n't
say
which
one
,
is
selling
us
out
.
You
do
n't
suppose
it
could
be
Cowperwood
or
any
of
those
people
he
sent
to
us
,
do
you
?
"
Stackpole
,
worn
by
his
experiences
of
the
past
few
weeks
,
was
inclined
to
be
irritable
.
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"
How
should
I
know
,
Phineas
?
"
he
inquired
,
scowling
in
troubled
thought
.
"
I
do
n't
think
so
.
I
did
n't
notice
any
signs
that
they
were
interested
in
stock-gambling
.
Anyhow
,
we
had
to
have
the
money
in
some
form
.
Any
one
of
the
whole
crowd
is
apt
to
get
frightened
now
at
any
moment
and
throw
the
whole
thing
over
.
We
're
in
a
tight
place
,
that
's
plain
.
"
For
the
fortieth
time
he
plucked
at
a
too-tight
collar
and
pulled
up
his
shirt-sleeves
,
for
it
was
stifling
,
and
he
was
coatless
and
waistcoatless
.
Just
then
Mr.
Hull
's
telephone
bell
rang
--
the
one
connecting
with
the
firm
's
private
office
on
'
change
,
and
the
latter
jumped
to
seize
the
receiver
.
"
Yes
?
"
he
inquired
,
irritably
.