Difference between revisions of "Making Haste to Be Rich! CHAPTER 14."

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Partridge and two others sat in earnest conference early on the morning following. A newspaper was in the hand of the former, and he had just read the following paragraph:

"Painful Rumor. — Commercial and money circles were rife yesterday with rumors of extensive forgeries committed by an individual who has stood high in the confidence of the community. We have been at some pains to get at the facts of the case; but statements are yet too vague to warrant our giving anything specific. It is said, however, that the guilty person is deeply concerned with one or two money institutions, and that some startling disclosures may be expected. Attempts were made, during the afternoon and evening, to arrest the individual charged with this high crime, but he could not be found. He has, probably, left the city. But he will hardly escape."

"Ruin! inevitable ruin to us all!" he exclaimed, striking his fist with great violence upon a table near which he sat. "The cursed villain! Wasn't he making money fast enough, that he must commit a crime in order to swell his gains. Madness!"

Bitter were the imprecations which fell from the lips of his companions; and they raged, impotently, for a time, like wild beasts suddenly caged.

"All is lost!" resumed Partridge, as he hurriedly paced the floor. "It will be impossible for us, now, to keep the bank afloat. His connection with it cannot fail to be known, and the public will crush it at a word. Then totters and falls the 'Mutual Savings Fund,' and the 'Union Insurance Company,' overwhelming us in ruin, and bringing upon our heads the execrations, perhaps the vengeance of a wronged community."

"Shall we let all go without a struggle?" asked one of the men.

"All struggles must be vain, and weaken our power of endurance in the final catastrophe," replied Partridge. "As for me, I find myself on Riddell's paper for fifty thousand dollars, and I suppose you are both more or less involved with him in the same way. Last night I ascertained that the 'Union' has nearly a hundred thousand dollars of paper discounted for him; and from carefully going over all of it, I have a very strong suspicion that at least one-half is forged. A heavy amount of post notes loaned on this immense sum, have been discounted in the 'Mutual Savings Fund,' which is already so hard pressed that it can with difficulty keep afloat. A breath of alarm will bring a run by depositors and holders of the issue payable at her counter, and stop her wheels in a day. Gentlemen! it is useless for us to shut our eyes to the truth. We have ridden these three concerns so hard, that they have not enough strength left to carry us in safety beyond the present danger. But for Riddell's mad conduct, all would have gone on well. We could have foreseen an approaching storm, and hidden ourselves. But now the tempest is over our heads, and there is no shelter under which we can withdraw and await until it has spent its fury!"

Already had Partridge bitterly cursed his own folly in tempting his associate to commit the very crime that was about proving the ruin of all. It is a question whether he has ever forgotten the "Autobiography of John Ketch," Fauntleroy's forgeries, or Doctor Dodd's unhappy fate. He has had cause, as well as his victim, to remember them, for the pit he dug for another — he fell into himself!

All further struggles, as Partridge said, were useless. By a kind of instinct, the connection of Riddell with the "Eagleton Bank," "Mutual Savings Fund," and "Union Insurance Company," was known in the community. On the day after he fled in alarm — a fact, doubtless inferred by the reader — the notes of the bank were refused by the brokers, and at once became uncurrent. Holders of those payable at the counter of the "Mutual Savings Fund," crowded in with them for redemption. By extraordinary efforts, the officers of the "Savings Fund" sustained the run during the day, and closed its doors never again to re-open them. On the day following, the "Union Insurance Company" suspended payment on its post notes, and time enough thereafter to hear from Eagleton, only elapsed, before intelligence came that the bank had stopped.

As usual on such occasions, advertisements were inserted in the papers, warning the holders of notes not to sacrifice them, as each of the three concerns had ample resources for the payment of everything due. But these did not prevent Eagleton Bank Stock from going down to its old rate of five or six dollars a share, nor enable those who wished to sell the bills, to get over twenty cents on the dollar for them, at which rate they were bought up for those who owed the bank.

In the midst of the excitement attendant on these events, Riddell was brought back to the city, and committed for trial. He had reached New Orleans, and was about embarking for Havana, when arrested. So incensed were the people against him, that it was deemed best by his friends to let him remain in prison for a time, to insure immunity from personal violence.

The truth in regard to the Eagleton Bank soon became fully apparent, and the connection of those who had engaged in the fraud upon the public, understood in the community. Partridge was debtor to the institution to an amount reaching nearly a hundred and fifty thousand dollars, and Riddell nearly as much more, and also of stock in the "Union Insurance Company," besides fancy stocks bought at a mere song. As for the "Mutual Savings Fund," there was nothing in the shape of actual property to show. Plenty of "Union Insurance Company's" post notes, were on hand, and notes of Partridge, Riddell, and others, who had stopped payment on the failure of the "Bank," "Fund," and "Company." Depositors lost everything, and many a poor man and friendless widow saw hundreds of dollars, which were deemed as safe as if they had possessed the amount in gold, melt from before their eyes, like frost-work in the morning sun.

It would add nothing to the force of the lesson this simple narrative — in which not a few will recognize more of fact than fancy — is intended to impress upon the mind, were touching instances of distress, occasioned by the high-handed villainy detailed, to be presented to the reader. Enough of these occurred to sicken the heart, and wring from hundreds deep curses upon the authors of the wrong, which they had sustained.

In the midst of the earnest struggles made by Partridge to disentangle himself from the meshes in which he was involved, and save something handsome from the ruins, even though his good name was lost, he was arrested on a charge of swindling, and held to bail for trial. This broke him down; for it made the prosecution of what he was doing — the very means of convicting him. All, therefore, was lost to him, for to save himself from the danger of conviction on the charge brought — he gave up everything for the benefit of creditors, and thus escaped the legal punishment of his nefarious deeds. When he left the court-house, at the close of a long trial, he left it poor and friendless. None pitied him; none took him by the hand. Even his old and more fortunate associates turned their backs. Broken in spirits, despised and in poverty, he was left to eat, alone, the bitter fruits of repentance; though, we fear, it was not unto life; for such men rarely repent of their evil deeds, but only of the errors by which ruin was dragged down upon their heads.