Fair Harbor Part 57

"Not a bit, George," he said. "Not a bit. I'm mighty glad to see you. I told you to come any time, you remember. Well, you've come, haven't you?

Now what is it?"

Kent's gaze left the wall and turned toward his companion. "Cap'n Kendrick," he began, then stopped. "Cap'n Kendrick," he repeated, "I--Mrs. Macomber said--she told me you said that--that----"

"All right, George, all right. I told her to remind you that one time you promised to come to me if you was in any--er--well, trouble, or if you had anything on your mind. I judge that's what you've come for, isn't it?"

Kent started violently. His feet slipped from the hearth and struck the floor with a thump.

"How did you know I was in trouble?" he demanded. "Who told you? Did they tell you what----"

"No, no, no. n.o.body told me anything especial. Sarah did say you hadn't looked well lately and she was afraid you was worried about somethin'.

That's all. I've been worried myself durin' my lifetime and I've generally found it helped a little to tell my worries to somebody else.

At any rate it didn't do any harm. What's wrong, George? Nothin'

serious, I hope."

Kent breathed heavily. "Serious!" he repeated. "I--I...." Then in a sudden outburst: "Oh, my G.o.d, Cap'n Kendrick, I think they'll put me in jail."

Sears looked at him. Then, leaning forward, he laid a hand on the boy's knee.

"Nonsense, George," he exclaimed, heartily. "Stuff and nonsense! They don't put fellows like you in jail. You're scared, that's all. Tell me about it."

"But they will, they will. You don't know Ed Stedman. He doesn't like me. He always has had it in for me. He's prejudiced Clara against me and she hates me, too. They're pressing me for the money now. The last letter I had from them Stedman said he wouldn't wait another fortnight.

And a week is gone already. He'll----"

"Hold on. Who's Stedman?"

"Oh, I thought you knew. He's my half-sister's husband up in Springfield. When my aunt died.... But I told you I was administrator of her estate. I remember I told you. That day when----"

"Yes, yes, I remember; that is, I remember a little. Tell me the whole of it. What's happened?"

"Yes--yes, I want to. I'm going to. Oh, if you _can_ help me I'll--I'll never forget it. I'll do anything for you, Cap'n Kendrick. I know I shouldn't have done it. I had no right to take the risk. But Mr.

Phillips said--he said----"

"Eh?" Sears' interruption this time was quite unpremeditated.

"Phillips?" he repeated, sharply. "Egbert, you mean? Oh, yes....

Humph.... Is he mixed up in this?"

"Why--why, yes. If it hadn't been for him it wouldn't have happened. I don't mean that he is to blame, exactly. I guess n.o.body is to blame but myself. But when I think---- Oh, Cap'n Kendrick, do you suppose you can help me out of it? If you can, I----"

Here followed another outburst of agonized entreaty. The boy's nerves were close to breaking, he was almost hysterical. Slowly and with the exercise of much patience and tact the captain drew from him the details of his trouble. It was, as he told it, a long and complicated story, but, boiled down, it amounted to something like this:

Kent and Phillips had been very friendly for some time, their intimacy beginning even before the latter came to board at Sarah Macomber's.

Egbert's polished manners, his stories of life abroad, his easy condescending geniality, had from the first made a great impression upon George. The latter, already esteeming himself above the average of mentality and enterprise in what he considered the "slow-poke" town of Bayport, found in the brilliant arrival from foreign parts the personification of his ideals, a satisfying specimen of that much read of _genus_, "the complete man of the world." He fell on his knees before that specimen and worshiped. Such idolatry could not but have some effect, even upon as _blase_ an idol as Mr. Phillips, so the latter at first tolerated and then even encouraged the acquaintanceship. He began to take this young follower more and more into his confidence, to speak with him concerning matters more intimate and personal.

George soon gathered that Egbert had been much in moneyed circles. He spoke casually of the "market" and referred to friends who had made and remade fortunes in stocks, as well as of others whose horses had brought them riches, or who had brought off what he called _coups_ at foreign gaming tables. The young man, who had been brought up in a strict Puritanical household, was at first rather shocked at the thought of gambling or racing, but Mr. Phillips treated his prejudices in a condescendingly joking way, and Kent gradually grew ashamed of his "insularity" and _bourgeois_ ideas. Egbert habitually read the stock quotations in the Boston _Advertiser_ and the mails brought him brokers'

circulars and letters. Kent was led to infer that he still took a small "flyer" occasionally. "Nothing of consequence, my boy, nothing to get excited about; haven't the wherewithal since our dear friend Knowles and his--ah--satellites took to drawing wills and that sort of thing. But if my friends in the Street send me a bit of judicious advice--as they do occasionally, for old times' sake--why, I try to cast a few crumbs upon the waters, trusting that they may be returned, in the shape of a small loaf, after not too many days. Ha, ha! Yes. And sometimes they do return--yes, sometimes they do. Otherwise how could I rejoice in the good, but sometimes tiresome, Mrs. Macomber's luxurious hospitality?"

It seemed an easy way to turn one's crumbs into loaves. Kent, now the possessor of the little legacy left him by his aunt, wished that the eight hundred dollars, the amount of that legacy, might be raised to eight thousand. He was executor of the small estate, which was to be equally divided between his half-sister and himself. There had been a little land involved, that had been sold and the money, most of it, paid him. So he had in his possession about sixteen hundred dollars, half his and half Mrs. Stedman's. If he could do no better than double his own eight hundred it would not be so bad. He wished that _he_ had friends in the Street.

He hinted as much to Phillips. The latter was, as always, generously kind. "If I get the word of another good thing, my boy, I shall be glad to let you in. Mind, I shan't advise. I shall take no responsibility--one mustn't do that. I shall only pa.s.s on the good word and tell you what I intend doing myself." George, very grateful, felt that this was indeed true friendship.

The chance at the good thing came along in due season. The New York brokerage firm wrote Phillips concerning it. It appeared that there was a certain railway stock named Central Midland Common. According to the gossip on the street, Central Midland--called C. M. for short--was just about due for a big rise. Certain eminent financiers and manipulators were quietly buying and the road was to be developed and exploited. Only a few, a select few, knew of this and so, obviously, now was the time to get aboard. Kent asked questions. Was Egbert going to get aboard? Egbert smilingly intimated that he was thinking of it. Would it be possible for him, Kent, to get aboard at the same time? Well, it might be; Egbert would think about that, too.

He did think about it and, as a result of his thinking, he and Kent bought C. M. Common together. Of course to buy any amount worth while would be impossible because of the small amount of ready cash possessed by either. "But," said Phillips, "I seldom buy outright. The latest quotation of C. M. is at 40, or thereabouts. I intend buying about two hundred shares. That would be eight thousand dollars if I paid cash, but of course I can't do that. I shall buy on a ten per cent margin, putting up eight hundred. If it goes up twenty points I make two thousand dollars. If it goes up fifty points, as they say it will, why----" And so on.

It ended--or began--by Phillips and Kent buying, as partners, four hundred shares of C. M. on a ten per cent margin. George turned over to Egbert the eight hundred dollars in cash, and Egbert sent to the brokers six hundred of those dollars and a bond, which he had in his possession, for one thousand dollars. Yes, Kent, had seen the broker's receipt. Yes, the bond was a good one; at least the brokers were perfectly satisfied. Where did Egbert get the bond? Kent did not know.

It was one he owned, that is all he knew about it.

For a week or so after the purchase was made C. M. Common did continue to rise in price. At one time they had a joint profit of nearly two thousand dollars. Of course that seemed trifling compared with the thousands they expected, and so they waited. Then the market slumped. In two days their profit had gone and C. M. Common was selling several points below the figure at which they purchased. By the end of the fourth day, unless they wished to be wiped out altogether, additional margin--another ten per cent--must be deposited immediately.

And to George Kent this seemed an impossibility because he had not another eight hundred, or anything like it, of his own.

Why, oh, why, had he been such a fool? In his chagrin, disappointment and discouragement he asked himself that question a great many times.

But when he asked it of his partner in the deal that partner laughed at him. According to Phillips he had not been a fool at all. The slump was only temporary; the stock was just as good as it had ever been; all this was but a part of the manipulation, the insiders were driving down the price in order to buy at lower figures. And letters from the brokers seemed to bear this out. Nevertheless the fact remained that more margin must be deposited and where was Kent's share of that margin coming from?

The rest of the story was exactly like fifty thousand similar stories.

In order to save the eight hundred dollars of his own George put up as margin with the New York brokers the eight hundred dollars belonging to Mrs. Stedman, his half sister. Again he paid the eight hundred to Phillips, who sent to New York another one thousand dollar bond and six hundred in cash. And C. M. Common continued to go down, went down until once more the partners were in imminent danger of being wiped out. Then it rose a point or so, and there the price remained. All at once every one seemed to lose interest in the stock; instead of thousands of shares bought and sold daily, the sales dropped to a few odd lots. And instead of the profits which were to have been theirs by this time, the firm of Phillips and Kent owned together a precarious interest in four hundred shares of Central Midland Common which if sold at present prices would return them only a minimum of their investment, practically nothing when brokerage commissions should be deducted.

And then Edward Stedman, Kent's brother-in-law, demanded an immediate settlement of the estate. The land had been sold, the estate had been settled--he knew it--now he and his wife wanted their share.

So that was the situation which was driving the young fellow to desperation. _What_ could he do? He could not satisfy Stedman because he had not eight hundred dollars and he could not confess it, at least not without answering questions which he did not dare answer. As matters stood he was a thief; he had taken money which did not belong to him. He and Stedman had not been friendly for a long time. According to George his brother-in-law would put him in jail without the slightest compunction. And, even if he managed--which he was certain he could not--to avoid imprisonment, there was the disgrace and its effect upon his future. Why, if the affair became known, at the very least his career as a lawyer would be ruined. Who would trust him after this? He would have to go away; but where could he go? He had counted on his little legacy to help him get a start, to--to help him to all sorts of things. Now---- Oh, what _should_ he do? Suicide seemed to be the sole solution. He had a good mind to kill himself. He should--yes, he was almost sure that he should do that very thing.

It was pitiful and distressing enough, and Kendrick, although he did not take the threat of self-destruction very seriously--somehow he could scarcely fancy George Kent in the role of a suicide--was sincerely sorry for the boy. He did his best to comfort.

"There, there, George," he said, "we won't talk about killin' ourselves yet awhile. Time enough to hop overboard when the last gun's fired, and we haven't begun to take aim yet. Brace up, George. You'll get through the breakers somehow."

"But, Cap'n Kendrick, I can't--I can't. I've got only a week or so left, and I haven't got the money."

"Sshh! Sshh! Because you haven't got it now doesn't mean you won't have it before the week's out--not necessarily it doesn't.... Humph! Let's take an observation now, and get our bearin's, if we can. You've talked this over with Egbert--with Phillips, of course. After all, he was the fellow that got you into it. What does he say?"

It appeared that Mr. Phillips said little which was of immediate solace.

He professed confidence unbounded. C. M. was a good stock, it was going higher, all they had to do was wait until it did.

"Yes," put in Sears, "that's good advice, maybe, but it's too much like tellin' a man who can't swim to keep up till the tide goes out and he'll be in shallow water. The trouble is neither that man nor you could keep afloat so long. Is that all he said? He understands your position, doesn't he, George?"

Yes, Mr. Phillips understood, but he could do nothing to help. He had no money to lend--had practically nothing except the two one thousand dollar bonds, and those were deposited as collateral with the brokers.

"Um--ye-es," drawled Kendrick. "Those bonds are interestin' of themselves. We'll come to those pretty soon. But hasn't he got _any_ ready money? Seems as if he must have a little. Why, you paid him sixteen hundred in cash and, accordin' to your story, he sent only twelve hundred along with the bonds. He must have four hundred left, at least. That is, unless he's been heavin' overboard more 'crumbs' that you don't know about."

Kent knew nothing of his partner's resources beyond what the latter had told him. And, at any rate, what good would four hundred be to him?

Unless he could raise eight hundred within the week----

"Yes, yes, yes, I know. But four hundred is half of eight hundred and seems to me if I was in his shoes and had been responsible for gettin'

you into a clove hitch like this I'd do what I could to get you out. And he couldn't--or wouldn't--do anything; eh?"

"He can't, Cap'n Kendrick. He can't. Don't you see, he hasn't got it.

He's poor, himself. Of course he came here to Bayport, after his wife's death, thinking that he owned the Fair Harbor property and--and a lot more. Why, he thought he was rich. _He_ didn't know that old Knowles had used his influence with Mrs. Phillips when she was half sick and tricked her into----"

"Here, here!" The captain's tone was rather sharp this time. "Never mind that. Old Knowles, as you call him, was a friend of mine.... I thought he was your friend, too, George, for the matter of that."