to protect his private holdings. He mortgaged his house, his land
holdings--everything; and in many instances young Cowperwood was his
intermediary, carrying blocks of shares to different banks to get what
he could on them.

"See if your father's bank won't loan me fifteen thousand on these," he
said to Frank, one day, producing a bundle of Philadelphia & Wilmington
shares. Frank had heard his father speak of them in times past as
excellent.

"They ought to be good," the elder Cowperwood said, dubiously, when
shown the package of securities. "At any other time they would be. But
money is so tight. We find it awfully hard these days to meet our own
obligations. I'll talk to Mr. Kugel." Mr. Kugel was the president.

There was a long conversation--a long wait. His father came back to say
it was doubtful whether they could make the loan. Eight per cent., then
being secured for money, was a small rate of interest, considering its
need. For ten per cent. Mr. Kugel might make a call-loan. Frank went
back to his employer, whose commercial choler rose at the report.

"For Heaven's sake, is there no money at all in the town?" he demanded,
contentiously. "Why, the interest they want is ruinous! I can't stand
that. Well, take 'em back and bring me the money. Good God, this'll
never do at all, at all!"

Frank went back. "He'll pay ten per cent.," he said, quietly.

Tighe was credited with a deposit of fifteen thousand dollars, with
privilege to draw against it at once. He made out a check for the