ated the
law you were sworn to obey and enforce. With that I do not now concern
myself. What I ask is that you secure the bank for that loan, which
still stands. When that is done, Mr. Leftwich will return this paper to
you. In the meanwhile, I place it in his hands."

"Really, Mr. Duncan"--for since the early part of that morning's
interview, Tandy had not ventured again upon the familiarity of
addressing Duncan without the "Mr."--"really, Mr. Duncan, you are
pressing me too hard. You must give me a few days----"

"How can I? The law would hold me at fault if I should allow the bank to
close to-day with that loan unsecured. I have no right to give you
time."

"You are persecuting me!"

"No, I am not. If I were minded to do that, I should call the loan in at
once. As it is, I only ask you--as I must--to secure it as the law
requires. I will accept any fairly good collateral you may have to
offer. There is surely no hardship in that--no persecution in demanding
that you shall temporarily leave with the bank enough of the bonds or
stock certificates that you hold in plenty, to comply with the law
concerning loans by national banks. I have simply no choice but to
insist upon that."

"But I tell you," answered Tandy, "that at present I have no bonds or
stocks conveniently available for such a purpose."

"I will accept your insurance stock."

"I've parted with that."

"Well, as I certainly have no disposition to be hard upon you, I'll
accept your stock in the Atlantic and Mississippi Steamship Company, or
even your Mississippi Valley Transportation Company stock, though
neither can be reckoned a first-class security."

"I've sold out of both companies," answered Tandy.

By this time Duncan began to wonder what had happened to Tandy, in a
financial way, just as Hallam had done.

"Wonder where he has been putting his money," he thought. "For surely he
had plenty of it a little while ago. He's been buying property along the
new railroad, but that isn't sufficient to tie up a man of Tandy's
wealth. Something must be the matter. I must be cautious."

"I'll put up a hundred thousand in Memphis and Ohio River stock----"
began Tandy.

"You know I can't consider that," said Duncan; "no sane banker could.
But if you choose, the bank will accept stock in your coal
mine--reckoned at fifty cents on the dollar--as security."

"That's out of the question. I'm negotiating a sale of my interests
there, and it would embarra