ought on margin, and
had his margin wiped out by the decline in the stock caused by the
rumors. He explained to Edward that he could recoup his losses, heavy
though they were--in fact, he explained that nearly everything he
possessed was involved--if Edward's basis was sure and the stock would
recover.

Edward keenly felt the responsibility placed upon him. He could never
clearly diagnose his feelings when he saw his teacher in this new
light. The broker's "customers" had been hinted at, and the boy of
eighteen wondered how far his responsibility went, and how many persons
were involved. But the deal came out all right, for when, three days
afterward, the contract was made public, Western Union, of course,
skyrocketed, Jay Gould sold out, Edward sold out, the teacher-broker
sold out, and all the customers sold out!

How long a string it was Edward never discovered, but he determined
there and then to end his Wall Street experience; his original amount
had multiplied; he was content to let well enough alone, and from that
day to this Edward Bok has kept out of Wall Street. He had seen enough
of its manipulations; and, although on "the inside," he decided that
the combination of his teacher and his customers was a responsibility
too great for him to carry.

Furthermore, Edward decided to leave the Western Union. The longer he
remained, the less he liked its atmosphere. And the closer his contact
with Jay Gould the more doubtful he became of the wisdom of such an
association and perhaps its unconscious influence upon his own life in
its formative period.

In fact, it was an experience with Mr. Gould that definitely fixed
Edward's determination. The financier decided one Saturday to leave on
a railroad inspection tour on the following Monday. It was necessary
that a special meeting of one of his railroad interests should be held
before his departure, and he fixed the meeting for Sunday at
eleven-thirty at his residence on Fifth Avenue. He asked Edward to be
there to take the notes of the meeting.

The meeting was protracted, and at one o'clock Mr. Gould suggested an
adjournment for luncheon, the meeting to reconvene at two. Turning to
Edward, the financier said: "You may go out to luncheon and return in
an hour." So, on Sunday afternoon, with the Windsor Hotel on the
opposite corner as the only visible place to get something to eat, but
where he could not afford to go, Edward, with just fifteen cents in hi