THE DAM GIVES WAY
Dull business, the dam which checked the onward flow of the stream
of our prosperity in 1885, was slowly but steadily carried away
in the early months of 1886. Consumers and dealers again became
liberal buyers and their lead was soon followed by the speculative
fraternity. Our office was crowded with business and a further
increase in the clerical force was imperative. Long hours and hard
work was the rule, while resulting profits continually mounting
higher was the reward.
Our customers as a class were a fine lot of men, all of substantial
means, most of them wealthy. We had no friction, we were popular
with all, and other things being equal we commanded the preference
from almost the entire trade.
Of course, some competition had developed--our success was sure to
attract it; but it was still of insignificant proportions, and we
gave it no thought. We had been first in the field and our position
was well entrenched.
As to the speculative branch, there we had no competition. It required
banking facilities and credit to do that business, Our competitors
had neither, while we were prepared to handle any proposition that
might be presented, regardless of the amount of money involved.
Our London connection had now become very valuable to us and was
the source of a good proportion of our profits. Business between
the two markets was of almost daily occurrence, while the quantities
dealt in were large. Our speculative customers were of great help
to us in this direction and indeed we could not have properly taken
care of them if we had depended on the New York market alone. They
had increased in numbers, and finding the business profitable their
individual operations became more important.
How true it is that "nothing succeeds like success."
Our success had become known by this time, not only to every one
in the trade, but also to many outside of it. Large banking houses,
known to us at that time only by reputation, sought our business,
offering most flattering terms and unusual facilities. Friends,
acquaintances, and not a few strangers begged of us to accept large
amounts of money for speculative operations at our discretion.
Large consumers discontinued asking us for quotations and sent us
their orders without limit as to price. So great was the confidence of
the consuming trade in our judgment that a letter from us advising
them to cover their requirements for any specified period never
failed to bring the orders.
With our speculative clients this was even more pronounced. We had
but to say "Buy," and they bought; "Sell," and they sold. All this
was a great responsibility and we realized it, never forgetting
that only the utmost conservatism would maintain our position. That
I was proud of that position was only natural.
Business activity was maintained until the close of the year, and
again I had made a record. My profits were thirty-six thousand
dollars.
Our social life at Knollwood this year had been going on at a rapid
pace and its more formal character began to take shape.
The frequent pleasant little dinner-parties of four to six couples,
where bright and entertaining conversation was general, had gone
through a course of evolution and become functions where two or
three times the number sat at the board and struggled through so many
courses that one became wearied of sitting still. Those enjoyable
amateur dramatic performances, followed by light refreshment and
a couple of hours' dancing, had been displaced by the grand ball
with its elaborate supper. But there still remained one feature,
unique and delightful:
The New Year reception--every New Year's day for many years
a reception was held at the Casino. The residents, loaning from
their homes rugs, draperies, paintings, statuary, and fine furniture,
transformed that large auditorium into an immense drawing-room. The
green-houses contributed palms and blooming plants in profusion. In
the enormous fire-place burned great logs. At one end of the room
a long table from which was served, as wanted, all that could be
desired by the inner man. The stage, set with pretty garden scene
and rattan furniture, where the men lounged as they had their smoke.
Music by a fine orchestra, interspersed with occasional songs by
our own local talent.
The reception was from six until nine, then the rugs were gathered
up, the furniture moved from the center of the floor, and dancing
was enjoyed until midnight.
For miles around, every one that was eligible never failed to
be present on those occasions. It was the one great social event
of each year, and long after the circle was broken the custom was
still kept up, until finally it died out owing to the indifference
of the new-comers. For such a community it was a beautiful custom,
and in its inception served to cement the spirit of cordiality and
good-will.