AGAIN AT THE HELM
When I again took up my work at the office, it was with courage
renewed and fortified by a week of constant effort on the part of
my wife to make me realize more than ever before how much easier
it would be for her to bear any trials, no matter how severe, with
me, rather than a life of ease, even were that possible, without
me. While with loving care she nursed me back to health, she showed
me the folly of what I had attempted, and though making that point
clear and forceful avoided saying one word that would add to the
depression which weighed me down. Despite the frightful shock she
had received her love remained faithful and undiminished. It was
marvelous--the love and courage of that noble woman!
With a determination to succeed in at least making a living and
sufficient beside to meet the payments to Mrs. Slater, I put my
whole soul in my work. I do not suppose I really worked any harder
than I had for years past, but it seemed so, and in a measure my
efforts were rewarded.
We had on our books a good many customers who were small buyers.
The rest of the trade not competing with us so actively for this
class as for the larger business, made it easier for us to hold it.
Most of these firms we had been selling for more than a quarter of
a century.
There had recently been much complaint from these customers of the
prices we charged them, compared with published quotations of the
wholesale market.
On the occasion of a call at the office, one of them asked if it
would not be practicable in some way to buy to better advantage?
We explained to him the terms on which the business in importation
lots was done. If we were in a position to buy our supplies direct
in large lots, as importers, paying cash against the documents on
arrival of the steamer, and then await discharge of cargo, after
which would come weighing up in small lots and making shipments, we
could afford to sell at lower figures, but we had not the capital
to do the business.
He then suggested that the difficulty of lack of capital could be
surmounted by making our sales on terms of payment of approximate
amount with order. I was so eager for business that I probably
did not give to the possibility of loss to me in carrying out such
a suggestion the consideration it should have had. At all events,
we mailed a few letters to customers explaining the matter, and
a business on this basis was commenced and quickly grew to large
proportions.
This fact made it dangerous, for the larger the business the greater
the risk. We had to continually have an interest in the market
either on one side or the other, and if the business was large our
interest must be in proportion.
For some time the business was most satisfactory. My judgment of
the market was correct, our customers were well pleased, and we
made good profits. I was greatly encouraged with the outlook and
believed my troubles were at an end. During this period a certain
large interest used our office as a medium for some market manipulation,
and while this was going on that interest stood behind us in this
business.
Then came the other side of the story. We made losses. The market
went against us when our interest in it was considerable, and the
losses, not a large amount, still, were to us staggering. Compared
with the business we had been doing, there were but few contracts
outstanding. We tried to complete them. The material had arrived,
we arranged to have it weighed up, and it was invoiced, but we
could not make the shipments.
Just as events culminated there came to me in a most unexpected
manner an opportunity for a connection in another line of business
which promised large and almost immediate results.
I was through with the struggle in my own trade. Without large
capital it was useless to go on; and even with this, the business
had been so cut into by the trusts, the opportunity for making
money was far less than in the earlier years of my career. In the
new line I would meet with strangers and must of necessity carry
with me no complications. I believed in a comparatively short time
I could make enough money to pay my creditors and with that end in
mind I embraced the opportunity.
To my wife I said simply that my affairs had become involved, and
then started on the journey to my new field, many hundreds of miles
from New York, leaving her to adjust the old matters, with my aid,
through correspondence.
All but two or three of the smaller creditors showed the utmost
kindness, expressing their sympathy and the willingness to give me
time to pay my debts. This was all I asked.
The new connection was all that was represented. I liked the
business, my particular work was congenial, and so good were the
prospects I was as nearly happy as a man of my domestic taste could
be when separated from his wife.
Early in 1904 it became necessary for me to spend some time in
a city near New York. My wife then gave up the house, stored her
furniture, and with the family joined me.
It was here the hardest blow of all was dealt me. One of the small
creditors, in an attempt to collect his debt through the office of
the district attorney, caused my arrest. This came at a time when
my efforts were about to show tangible results, and its publicity
severed my business connection. Instead of hastening the payment
of his claim, my creditor by his action delayed it. The blow was
a crushing one in every way--to my financial prospects and to my
mental and physical condition.