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I saw the Le Moyne Carruthers house. The old boy must have been rich, all right, all right. And when he died in 1904 he had been rich, according to the probate of the will. But it was nine years between 1904 and 1913, and a lot can happen. Mabel Carruthers had lived high. That was the story. But they all said she could afford it. And, according to what I could pick up, there was no reason to believe that the uncle in New York, who was the executor of the will, hadn't known his business about handling Mabel's investments.
It looked absolutely level. But there is one thing you must never forget: the judgment docket book in the courthouse.
I did not forget it. And there I found the name of Mabel Carruthers. People had had some trouble getting money out of Mabel. But this didn't prove anything. Lots of rich girls are so rich they are just above paying bills and you have to pinch them to make them disgorge. But I noticed one thing. Mabel didn't get the bad habit until 1911. In other words, she had paid her bills all right for the first seven years she had had her money. Now, I argued, if this amiable failing had been merely the result of temperament and not of necessity, why did it come on her all at once? It had come on her all at once, and in a flock. Not that it was the corner grocer by himself. He had some fast company, for Mabel didn't like to pay Le Clerc in New York for a diamond pendant, and didn't like to pay her dress maker, and didn't like to pay a local vintner for some pretty impressive stuff. Mabel had lived high, all right.
The last judgment was to the Seaboard Bank for a loan, amounting to $750. Small change for Mabel. Now there was no Seaboard Bank in Sava
Mr. Percy Poindexter was not in Sava
The breath gave out, and for a long moment I thought there would not be any more. But some more came, and he said, "But–that–doesn't matter–either."
I thanked him and shook his hand, which was like cold wax and left a chill in my palm, and went out and got into my rented car and drove back to the city, where I got a drink, not to celebrate but to take the ice out of my marrow, which not the weather but the old man had put there.
I had found out that Mabel Carruthers had been broken, but had married a rich man from the West. Or rather what in Sava
I had knocked and the sound had been very, very hollow. I sunk the crowbar in deeper. Judge Irwin had not paid off his mortgage in 1914 with his wife's money. What had he been doing in 1914 to get the money? He had been ru
But in March of 1915 the Judge had a good job, a very good job. He resigned as Attorney general to become counsel and vice-president for the American Electric Power Company, at a very good figure of $20,000 a year. There was no reason why they shouldn't have hire a lot of good lawyers for a lot less than $20,000 a year. But a job in 1915 doesn't pay off the bailiff in 1914. When I knocked, it still sounded hollow.
So I took my one plunge in the stock market. One share of common stock of the American Electric Power Company, and it was cheap as dirt in the middle of the Depression. But it turned out to be a very expensive piece of paper. For a lot of people.
It was a coupon-clipper now, and I wanted to know how they were going to take care of my investment. So I took advantage of the stockholder's right. I went down to look at the stock records of the American Electric Power Company. From the literal dust of time, I dug up certain facts: In May, 1914, Montague M. Irwin had sold five hundred shares of common stock, at par, to Wilbur Satterfield and Alex Cantor, who were, I was to discover later, officials of the company. That meant that Irwin had plenty in his pocket in late May to pay off the mortgages and have some change left over. But when had he got hold of the stock? That was easy. In March, 1914, the company had been reorganized and a big chunk of new stock issued. Irwin's stock was part of the new chunk. The boys had passed it to Irwin (or has he bought it?) and some of the other boys had bought it back. (Irwin must have kicked himself about selling it, for it began to climb shortly and kept on climbing for quite a spell. Had Messrs. Satterfield and Cantor taken Irwin? They were old hands, on the inside. But Irwin had had to sell, and quick. There was the mortgage.)
Irwin had had the stock, and had sold it to Messrs. Satterfield and Cantor. So far, so good. But how had Irwin got the stock? Had they just given it to him out of the blue? Not likely. But why do people give you great big chunks of nice new stock issues with gold seals? The answer is simple: Because you are nice to them.