There began, now, busy days at the factory. In the third floor of their building a machine shop was installed. Three thousand dollars went there. Outside, in a large experimental shop, work was being rapidly pushed on machinery which would make tacks with cross-corrugated heads. Genius Wallingford had secretly secured drawings of tack machinery, and devised slight changes which would evade the patents, adding dies that would make the roughened tops. A final day came when, set up in their shop, the first faulty machine pounded out tacks ready for later covering, and every stockholder who had been called in to witness the working of the miracle went away profoundly convinced that fortune was just within his reach. They had their first patent granted now, and the sight of it, on stiff parchment with its bit of bright ribbon, was like a glimpse at dividends. It was right at this time, however, that one cat was let out of the bag. The information came first to Edward Lamb, through the inquiries of a commercial rating company, that their Boston capitalist was a whited sepulcher, so far as capital went. He had not a cent. The secretary, in the privacy of their office, put the matter to him squarely, and he admitted it cheerfully. He was glad that the exposé had come – it suited his present course, and he would have brought it about himself before long.
"Who said I had money?" he demanded. "I never said so."
"Well, but the way you live," objected Lamb.
"I have always lived that way, and I always shall. Not only is it a fact that I have no money, but I must have some right away."
"I haven't any more to lend."
"No, Eddy; I'm not saying that you have. I am merely stating that I have to have some. I am being bothered by people who want it, and I cannot work on the covering machine until I get it," and Mr. Wallingford coolly telephoned for his big automobile to be brought around.
They sat silently in the office for the next five minutes, while Lamb slowly appreciated the position they were in. If J. Rufus should "lay down on them" before the covering machine was perfected, they were in a bad case. They had already spent over twenty thousand dollars in equipping their office, their machine shop, and perfecting their stamping machine, and time was flying.
"You might sell a little of your stock," suggested Lamb.
"We have an agreement between us to hold control."
"But you can still sell a little of yours, and stay within that amount. I'm not selling any of mine."
Mr. Wallingford drew from his pocket a hundred-share stock certificate.
"I have already sold some. Make out fifty shares of this to L. W. Ramsay, twenty-five to E. H. Wyman, and the other twenty-five to C. D. Wyman."
Ramsay and the Wyman Brothers! Ramsay was the automobile dealer; Wyman Brothers were Wallingford's tailors.
"So much? Why didn't you sell them at least part from our extra treasury stock? There is twenty thousand there, replacing the ten thousand of the old company."
"Why didn't I? I needed the money. I got twenty-five hundred cash from Ramsay, and let him put twenty-five on account. I agreed to take one thousand in trade from Wyman Brothers, and got four thousand cash there."
The younger man looked at him angrily.
"Look here, Wallingford; you're hitting it up rather strong, ain't you? This makes six thousand five hundred, besides two thousand you borrowed from me, that you have spent in three months. You have squandered money since you came here at the rate of three thousand a month, besides all the bills I know you owe, and still you are broke. How is it possible?"
"That's my business," retorted Wallingford, and his face reddened with assumed anger. "We are not going to discuss it. The point is that I need money and must have it."
The automobile drew up at the door, and J. Rufus, who was in his automobile suit, put on his cap and riding coat.
"Where are you going?"
"Over to Rayling."
Lamb frowned. Rayling was sixty miles away.
"And you will not be back until midnight, I suppose."
"Hardly."
"Why, confound it, man, you can't go!" exclaimed Lamb. "They're waiting for you now over at the machine shop, for further instructions on the covering device."
"They'll have to wait!" announced J. Rufus, and stalked out of the door.
The thing had been deliberately followed up. Mr. Wallingford had come to the point where he wished his flock to know that he had no financial resources whatever, and that they would have to support him. It was the first time that he had departed from his suavity, and he left Lamb in a panic. He had been gone scarcely more than an hour when David Jasper came in.
"Where is Wallingford?" he asked.
"Gone out for an automobile trip."
"When will he be back?"
"Not to-day."
Jasper's face was white, but the flush of slow anger was creeping upon his cheeks.
"Well, he ought to be; his note is due."
"What note?" inquired Lamb, startled.
"His note for a thousand dollars that I went security on."
"You might just as well renew it, or pay it. I had to renew mine," said Lamb. "Dave, the man is a four-flusher, without a cent to fall back on. I just found it out this morning. Why didn't you tell me that he was borrowing money of you?"
"Why didn't you tell me he was borrowing money of you?" retorted his friend.
They looked at each other hotly for a moment, and then both laughed. The big man was too much for them to comprehend.
"We are both cutting our eye teeth," Lamb decided. "I wonder how many more he's borrowed money from."
"Lewis, for one. He got fifteen hundred from him. Lewis told me this morning, up at Kriegler's."
Lamb began figuring. To the eight thousand five hundred of which he already knew, here was twenty-five hundred more to be added – eleven thousand dollars that the man had spent in three months! Some bills, of course, he had paid, but the rest of it had gone as the wind blew. It seemed impossible that a man could spend money at the rate of one hundred and twenty-five dollars a day, but this one had done it, and that at first was the point which held them aghast, to the forgetting of their own share in it. They could not begin to understand it until Lamb recalled one incident that had impressed him. Wallingford had taken his wife and two friends to the opera one night. They had engaged a private dining room at the hotel, indulging in a dinner that, with flowers and wines, had cost over a hundred dollars. Their seats had cost fifty. There had been a supper afterward where the wine flowed until long past midnight. Altogether, that evening alone had cost not less than three hundred dollars – and the man lived at that gait all the time! In his home, even when himself and wife were alone, seven-course dinners were served. Huge fowls were carved for but the choicest slices, were sent away from the table and never came back again in any form. Expensive wines were opened and left uncorked after two glasses, because some whim had led the man to prefer some other brand.
Lamb looked up from his figuring with an expression so troubled that his older friend, groping as men will do for cheering words, hit upon the idea