Brewsters Millions (Paperback)

Book may have numerous typos, missing text, images, or index. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. 1903. Not illustrated. Excerpt: ... CHAPTER XIII A FRIEND IN NEED It was while Brewster was in the depths of despair that his financial affairs had a windfall. One of the banks in which his money was deposited failed and his balance of over $100,000 was wiped out. Mismanagement was the cause and the collapse came on Friday, the thirteenth day of the month. Needless to say it destroyed every vestige of the superstition he may have had regarding Friday and the number thirteen. Brewster had money deposited in five banks, a transaction inspired by the wild hope that one of them might some day suspend operations and thereby prove a legitimate benefit to him. There seemed no prospect that the bank could resume operations, and if the depositors in the end realized twenty cents on the dollar they would be fortunate. Notwithstanding the fact that everybody had considered the institution substantial there were not a few wiseacres who called Brewster a fool and were so unreasonable as to say that he did not know how to handle money. He heard that Miss Drew, in particular, was bitterly sarcastic in referring to his stupidity. This failure caused a tremendous flurry in banking circles. It was but natural that questions concerning the stability of other banks should be asked, and it was not long before many wild, disquieting reports were afloat. Anxious depositors rushed into the big banking institutions and then rushed out again, partially assured that there was no danger. The newspapers sought to allay the fears of the people, but there were many to whom fear became panic. There were short, wild runs on some of the smaller banks* but all were in a fair way to restore confidence when out came the rumor that the Bank of Manhattan Island was in trouble. Colonel Prentiss Drew, railroad magnate, was the president of t...