Argosy All-Story Weekly, February 5, 1921 — page 54: what you’re looking at

Machine-transcribed from the original scan — historical spelling and the odd misread are preserved.

340 ‘* Anyway, they can change the code,” suggested Bob. ‘They have changed it,” replied Camp- bell, “‘ but there are some things they can't change. And so certain is McKay and his directors that a raid is being planned upon their funds that they have fallen inte something like a panic, and held a board meeting yesterday at which it was decided to get into communication with me.” Bob raised his eyebrows. “You don’t mean to tell me the bank’s going to insure themselves against loss?” ‘That is their idea,” nodded Campbell. “You see, it will take them the greater part of three months to close certain dan- gerous gaps through which the trickster. might be able to crawl. They want us to cover their risk in that three months, and I have seen the Federated: directors, and we ‘have agreed to issue the policy.” “ To any great extent?” Campbell nodded. “To a very large extent,” he said. ‘‘ Of course, every bank has to wnite off a cer- tain amount annually as dead loss from frauds, forgeries, et cetera, and we do not touch what I would call the normal margin of loss sustained .in trading. We have fixed that figure, and above that we are insuring them to the extent of £150,000; and in fact we are considering the advisa- bility of doubling that risk.” Bob shook his head. “And it is a risk, believe me!" he said. “ Here is a man who is obViously broke to the world. He is in the hands of the book- makers, and probably in the hands of money-lenders. Let us suppose that he has also defrauded the bank and is in mortal terror of being discovered. Then, for some reason and by some means, he is ex- posed. I suppose one of the bookmakers wrote to McKay?" Mr. Campbell assented. ‘“‘ Auditors are rushed down, the books are examined, and in the short period be- tween the time he was warned and the time his accounts were examined by ex- perts he is able ‘to raise enough money to satisfy his liabilities, to make good his defalcations—that looks fishy!” ““T agree,” said Camphell. ARGOSY-ALLSTORY WEEKLY. ‘It looks fishy because you cannot raise money, unless you can give some guarantee to. the gentleman who puts up the cash, that you can and will repay him; and even then it is impossible to raise that money unless you have two or three days to ne-s gotiate—unless, of course, Mr. Timmes is negotiating with a bunch of crooks who have been ‘waiting for this opportunity.” ‘That was my suggestion, too,” said the triumphant Mr. Campbell. ‘That doesn’t make it any less likely,” quoth Bob. ‘“ Now, I suggest to you that the man whovlent the money is one of the three—most likely Reddy himself, because Reddy did not earn his nickname solely by reason of his fiery appearance, but be- cause he always had ready cash to pay his dupes and tools. Therefore, knowing that the Big Three are behind this business, I think the policy you have issued is a bad one, and that. you have taken a risk which, in the circumstances, may be described as uncommmercial.”’ Mr. Campbell pinched his lips nervous, ly. A shrewd and even brilliant insurance man, he was not a little influenced by the views of his chief sleuth. ‘ Anyway, I’ve taken the risk,’ he said. ‘What is more—and this will please you —the bank has agreed to pay all expenses you may incur while you are covering this policy.” “ Poor bank!’’ muttered Bob ominously. “Tt may be cheaper for them in the end to be robbed.”’ Brewer made all his plans on the spur of the moment, and had decided his line of action before he rose from the table. Ob- viously, the first business was to discover the name of the bookmaker who had re- ported the defaulting manager. A call upon Mr. McKay the next morn- ing procured this information, together with a great deal of data. McKay, a lit- tle bald-headed man, with a twinkle of humor in his eyes, produced a thick batch of telegrams. ‘These are copies,” he said. ‘I have: secured them from the post-office. They were sent at the time when our friend Timmes was betting like a millionaire. He had two thousand pourds enon; dprseloo im