"A sum of money was suddenly left me. Then for the first time I understood why I had during my boyhood been so periodically sent to see a cross old brother of my mother's, who lived near Cold Spring on the Hudson, and whom we called Uncle Snaggletooth when no one could hear us. Uncle Godfrey (for I have called him by his right name ever since) died and left me what in those old days six years ago was still a large amount. To-day we understand what true riches mean. But in those bygone times six years ago, a million dollars was a sum considerable enough to be still seen, as it were, with the naked eye. That was my bequest from Uncle Godfrey, and I felt myself to be the possessor of a fortune."
At this point in Richard's narrative, a sigh escaped from Ethel.
"I know," he immediately said, "that money is always welcome. But it is certainly some consolation to reflect how slight a loss a million dollars is counted to-day in New York. And I did not lose all of it."
"I met Ethel at the train on her return from Florida, and crossed with her on the ferry from Jersey City to Desbrosses Street. There I was obliged to see her drive away in the carriage with her father."
"Mr. Field," said Mrs. Davenport, "what hour did that train arrive at Jersey City?"
Richard looked surprised. "Why, seven-fifteen P. M.," he replied. "The tenth of March."
"Dark!" Mrs. Davenport exclaimed. "Mr. Field, you and Ethel were engaged before the ferry boat landed at Desbrosses Street."
Richard and Ethel both sat straight up, but remained speechless.
"Pardon my interruption," said Mrs. Davenport, smiling. "I didn't want to miss a single point in this story--do go on!"
Richard was obliged to burst out laughing, in which Ethel, after a moment, followed him, though perhaps less heartily. And as he continued, his blush subsided.
"With my Uncle Godfrey's legacy I was no longer dependent upon my salary, or my pen, or my father's purse; and I decided that with the money properly invested, I could maintain a modest establishment of my own. Ethel agreed with me entirely; and, after a little, we disclosed our plans to our families, and they met with approval. This was in April, and we thought of October or November for the wedding. It seemed long to wait;but it came near being so much longer, that I grow chilly now to think of it."
"Of course, I went steadily on with my work at the office in Nassau Street, nor did I neglect my writing entirely. My attention, however, was now turned to the question of investing my fortune. Just round the corner from our office was the firm of Blake and Beverly, Stocks and Bonds. Thither my steps began frequently to turn. Mr. Beverly had business which brought him every week to the room of our president; and so having a sort of acquaintance with him, I felt it easier to consult him than to seek any other among the brokers, to which class I was a well nigh total stranger. He very kindly consented to be my adviser. I was well pleased to find how much I had underrated the interest-bearing capacity of my windfall. 'Four per cent!' he cried, when I told him this was the extent of my expectations. 'Why, you're talking like a trustee.' And then seeing that his meaning was beyond me, he explained in his bluff, humorous manner. 'All a trustee cares for you know, is his reputation for safety. It's not his own income he's nursing, and so he doesn't care how small he makes it, provided only that his investments would be always called safe. Now there are ways of being safe without spending any trouble or time upon it; and those are the ways a trustee will take. For example,' and here he arose and unhooking a file of current quotations from the wall, placed it in my lap as I sat beside him. 'now here are Government three's selling at 108 3-8. They are as safe as the United States; and if I advised you to buy them, it would cost me no thought, and my character for safety would run no risk of a blemish. That is the sort of bond that a trustee recommends. But see what income it gives you. Roughly speaking, about twenty-eight thousand dollars.'"
"'That would not do at all,' said I, thinking of Ethel and October."
"'Certainly not for you,' returned Mr. Beverly, gaily. If you were a timorous old maid, now, who would really like all her money in her stocking in gold pieces, only she's ashamed to say so! But a young fellow like you with no responsibility, no wife, and butcher's bill--it's quite another thing!'"
"'Quite,' said I, 'oh, quite!'"
"Richard," interrupted Ethel, "do you have to make yourself out so simple?"
"My dear, you forget that I said I should invent nothing, but should keep myself to actual experiences. The part of my story that is coming now is one where I should be very glad to draw upon my imagination."
"Mr. Beverly now ran his finger up and down various columns. 'Here again,' said he, 'is a typical trustee bond, and nets you a few thousand dollars more at present prices. New York Central and Hudson River 3 1-2's. Or here are West Shore 4's at 113 5-8. But you see it scales down to pretty much the same thing. The sort of bond that a trustee will call safe does not bring the owner more than about three and one-half per cent.'"
"'Why, there are some six per cent bonds!' I said; and I pointed them out to him."
