Abel did not speak, partly because he.could not think of what to say.
They sat staring at each other for several minutes, then after another glass of bourbon, he managed, 'But you still own eleven hotels!
'Used to own,' said Davis Leroy. 'Have to put it in the past tense now, Abel. I no longer own any of them; the bank took possession of the freeholds last Thursday.'
'But they belong to you, they have been in your family for two generations,' said Abel.
'They were, They aren't any longer. Now they belong to a bank. There's no reason why you shouldn't know the whole truth, Abel; the same thing's happening to almost everyone in America right now, big or small. About ten years ago I borrowed two million dollars using the hotels as collateral and invested the money right across the board in stocks and bonds, fairly conservatively and in well - established companies. I built the capital up to nearly five million, which was one of the reasons the hotel losses'never bothered me too much - they were always tax deductible against the profit I was making in the market. Today I couldn't give those shares away. We may as well use them as toilet paper in the eleven hotels. For the last three weeks I've been selling as fast as'I can, but there are no buyers left. Ile bank foreclosed on my loan last Thursday? Abel couldnt help remembering that it was on a Thursday when he spoke to the banker. 'Most people who are affected by the crash have only pieces of paper to cover their loans, but in my case the bank who backed me has the deeds on the eleven hotels as security against their original loan.
So when the bottom dropped out, they immediately took possession of them.
The bastards have let me know that they intend to sell the group as quickly as possible!
'T'hat's madness. Theyll get nothing for them right now, and if they supported us through this period, together we could show them a good return on their investment!
'I know you could, Abel, but they have my past record to throw back in my face. I went up to their main office to sug gest just that. I explained about you and told them I would put all my time into the group if they would give us their backing, but they werent interested. They fobbed me off with some smooth young puppy who had a the text book answers about cash flows, no capital base and credit restric tions. By God, if I ever ge ' t back, I'll screw him personally and then his bank. Right now the best thing we can do is get ourselves uproariously drunk, because I am finished, penni less, bankrupt!
'I'llen so am I,' said Abel quietly.
'No, you have a great future ahead of you, son. Anyone who takes over this group couldret make a move without you!
'You forget that I own twenty - five per cent of the group!
Davis Leroy stared at him It was obvious that that fact had slipped his mind.
'Oh my God, Abel, I hope you didn't put all your money into me.'His voice was becoming thick.
'Every last cent,' said Abel. 'But I don't regret it, Davis. Better to lose with a wise man than win with a fool! He poured himself another bourbon.
The tears were standing in the comers of Davis Leroy's eyes. 'You know, Abel, you're the best friend a man could ask for. You knock this hotel into shape, you invest your own money, I make you penniless, and you don't even complain, and then for good measure my daughter refuses to marry YOU.
Tou didn't mind me asking herT said Abel, less increddlous than he would have been without the bourbon.
'Silly little bitch, doesn't know a good thing when she sees one. She wants to marry some horse - breeding gentleman from the South with three Confederate generals in his fan - lily tree or if she does marry a Northerner, his great grandfather has to have come over on The Mayflower.
If everyone who claims they had a relative on that boat were ever on board together, the whole damn thing would have sunk a thousand times before it reach America. Too bad I don!t have another daughter for you, Abel. No one has served me more loyally than you have.
I sure would have been proud to have you as a member of the family. You and I would have made a great team, but I still reckon you can beat them all by yourself. You're young, you still have everything ahead of you.'
At twenty - three Abel suddenly felt very old.
'Thank you for your confidence, Davis,' he said, 'and who gives a damn for the stock market anyway? You know, you're the best friend I ever had.' The drink was beginning to talk.
Abel poured himself yet another bourbon and threw it down. Between them they had finished both bottles by early morning. When Davis fell asleep in his chair, Abel managed to stagger down to the tenth floor, undress and collapse on to his own bed. He was awakened from a heavy sleep by a loud banging on the door. His head was going round and round, but the banging went on and on, louder and louder. Somehow he managed to get himself off the bed and grope his way to the door. It was a bellboy.