‘Luke embezzles 600G,’ wrote Sam. ‘Nobody the wiser.’
‘Of course he didn’t do it all at once. He started in a small way, borrowing the money, playing the market, doubling the money and putting back what he owed. Then he became more confident, and when he thought he had a foolproof racket, he became overconfident. When the
Crash caught him with his pants down he had all six hundred grand out in the field.’
‘Luke wiped out,’ commented Sam’s pen. ‘Owes Trust 600G.’
‘He then panicked and started borrowing to try to win back what he’d lost, but that all went on the Monday after Black Thursday. He could only get money on twenty-four-hour loan so he raised a new lot of loans to pay off the earlier ones and gamble again on the market – and of course the next day was Tragic Tuesday—’
‘Luke at the end of 2nd 24-hr loans with no loot in sight,’ wrote Sam.
‘—and that was when he finally faced reality and turned to the partners to help him out. Lewis, as you know, got the consolidated loan extended to twenty-eight days, and here we all are. Now this is the position: the million-plus loan which is outstanding represents money borrowed on the strength of the Van Zale name in an unsuccessful attempt to recoup the six hundred grand. I propose that I borrow that amount from the bank, use it to meet Luke’s debts and pay it back with interest over a period of ten years. There’s nothing shady about that. Luke borrowed the money in the usual straightforward fashion and I’m paying his debts for him. But the other money – the stolen Trust money – is in a different league. It has to be accounted for, and if it’s not represented by stock in the Van Zale Participations portfolio then it has to turn up again on deposit at the bank. The only foolproof way to conceal the embezzlement is to wind up the trust by buying out all the shareholders so that in theory they get their money back. In practice they won’t – all the investment trusts went down with a thump in the Crash. Well, that’s tough on the investors, but they’ll be so grateful their shares aren’t entirely worthless that I think they’ll be ready to cash in their chips, and once the Trust is wound up and the books are closed we can breathe freely again.’
There was a pause. Sam wrote: ‘Bank goes into market to buy up all the shares?’ and sat looking doubtfully at it.
‘I think all the partners will agree,’ said Steve impassively, ‘that the bank shouldn’t be directly involved in this salvage attempt. The fewer links between the bank and the trust the better at this stage of the game. What we really want is for one of the partners acting as a private individual to finance the winding up of the trust.’
There was another long pause while Sam wrote: ‘Enter P.C.V.Z. with cheque-book on shining white horse.’
‘How much money would you say was needed?’ I asked ingenuously.
‘Now that the shares are worth very little I reckon we could wrap it up for around three million dollars.’
‘And of course,’ said Lewis, smiling benignly at me, ‘there’s really only one partner who has that kind of money to spare.’
We went over the whole story again and tried to figure out other solutions but always we were haunted by the spectre of Luke’s embezzlement.
‘What you’re really asking me to do,’ I said, standing up and moving to the window, ‘is to sustain a loss which should be shared equally by all the other partners – or preferably unequally by Steve.’
‘Sonny, I’ve got
my hands full paying back Luke’s debts!’
I whirled around on him. ‘My name is Cornelius Van Zale and in future you’ll call me by my name.’
‘My dear boy—’ spluttered Lewis.
‘You too!’ I snapped at him, and as Sam’s glance met mine the signal passed between us, the signal of two acrobats pirouetting to their grand finale on the high wire. As Sam started to speak I spun away from them again and stared moodily out of the window.
‘I think Cornelius has a right to be upset,’ he said in a quiet reasonable voice. It seemed odd to hear him refer to me as Cornelius when he always called me Neil. ‘I know you’re making yourself responsible for part of the money, Steve, but those debts of Luke’s are legal. It’s Cornelius who’s providing the money to cover up the embezzlement. No matter how foolproof your scheme is he’ll be taking a certain amount of risk. I think Cornelius has the right to be
very
upset.’
I stood there looking upset. Neither Lewis nor Steve spoke. Presently Sam said: ‘I think there should be some give and take here, I really do. It’s just not fair on poor Cornelius otherwise.’
Poor Cornelius hunched his shoulders bitterly. The silence continued.
‘Of course it’s not the actual money he minds,’ said Sam. ‘It’s the principle involved. I’m sure you both understand – after all, we’re all gentlemen here. We wouldn’t want Cornelius to make such a sacrifice without getting any compensation, would we? It just wouldn’t be right.’
Lewis cleared his throat. ‘I’m sure Cornelius realizes that for the good of the firm we all have to make little sacrifices occasionally.’
‘Little sacrifices?’ Sam said sorrowfully. ‘Three million dollars?’
We waited. Finally Lewis mumbled: ‘A nicer office, perhaps … larger share of the profits—’
I spun round a second time. ‘
This
office,’ I said. ‘Paul’s office. And I want as much money as you and Steve.’
Lewis went a deep red, glanced wildly from Sam to me and back again, and finally turned in panic to Steve.
Steve was pale but calm. ‘The other partners would never stand for it,’ he said.
‘So what?’ I said insolently. ‘We three are the ones who count. If Clay and Martin don’t like it they can move elsewhere and if Walter doesn’t like it he can retire. Tom doesn’t count because he’s only been here since Charley died – he’ll do what you tell him, Lewis, and so will Hal. Hal’s been away too long to have any clout here at One Willow Street. That gives us a majority to dissolve the partnership and re-form it exactly as the three of us wish. The two of you can be joint senior partners—’ I thought it was cunning to emphasize this attractive titbit to Steve ‘—and officially I won’t try to join you; I know I am too young for the title at present. But don’t forget that when the new partnership agreement’s drawn up I want the same powers as you two and the same slice of the profits.’
‘“Joint senior partner” would be nice, Steve,’ said Sam winningly, picking up
my cue, and added to soothe Lewis: ‘Cornelius doesn’t want any overt sweeping changes, just a reasonable compromise which is acceptable to everyone, and under this new arrangement all three of you benefit. Lewis has more stability as senior partner than he had before, Steve gains a title he didn’t have and Cornelius has a fair share of Van Zale’s at last. I think it’s a wonderful idea.’
‘For God’s sake shut up, Sam,’ said Steve wearily. ‘Lewis and I are grown men, not kids of six.’
‘I’m not giving up this office,’ said Lewis, cross as any six-year-old.
This was the concession I had been prepared to make to seal the deal. I gave Sam a barely perceptible nod, but just as Sam was opening his mouth to say: ‘There, there!’ Steve said in his most exhausted voice: ‘Relax, Lewis, the office is peanuts and Cornelius knows it. You can stay here.’
Lewis looked relieved.
‘But I’m going to share it with you,’ said Steve, suddenly as strong as a two-ton pick-up truck. ‘We’ll share it, just as Jay and Paul shared it when they were joint senior partners.’
Now it was my turn to panic. I looked at Sam and saw he was looking equally panic-stricken at me. I turned to Steve and saw there was a gleam in his eyes. The high wire began to wobble beneath my unsteady feet.
‘Pardon me, Steve,’ I said stiff-lipped, ‘but I always understood that you’d be returning to the London office as soon as this crisis was over. After all, we mustn’t forget our plans for expansion in Europe …’ My voice trailed away.
Steve gave me a lazy indulgent smile. The lion had seen the choicest of preys and was closing in for dinner.
‘We’ll hire a man with first-class European experience to handle the London office,’ he said. ‘No problem. But I can see I’ve no choice but to stay in New York. After all, these are bad, bad times. How could I, a senior partner – incidentally, thanks for the title – run off to Europe and leave the rest of you to cope with the aftermath of the Crash? I mustn’t shirk my responsibilities!’ Rising to his feet he padded over to Lewis and patted him fondly on the shoulder. ‘“Now is the time for all good men!”’ he quoted triumphantly. ‘We’ll manage, won’t we, Lewis?’
Lewis suddenly realized what was happening and looked relieved. He patted Steve back playfully. ‘We’ll manage!’ he said, as they both turned with a smirk to present their united front to me.
Steve had lost a battle but won the war. I moved closer to Sam in a mute appeal for help.
‘Well, gentlemen,’ said Sam in a businesslike voice, ‘may I congratulate you on your agreement? Perhaps I should just outline the salient points …’ He read aloud from his notes. Finally he concluded: ‘I suggest we leave it there for today and work out the exact details tomorrow morning. I know Cornelius has an important meeting at four o’clock.’
I had. With him. We got to my office and collapsed. ‘Oh God!’ I groaned in despair. ‘Why did I have to suggest he became joint senior partner?’
‘He wouldn’t
have settled for less. You did well, Neil. You got the share of power you wanted and your bargaining base wasn’t really too strong. I know it suits them for you to wind up the Trust, but at a pinch they could have the bank do it. And anyway we should have figured out that Steve would be through with Europe after his row with Dinah Slade. Bearing that in mind the outcome of the meeting wasn’t too surprising.’
‘But it was disastrous! What’s the good of having the same powers as those two when they’re sitting here like Siamese twins in New York and outvoting me on every manoeuvre? I can cope with that fool Lewis but how am I going to live with Steve? It’ll be all hell on earth here at Willow and Wall!’
Sam said there was bound to be some solution and told me not to worry but I proceeded to worry myself into a frenzy. At eight o’clock I was in such a state that I called Vivienne and demanded to see her immediately. I had been sleeping with her every night since the collapse of the market, and during the aftermath of the Crash the one ray of sunshine in the bleak landscape had been my superb sex-life.
‘But darling!’ objected Vivienne. ‘I’ve got fifteen people to dinner and the footmen have just brought in the roast duck! Let me come over to Fifth Avenue as soon as everyone’s gone.’
‘But I’ve got to see you! I’m desperate! I – I – I—’ I flailed around for the winning phrase. ‘I love you!’ I said wildly, and dashed out of the house.
Vivienne came out of the dining-room to meet me as I was shown into the hall. ‘Darling, I’m sure you don’t want to bother with these people – wait upstairs.’
‘Come with me!’
‘In the middle of dessert?’
‘All right. We’re finished.’ I tried to walk out but she grabbed my arm.
‘My God! Cornelius – darling – please! All right, come along – yes, I’ll come with you. I can’t have you rushing out into the night in such a terrible state.’
I made love with a violent brevity and afterwards crawled between the sheets, curled myself into a foetal position and pulled the quilt over my head. When Vivienne returned from the bathroom she wisely made no effort to disturb me but said she would return as soon as the guests had left.
When I was alone I tried in despair to analyse my behaviour. I knew Steve was responsible. Every time we clashed I felt as if he had punched me in the genitals, so that afterwards I was driven to prove to myself that my genitals were still intact. The thought of Steve made me feel ill. Shuddering I took a shower, pulled on my pants and sat on the edge of the bed while I smoked a cigarette.
I wondered if I could escape to the London office, but I was too young and I had no European experience. I might have been ambitious but I was not foolhardy and I never sought advancement until I was sure I could handle the work. Besides I had no desire to go to Europe. I had just spent three and a half laborious years growing accustomed to New York, and the thought of beginning again not only in a different city but in a different
country was appalling to me. Also I felt no kinship with Europe, and the emotional ties which linked so many of my countrymen to the continent of their forefathers were ones which I myself had never experienced. I had no known relations there. I was truly an American, born in the heart of America, bred exclusively in American traditions and loyal only to my American heritage. Naturally there were aspects of European culture which I admired, and naturally I was interested in European history insofar as it affected the history of the United States; I was no ignoramus from a hick town. However it remained a mystery to me why people admired European civilization so much when Europe had never been able to achieve in a millennium the united democratic federation which America had won within two centuries, and in my opinion Europe’s perpetual discord compared poorly with American harmony since the Civil War. Certainly I thought it was monstrous that when the European nations had succeeded in fighting themselves to a standstill in the bloodiest war of all time they had had the nerve to ask
us
to help them out. I did see that economically America had had no choice but to put their tiresome house in order, but it made me angry to think of all the American soldiers buried in foreign graves as the result of European depravity.
I had just made up my mind that I would prefer to stay in New York with Steve than go into exile in Europe when Vivienne returned.
‘My poor precious! Are you feeling better? I’ve managed to get rid of those frightful people,’ she said, sinking on to the bed beside me, ‘so now I’m all yours.’
An hour later as I was smoking another cigarette I was still trying to work out how Steve and I could pretend to be friends without either of us losing face. Since there was at present no way I could get rid of him it was useless to keep clashing with him, and so until the time came when I was strong enough to reach for the senior partner’s chair we would have to be allies, living in peace. How I could achieve such a major miracle was certainly a challenge to my imagination, but …