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 “The bank checks up all right, Mr. Longley,” said Todd; “and I find your loans in very good shape—with one exception. You are carrying one very bad bit of paper—one that is so bad that I have been thinking that you surely do not realise the serious position it places you in. I refer to a call loan of $10,000 made to Thomas Merwin. Not only is the amount in excess of the maximum sum the bank can loan any individual legally, but it is absolutely without indorsement or security. Thus you have doubly violated the national banking laws, and have laid yourself open to criminal prosecution by the Government. A report of the matter to the Comptroller of the Currency—which I am bound to make—would, I am sure, result in the matter being turned over to the Department of Justice for action. You see what a serious thing it is.”

Bill Longley was leaning his lengthy, slowly moving frame back in his swivel chair. His hands were clasped behind his head, and he turned a little to look the examiner in the face. The examiner was surprised to see a smile creep about the rugged mouth of the banker, and a kindly twinkle in his light-blue eyes. If he saw the seriousness of the affair, it did not show in his countenance.

“Of course, you don’t know Tom Merwin,” said Longley, almost genially. “Yes, I know about that loan. It hasn’t any security except Tom Merwin’s word. Somehow, I’ve always found that when a man’s