Bullion now met the first check in his career. Kerbstone, whose appeals
for help he had disregarded, and whose property had been wofully
depreciated by the course of the "bears," of whom Bullion was chief,
failed for a large sum. As he was treasurer of the Neversink Mills,
the stockholders and creditors of that corporation made an immediate
investigation of its accounts. Kerbstone was found to be a defaulter
to the amount of hundreds of thousands of dollars; the property was
gone,--undermined like a snow-bank in spring. The largest owner was
Bullion. He was overreached by his own shrewdness; and the hitherto
unlucky "bulls," who had had small cause to laugh, thought that it was
"sport to see the engineer
Hoist with his own petard,"--
better even than to have tossed him on their own horns.
Bullion made some wry faces; but the loss, though great, was not
ruinous. He was obliged, however, to take back the shares of the
factory-stock on which he had obtained loans for his New York
operations, and to substitute an equal amount of other securities,--thus
cramping his resources at a time when he needed every dollar to carry
out his vast plans.
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