In spite of the panic, more and more people were coming to Oakland right along. Movements were already beginning in real estate. He was dickering even then to sell over a thousand of his suburban acres. Of course it was at a sacrifice, but it would ease the strain on all of them and bolster up the faint-hearted. That was the trouble--the faint-hearts. Had there been no faint-hearts there would have been no panic. There was that Eastern syndicate, negotiating with him now to take the majority of the stock in the Sierra and Salvador Power Company off his hands. That showed confidence that better times were at hand.
And if it was not cheery discourse, but prayer and entreaty or show down and fight on the part of the banks, Daylight had to counter in kind.
If they could bully, he could bully. If the favor he asked were refused, it became the thing he demanded. And when it came down to raw and naked fighting, with the last veil of sentiment or illusion torn off, he could take their breaths away.
But he knew, also, how and when to give in. When he saw the wall shaking and crumbling irretrievably at a particular place, he patched it up with sops of cash from his three cash-earning companies. If the banks went, he went too. It was a case of their having to hold out. If they smashed and all the collateral they held of his was thrown on the chaotic market, it would be the end. And so it was, as the time passed, that on occasion his red motor-car carried, in addition to the daily cash, the most gilt-edged securities he possessed; namely, the Ferry Company, United Water and Consolidated Railways. But he did this reluctantly, fighting inch by inch.
As he told the president of the Merchants San Antonio who made the plea of carrying so many others:--"They're small fry. Let them smash. I'm the king pin here. You've got more money to make out of me than them. Of course, you're carrying too much, and you've got to choose, that's all. It's root hog or die for you or them. I'm too strong to smash. You could only embarrass me and get yourself tangled up. Your way out is to let the small fry go, and I'll lend you a hand to do it."And it was Daylight, also, in this time of financial anarchy, who sized up Simon Dolliver's affairs and lent the hand that sent that rival down in utter failure. The Golden Gate National was the keystone of Dolliver's strength, and to the president of that institution Daylight said:--"Here I've been lending you a hand, and you now in the last ditch, with Dolliver riding on you and me all the time. It don't go. You hear me, it don't go. Dolliver couldn't cough up eleven dollars to save you. Let him get off and walk, and I'll tell you what I'll do. I'll give you the railway nickels for four days--that's forty thousand cash. And on the sixth of the month you can count on twenty thousand more from the Water Company."He shrugged his shoulders. "Take it or leave it. Them's my terms.""It's dog eat dog, and I ain't overlooking any meat that's floating around," Daylight proclaimed that afternoon to Hegan; and Simon Dolliver went the way of the unfortunate in the Great Panic who were caught with plenty of paper and no money.
Daylight's shifts and devices were amazing. Nothing however large or small, passed his keen sight unobserved. The strain he was under was terrific.
He no longer ate lunch. The days were too short, and his noon hours and his office were as crowded as at any other time. By the end of the day he was exhausted, and, as never before, he sought relief behind his wall of alcoholic inhibition. Straight to his hotel he was driven, and straight to his rooms he went, where immediately was mixed for him the first of a series of double Martinis. By dinner, his brain was well clouded and the panic forgotten. By bedtime, with the assistance of Scotch whiskey, he was full--not violently nor uproariously full, nor stupefied, but merely well under the influence of a pleasant and mild anesthetic.
Next morning he awoke with parched lips and mouth, and with sensations of heaviness in his head which quickly passed away. By eight o'clock he was at his desk, buckled down to the fight, by ten o'clock on his personal round of the banks, and after that, without a moment's cessation, till nightfall, he was handling the knotty tangles of industry, finance, and human nature that crowded upon him. And with nightfall it was back to the hotel, the double Martinis and the Scotch; and this was his program day after day until the days ran into weeks.
