London there was an American banking house that has since failed, but
which at this time was doing a large business in the way of issuing
letters of credit. The firm was patronized chiefly by Americans. It
issued credits, or letters of credit, without inquiry, to any one
applying for them. While in London I called at their office, 449 Strand,
and paying $750 was given a credit for L150, which I took under an
assumed name. I wanted this letter to serve as an introduction to some
of the bankers at Frankfort, and to open the way for the negotiation of
the bonds. The Frankfort correspondents of the London firm were Kraut,
Lautner & Co., on the Gallowsgasse. The next morning I repaired to the
office of this firm, and producing my letter was very cordially
received, and invited to make my headquarters in their office during my
stay at Frankfort, which for the next day or two I did. However, I
called on several other bankers, also feeling the way, and finally
selected the firm of Murpurgo & Wiesweller, bankers widely known and of
enormous wealth. I had several talks with Murpurgo, and told him I was
arranging to purchase a number of copper mines in Austria, and if the
deal was closed I should sell a large block of American bonds and use
the cash I realized to pay for the purchase of the mines. I suppose he
thought to make a good thing out of it, and was eager to purchase.

My reader will recall that payment upon all United States bonds payable
to bearer, as mine were, could not be stopped, and so far as the
innocent holder was concerned he was perfectly secure. But the custom
among bankers was, whenever any bonds were lost by theft or fraud, to
send out circulars containing the numbers, asking that the parties
offering them might be questioned and held. But as American bonds were
sold in millions all over the Continent, and were passing freely from
hand to hand, as a matter of fact, little or no attention was paid to
such circulars, but, of course, had strangers of disreputable appearance
offered bonds in large sums, the lists might have been scrutinized and
awkward questions asked. Therefore I felt a trifle nervous, and
determined to run no chance of losing my bonds--at least not all of
them. So I resolved to go to Wiesbaden, some fifteen miles away, stop at
some hotel under a different name, leave the bonds there, and take the
morning train for Frankfort, conduct my negotiations, and return to
Wiesbaden every evening. It was