Chapter XIII Summary and Analysis

Now Livingston is flat broke, and becomes ill besides. He is no condition to trade and wonders how he could make such a terrible series of mistakes. He goes to Chicago to recover. He finds a small stake there from trading houses that still believe in him, and very slowly begins to build up his assets.

Back in New York, Daniel Williamson offers Livingston $25,000 as a stake, if Livingston will open a brokerage account with his firm. The brokerage needs Livingston to cover for the activities of some well-known clients. Livingston agrees. He quickly makes back the stake and offers to reimburse Williamson. Williamson demurs. Livingston comes to regret not insisting, as Williamson calls in favors, asking Livingston to do or not do certain trades. After several years, Livingston realizes he is being used by Williamson to protect his...