Back in San Francisco, Daylight quickly added to his reputation In ways it was not an enviable reputation. Men were afraid of him. He became known as a fighter, a fiend, a tiger. His play was a ripping and smashing one, and no one knew where or how his next blow would fall. The element of surprise was large. He balked on the unexpected, and, fresh from the wild North, his mind not operating in stereotyped channels, he was able in unusual degree to devise new tricks and stratagems. And once he won the advantage, he pressed it remorselessly. "As relentless as a Red Indian,"was said of him, and it was said truly.
On the other hand, he was known as "square." His word was as good as his bond, and this despite the fact that he accepted nobody's word. He always shied at propositions based on gentlemen's agreements, and a man who ventured his honor as a gentleman, in dealing with Daylight, inevitably was treated to an unpleasant time. Daylight never gave his own word unless he held the whip-hand. It was a case with the other fellow taking it or nothing.
Legitimate investment had no place in Daylight's play. It tied up his money, and reduced the element of risk. It was the gambling side of business that fascinated him, and to play in his slashing manner required that his money must be ready to hand. It was never tied up save for short intervals, for he was principally engaged in turning it over and over, raiding here, there, and everywhere, a veritable pirate of the financial main. A five-per cent safe investment had no attraction for him; but to risk millions in sharp, harsh skirmish, standing to lose everything or to win fifty or a hundred per cent, was the savor of life to him. He played according to the rules of the game, but he played mercilessly. When he got a man or a corporation down and they squealed, he gouged no less hard. Appeals for financial mercy fell on deaf ears. He was a free lance, and had no friendly business associations. Such alliances as were formed from time to time were purely affairs of expediency, and he regarded his allies as men who would give him the double-cross or ruin him if a profitable chance presented.
In spite of this point of view, he was faithful to his allies. But he was faithful just as long as they were and no longer. The treason had to come from them, and then it was 'Ware Daylight.
The business men and financiers of the Pacific coast never forgot the lesson of Charles Klinkner and the California & Altamont Trust Company.
Klinkner was the president. In partnership with Daylight, the pair raided the San Jose Interurban. The powerful Lake Power & Electric Lighting corporation came to the rescue, and Klinkner, seeing what he thought was the opportunity, went over to the enemy in the thick of the pitched battle.
Daylight lost three millions before he was done with it, and before he was done with it he saw the California & Altamont Trust Company hopelessly wrecked, and Charles Klinkner a suicide in a felon's cell. Not only did Daylight lose his grip on San Jose Interurban, but in the crash of his battle front he lost heavily all along the line. It was conceded by those competent to judge that he could have compromised and saved much. But, instead, he deliberately threw up the battle with San Jose Interurban and Lake Power, and, apparently defeated, with Napoleonic suddenness struck at Klinkner. It was the last unexpected thing Klinkner would have dreamed of, and Daylight knew it. He knew, further, that the California & Altamont Trust Company has an intrinsically sound institution, but that just then it was in a precarious condition due to Klinkner's speculations with its money. He knew, also, that in a few months the Trust Company would be more firmly on its feet than ever, thanks to those same speculations, and that if he were to strike he must strike immediately. "It's just that much money in pocket and a whole lot more," he was reported to have said in connection with his heavy losses. "It's just so much insurance against the future.
Henceforth, men who go in with me on deals will think twice before they try to double-cross me, and then some."The reason for his savageness was that he despised the men with whom he played. He had a conviction that not one in a hundred of them was intrinsically square; and as for the square ones, he prophesied that, playing in a crooked game, they were sure to lose and in the long run go broke. His New York experience had opened his eyes. He tore the veils of illusion from the business game, and saw its nakedness. He generalized upon industry and society somewhat as follows:--Society, as organized, was a vast bunco game. There were many hereditary inefficients--men and women who were not weak enough to be confined in feeble-minded homes, but who were not strong enough to be ought else than hewers of wood and drawers of water.
Then there were the fools who took the organized bunco game seriously, honoring and respecting it. They were easy game for the others, who saw clearly and knew the bunco game for what it was.
Work, legitimate work, was the source of all wealth. That was to say, whether it was a sack of potatoes, a grand piano, or a seven-passenger touring car, it came into being only by the performance of work. Where the bunco came in was in the distribution of these things after labor had created them. He failed to see the horny-handed sons of toil enjoying grand pianos or riding in automobiles. How this came about was explained by the bunco. By tens of thousands and hundreds of thousands men sat up nights and schemed how they could get between the workers and the things the workers produced. These schemers were the business men. When they got between the worker and his product, they took a whack out of it for themselves The size of the whack was determined by no rule of equity; but by their own strength and swinishness. It was always a case of "all the traffic can bear." He saw all men in the business game doing this.
