a pickled old goat who spent his hours hanging around the courthouse across the street sniffing for
gossip and drinking bourbon with a small club of washed-up lawyers too old and too drunk to practice
anymore. As I would soon learn, Baggy was too lazy to check sources and dig for anything interesting,
and it was not unusual for his front page story to be some dull account of a boundary dispute or a wife
beating.
Margaret, the secretary, was a fine Christian lady who ran the place, though she was smart enough to
allow Spot to think he was the boss. She was in her early fifties and had worked there for twenty years.
She was the rock, the anchor, and everything at the Times revolved around her. Margaret was soft-
spoken, almost shy, and from day one was completely intimidated by me because I was from Memphis
and had gone to school up North for five years. I was careful not to wear my Ivy Leagueness on my
shoulder, but at the same time I wanted these rural Mississippians to know that I had been superbly
educated.
She and I became gossiping pals, and after a week she confirmed what I already suspected—that Mr.
Caudle was indeed crazy, and that the newspaper was indeed in dire financial straits. But, she said, the
Caudles have family money!
It would be years before I understood this mystery.
In Mississippi, family money was not to be confused with wealth. It had nothing to do with cash or other
assets. Family money was a status, obtained by someone who was white, somewhat educated beyond
high school, born in a large home with a front porch—preferably one surrounded by cotton or soybean
fields, although this was not mandatory—and partially reared by a beloved black maid named Bessie or
Pearl, partially reared by doting grandparents who once owned the ancestors of Bessie or Pearl, and
lectured from birth on the stringent social graces of a privileged people. Acreage and trust funds helped
somewhat, but Mississippi was full of insolvent blue bloods who inherited the status of family money. It
could not be earned. It had to be handed down at birth.
When I talked to the Caudle family lawyer, he explained, rather succinctly, the real value of their family
money. "They're as poor as Job's turkey," he said as I sat deep in a worn leather chair and looked up at
him across his wide and ancient mahogany desk. His name was Walter Sullivan, of the prestigious
Sullivan & O'Hara firm. Prestigious for Ford County—seven lawyers. He studied the bankruptcy
petition and rambled on about the Caudles and the money they used to have and how foolish they'd been
in running a once profitable paper into the ground. He'd represented them for thirty years, and back
when Miss Emma ran things the Times had five thousand subscribers and pages filled with
advertisements. She kept a $500,000 certificate of deposit at Security Bank, just for a rainy day.
Then her husband died, and she remarried a local alcoholic twenty years her junior. When sober, he was
semiliterate and fancied himself as a tortured poet and essayist. Miss Emma loved him dearly and
installed him as coeditor, a position he used to write long editorials blasting everything that moved in
Ford County. It was the beginning of the end. Spot hated his new stepfather, the feelings were mutual,
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