The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-01-09

tie Augie Belmont, who never originated
anything in his life, and whose caution
would not let him carry out any great un-
dertakng, was showed to the front by the
Rothschids, who saw chance 10 make
few millions out OF the new bond issue. The
Rothschilds had not received what they
thought was their Just due in the matter
of the former loan and they were rather
anxious to get in on the ground moor when
the s., 0o0. go were foated. But Augie could
do nothing. I'VE can't do anything without
Morgan" the bankers said TO Augie GO
see him. IL he says the word we VIII go In
You knew Augie would be after you. ana
you were prepared. You took him back TO
Washington and had conference with Mr.
Carlisle. But you could get no satisfaction
out OF Mr.. Carlisle. and finally refused 10
treat with him. limiting this TO your law
yer. Francis Lynde Stetson. You sat down
and waited day two. Then Mr. Stetson
informed you that the President would like
to see you.
MORGAN WINS HIS POINT.
1t has been said that there was a diff
ference OF opinion to the price at which
the bonds were to be sold. OF course. you
and 1 know the contrary. Mr.. Carlisle and
the President simply said that they ought
to be sold at premium sufficient to make
the annual interest only per cent, while
you, just simply. said that you would
not buy them at any price that would re-
duce the interest below 3l2 per cent Caii
that difference, of opinion? Nonsense.
You simply stated your ultimatum. When
IL was all settled and you had advertised
for bids the time came TO prepare Tor the
most glorious moment in your life You
had organized two syndicateS-a bond syn
dictate and gold syndicate You and Au-
gle Belmont were members or BOTH Al
the head of the gold syndicate were seven
or eight bank presidents, among them j.
Edward Simmons Frederick d. Tappen. Ste
phen Baker ana others equally we'll known,
who were to furnish the gold-twice as
much ss the amount of bonds bid for by
ceive an obligation from the bond syndicate
securing them the return of their principal
in currency and the proportionate share OF
the profits. AS to the profits, they were, or
course, conjectural.
Well Doctor. you caught 'em going and
coming. You played both ends against the
middle, whipsawed your horses and cinched
every corner. Do you remember the morn
ing of the day the public was invited to
call at your bank to subscribe for the
thought a panic ragged at Broad and Wall
streets. The mails had brought In subscrip-
tons amounting to many millions more than
the whole issue, and here was pushing,
of rich citizens struggling TO get in your
door TO help you out of some of your profits.
You could have sold $oOO,Oco,OOO of bonds as
You remained in your private. office as
long as possible, trying to keep down your
elation, but, unable TO resist an impulse OF
yourself to the throng. For a full minute
you stood on the threshold. / have heard
old bankers and men of the street say that
1t was the only time they had ever seen
yon exultant. Your immobile face was
lighted up with strange fires, your eyes
shone with brilliance born of inward sat
isfaction. You stood there with men at
your feet ciamoring for a chance to help
you save your country. Not since the call
to arms in 1861 had there been such show
of patriotism. Al. Doctor. 1t was proud
crown IF your life's work. You had saved
the state. and the President and his Sec
retafy o. the Treasury were on their knees
to you.
Nobody except the members of the two
syndicates knows what the profits amounted
to OF these bonds. Those who were men,
20 per cent. on their investment. while
others ranged down from Is TO IA per cent.
l have an idea what your profits were.
of biting, / would offer you 100000 for
them Why, even little Augie Belmont
maze omo s., 100000.
THE STREET GROWING JEALOUS.
Il you we're less powerful in the financial
woriG than you are at this moment there
would be an uprising against You. Do you
know that the street is growing more jeal-
Gus day by day. and that there Is strong
undercurrent pulling against you? No
single man dare attack you and as for a
grOup-Why, We all know that capital Is
more timid than sheep, and must follow a
leader. You are the only leader. Why did
you not go to dine with the President?
Stewart, Woodward and Bacon were his
guests on Friday night, and each had a
kind word for YOU had you been there you
would have been embarrassed by the COM
plimentary illusions to your greatness.
Doctor, the only thing left for us Is to
give you the country and pay you SO much
a year for the privilege of living here.
What are you going TO charge US for this
new issue? How many are you going to
let us have? Do you think ii right that
you should dole them out piecemeai? Is IL
not likely that the rush to get them will
steadily raise the price? If you decide TO
start them at LIP they will go to 120 before
you are through with them. Some of US
little fellows with a few millions would
like to share profits with you. If j SUBJ
scribe for SIC, 900 900 and deposit double that
amount to your credit, in gold, drawn from
the Bank of England. will you sell me 81
0O0.OC0 Of bonds? Have any guarantee that
you will sell me any?
You will make not less than 100000 out
of this new issue If your plans do not mis-
carry.
There are no less than one hundred of
our richest men ready TO go into your blind
pool and leave the question of profits en-
tirely to you. 1 am Informed that you have
in sight over $500 900 for this new bond
purchase and sale. You have done more to
avert war between America and England
than any thousand men in this country. You
have sold so many American securities
abroad that the foreigners own a large part
of us and it is to their interest TO prevent
a rupture that would depreciate values.