The citizen-Republican. (Scotland, Bon Homme County, S.D.) 1???-19??, 1906-11-22
WHEN 4 MAN IS NOT A MAN.

Walters entered. He was one of the
great railway presidents, was univer-
sally regarded as a power, though L, OF
course, knew that he. like so many
other presidents of railways, of indi-
vldual corporations, OF banks, of in
sirance companies. and high political
officials in cities, states and the ma
tion. was little more THAI a ~tigurehead
put up and used by the inside financial
ring. AS he shifted from leg to leg,
holding his la n trying to steady
his twitching upper lip, he looked as
one of his smallest section bosses would
have looked, if called up for a wigging.
Roebuck shook hands cordially with
him, responded to his nervous glance
at me with: "Blacklock is practically
in our directory" We all sat, then Roe
buck began in his kindliest tone:
we have decided, Walters, that we
must give our place to a stronger
man. Your gross receipts, outside of
coal. have fallen rapidly and steadily
for the past three quarters. You were
put into the presidency to bring them
up. They have shown no change be-
yond what might have been expected
in the natural fluctuations of freight.
We calculated on resuning dividends
a year ago. We have barely been able
to meet the interest on our bonds"
But, Mr.. Roebuek," pleaded Wal
ters, you doubled the bonded indebted
ness of the Dad just before 1 took
Charge
The money went into improvements,
into increasing % facilities, did it
not?" inquired Roebuck, his paw as
soft as a playful tigers.
Part of it." said Walters, "But you
remember the recognizing syndicate
got five millions, and hen the con-
tracts for the new work had to be Civ
en- to construction companies in which
directors of the road We're silent part
ners. Then they are interested in the
supply companies from which I must
buy. You know what all that a
Mr.. Roebuck."
No doubt" said Roebuck, still
smooth and soft. But if there was
waste, you should have reported-'
To whom" demanded Walters.
Every one of our directors, including
yourself, Mr.. Roebuck, is a s]tockholder
"a large stocllholder-in one or more
of those companies"
Have you proof of this, Walters?"
asked Roebuck, looking profoundly
shocked. ITS a very grave Charge
criminal charge"
"Proof?" said Walters. "You know
how that is. The real books of all big
companies are kept in the memories
OF the directors-and mighty treacher-
Gus memories they are" This with a
nervous laugh. A for the holdings Of
uiiSSNol III tOilSlIu tllol duu SQDDly
companies-most of those holdings are
in OTTER names-all of them are dis
guised where the connection is direct
shook his head sadly. "You
admit, then, that you have allowed
millions of the roads money to be
wasted, that you made 10 complaint,
no effort TO stop the waste; and your
only defense is that you suspect the
directors of fraud. And you accus
them to excuse yourself-accuse them
with no proof. Were you in any of
those companies, Walters?"
No" he said, his eyes shifting.
Roebuck's face grew stern. you
bought 5000, 000 of the last issue of
government bonds, they tell me. with
your two years profits from the West
ern Railway Construction company"
Il bought no bonds" clustered Wal
tiers. What none | lave / made out
of specializing in the stock Of my road
on legitimate inside information"
Your uncle in Wilkesbarre, I meant"
pursued Roebuck.
Walters redeemed, looked straight at
Roebuck without speaking.
DC you still deny?" demanded Roe
buck.
Il saw everybody = everybody
grating, said Walters boldly, and 1
Jnougntl might as well take my share.
It's part of he business. Then he
added cynically: That's the way it is
nowadays. The lower ones see the
higher ones raking off, and they rake
Off, too-down to conductors and brake
men. We caught some t~rackwalkers in
a conspiracy to dispose of the dis
carded ties and rails the other day"
He laughed. we jailed them"
If you can show that any director
has taken anything that did not belong
to him, If you a show that a single
contract 0 let to a con-
struction or a supply company
except, of course, the contracts yon
let to yourself-cf them I know
nothing, suspect much-if you can
show one instance of these riminal
doings, Mr.. Walters, I shall back YOU
up With all my power in prosecutions
of course / can't snow it, cried
Walters. II / tried. wouldn't they ruin
and disgrace me, perhaps send me to
the p~enitentiary? Wasn't 1 the one
that passed on and signed their con
tracts? Ard wouldn't they-wouldn,,
you, Mr.. Roebuck-have fired me if
had refused to sigE?"
Continued Next Week.)
II Was Only a Counterfeit.
Jacob Riis, the soclologist, IN an address.
4 IN q uor1ipcpoaDs ol1,l, ri ,,,a;.al -.