Kingsbury County independent. (DeSmet, Kingsbury County, S.D.) 1894-1929, 1906-11-23
XII.
WHEN A MAN is NOT A MAN.

walters entered. lie was one VI the
great railway presidents, was unlver.
sally regarded as a power, though /, Of
course, knew that he, like so many
other presidents Of railways. of indi-
vidual corporations, of banks, or IN
surance companies, and high political
officials in cities, states and the ma
ton, was little more than a ~figurehead
put up and used by the inside financial
ring. AS he shifted from leg to leg,
holding his hat and trying to steady
his t~witching upper lip, he looked as
one of his smallest section bosses would
have looked, if called up for a wiggtng.
Roebuck shook hands cordially with
him, responded to his nervous glance
at me with: Blackjack is practically
buck began in his kindliest tone:
I'VE have decided. Walters, that we
must give your place to a stronger
a 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 AVE been expected
in the natural fluctuations of freight.
We calculated on resuming dividends
a year ago We nave barely been able
to meet the interest on our bonds
But, Mr.. Roebuck,' pleaded Wal
ters, you doubled the bonded indebted
ness of the road just before 1 ooh
charge
THE money went into improvements,
into increasing your facilities, did it
not|" inquired Roebuck, his paw as
soft as a playful tigers.
Part of it." said Walters. But you
remember the ~reorganizing syndicate
got five millions, and her the con-
tracts for the new work had to be Civ
en- to construction companies in which
directors of the road were silent part
ners. Then they are interested in the
supply companies from which / must
buy. You know what all that means,
Mr.. Roebuck."
No doubt" said Roebuck, still
smooth and soft. But If there was
waste, you should have reported"
IT whom?" demanded Walters.
Every one of our directors, including
yourself, Mr.. Roebuck, is a stakeholder
large stockholder-in one or more
OF those companies"
Have you proof of this, Walters?"
asked Roebuck, looking profoundly
shocked; It's a very grave c~harge-a
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 q
nervous laugh. "As for the holdings of
in construction and supply
companies-most of those holdings are
in other names-all of them are dis
gulsed where the connection is direct"
Roebuck shook his head sadly. you
admit, then, that you have allowed
of h roads money to be
that you made no complaint.
no effort to stop the waste; and your
defense is that you suspect the
directors OF fraud. And you accuse
them to excuse yourself-accuse them
WIN no proof Were you in any of
those companies, Walters?"
mo" he said. his eyes shifting.
Roebuck's face grew stern .You
bought 100000 Of the last issra Of
government bonds, they tell me, with
your two years profits from the West
ern halfway Construction ma
Il bought no bonds" clustered Wal
Lers. What money | have / made out
Of specializing in the stock OF NV road
legitimate inside information"
Your uncle in Wilkesbarre, l meant"
pursued Roebuck.
Walters REDEEMED, looked straight at
Roebuck without speaking.
DO you still deny?" demanded Roe
Il saw everybody everybody
srafting,, said Walters boldly, and I
louShI might as we'll take my share.
part of the business. Then he
added cynically: That's the way it is
nowadays. The lower ones see the
ones raking off, and they rake
III, too-down TO conductors and brake
We caught some trackwalkers in
l conspiracy to dispose of the dis
ties and rails the other day
he aughed. I'VE jailed them"
IF you can show that any director
las taken anything that did not belong
% MIN. II you can show that q single
contract you let to a con-
'tructlon or a supply ompan
except, of course, the contracts Won
TO yourself-of them | know
lothing, suspect much-if you can
snow one instance Of these criminal
longs, Mr.. Walters, / shall back Won
I'D with all my power in prosecution,
of course | can't snow it," cried
IF tried, wouldn't thew ruin
disgrace me, perhaps send me to
he penitentiary? Wasn't / the one
hat passed on and signed their con-
racts? Ard wouldn't they-wouIdn,t
Mr.. Roebuck-have fired me If T
refused to sign?"
Continued Next Week1