The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1907-11-10

IL really expects to lose.
Herrick. scrawling with his pencil,
threw out a trivial jest. "It would be
almost immoral TO disappoint it,
Il am not speaking frivolously," said
Shinn, with some severity. Il was
never more in earnest in my life. The
speculative public is perfectly able to
take care of itself Who are the specu-
lative public ?-gamblers and stock
brokers-and if a lesson is occa sionally
administered to them, it is no doubt
deserved. 1 speak as a conservative
business man. We have duties to our
stockholders; failing that. we have du-
ties to our wives and children-and to
our friends. Is there any one here who
would see our good friend Tweed
brought to humiliation and ruin, all be-
cause of some abstract theory of duty
to the speculative publicT'
He rose and placed his hand Loyalty
on Tweed's shoulder. Tweed shrank
uncomfortably under the touch, and
crouching lower wrung his great hands
together between his legs.
"Oh. don't mind about me-" he said
in feeble protest. Don't consider me-
But we do consider you, old man."
broke in Welch heartily. And we
consider ourselves too. 1 had the same
idea as you about Valdez-and what
money have saved up I've put into it
and now to be wiped out-with a
family to support-well, it will restrict
me a good deal. And l say, in a case
like that, damn the speculative public;
mans duty is to his own"
Suppose the facts leak out before
the stock can be unloaded?" said Dane.
THAT is a risk we must take.
don't think there is much danger. The
mine itself is too remote. There are
brokers dpnand nan
sell through half a dozen and buy in
through Herrick, and people will think
the insiders are buying; if we work it
skilfully we can hold up the price. But
we must be cautious. We must not
drop a hint to any one"
Tweed, whose face had been show
ing symptoms of returning distress,
put a trembling hand up to his collar
to loosen it. Then he took out his
handkerchief and wiped his forehead.
When he spoke it was with an anxiety
which left him short of breath.
Il suppose the idea is for each one
to turn in his stock certificates, in
dorsed, and also his margin accounts?"
That would be my suggestion" an
swercd WEIGH. And then have every
body fare pro rata
Yes" said Tweed, and he again bent
over, clasping and unclasping his
| hands.
Paul Herrick turned towards the
chairman.
Mr.. Dane he said abruptly, Il am
sure we should like to know what you
think about this scheme"
las 1 understand it," Dane answered,
tossing his cigar into the fireplace,
the duty of the chair is not to take
part in discussion, but to keep it from
wandering. After discussion has ex-
hausted itself, if the chair has any
| thing to add, that is his privilege. We
have not heard your views on this
matter, Mr.. Herrick"
The young man rose and stood defer
entially, with his hands clasped behind
his back; there was something boyish
and appealing in the attitude of the
slim figure; the hesitation with which
ne began to speak was appealing also.
1T seems to me-" he said, that
were facing a big temptation. I'm
sorry for everybody in this room-I' m
especially sorry for Mr.. Tweed, be-
cause he seems to be the hardest hit;
I'm sorry for myself, because I've been
specula ting in the stock more than
like to say, and if it's worthless I'll
probably have to make an assignment
But IL doesn't make any difference
how sorry we feel for ourselves or for
one another we all of us know what
right. And we can talk all we please
about our having duties to ourselves
and our families and none to the specu-
lative public, but we can't deceive our
selves in the least. What we've been
contemplating in this room the last
half hour is conspiracy and fraud"
The ugly words rang out with sharp
distinctness; both Shinn and WEIGH
started in their seats. Herrick, flushed,
with his eyes shining in bright de-
fiance, sat down. Caspar Dane raised
his hand and strOked his upper lip
thoughtfuliy.
Then Tweed arose. His face had I'M
dergOne another change; the distress
that had been so acute and apparent
a few moments before had given place
to a tremulous shining eagerness.
Il believe Mr.. Herrick is right, -
he said earnestly. Il KNOW know
you propose this scheme as much as
anything else to help me-and I'm
mighty grateful to you for it; it was a
friendly thing But it was wrong; /
can see that now-and l guess the best
thing after all is to take our medicine.
Maybe I'll be able to pull through;
anyway, after the first shock it don't
seem so bad. Let's not do anything
that may be a reproach to u.s."
Welch gave a short, hard laugh.
AT least, Mr.. Tweed" he said, "il
you have conscientious scruples which
prevent you from protecting yourself
from loss, l hope you will let your
friends follow the dictates of their own
cOnscienCes, should these differ from
yours"
You mean-?" lived said
Exactly" replied WEIGH. Silence.
Just that
Yes" Tweed hesitated only a mo-
ment. Yes, l would surely promise
that"
Then" said Herrick, sitting forward
and folding his arms upon the table.
''it is more than L will do. The mo-
ment this meeting adjourns l shall
make known the facts about the Val
DEE mine-on the exchange, in the
street. Every newspaper shall have
them. and l will do everything in my
power to prevent this fraud"
WEIGH started from his seat, ex-
claiming: You will" But Dane rose
also. rapping loudly on the table.
Gentlemen" said Dane in a quiet
voice, Il fear 1 have been wasting your
valuable time. | trust you will forgive
my little jest. The Valdez mine is all
right. and l am prepared to recommend
dividend payment"
What" cried Welch, and then he
dropped back in his chair, muttering
Thank GoGu'
Shinn and Herrick gazed at Dane in
a stunned silence; Tweed his face liv-
id and contorted, his eyes wild with an
unbeleying fright rose trembling