The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1907-09-08

General Manager Graham of the In
ternational and Universal Match Cor
poration, commonly known as the
match trust, stood looking at the tape
as it ran from the stock ticker with a
troubled expression on his face. AL
ready that day it marked a decline of
five points in the stock of his great
company. That drop meant a loss of
A round million dollars in the market
value of the twenty-million dollar
stock. Also it might mean the loss of
his position. Already some of the di-
rectors were beginning to complain
that he was a poor manager.
An office boy laid the evening paper
on Graham's desk and the general
manager walked over and picked il up.
A sensational heading on the first page
caught his eye. ITO Fight the Trust"
1t said Independent Match Company
of Manotowish Opens Local Headquar-
ters. Big Drop in Trust Securities
and Bitter Struggle in Prospect"
For three years the Independent
Match Company had been a thorn in
the side of Graham. Within month
of the absorption of all the existing
match factories by the International
and Universal Corporation the indie
pendent company had opened it's plant
up in the sawmill country of Wisconsin,
where the raw material for it's product
was cheap and plentiful From the
first and up to the present il had con-
fined its efforts in the line of selling
To the state of Wisconsin. Graham had
started in to fight 1t from the moment
he first saw the announcement of its
Incorporation. He had cut prices on
matches publicly and had given large
secret rebates to jObbers buying in car
load lots. Every move he made had
been Immediately met by the Independ-
ent company Sometimes. indeed. his
moves had been anticipated. And ev-
cry time ne struck a blow at the In
dependent there had come from some
mysterious source a fierce attack on
the stock of his company, both on the
New York and Chicago exchanges 1t
was the most pUzzling and aggravating
competition he had ever been called on
10 meet.
President Oldham of the International
and Universal corpora ton walked into
Graham's office Oldham was a cor
pOratiOn lawyer who had drifted into
the promoting Of large corporations.
He was also known as a daring stock
exchange operator. Graham appealed
10 him
We've got to do something to those
Independent people up at ManOtOwish,"
he sale. They're simply raising the
devil with us. Preferred is down five
points again today and the Independ-
ent announces they are going to open
local offices"
Il wouldn't worry about them" an
swered Oldham, Tipping the ashes
from his long black cigar. They've
only got capital of 100000 and they're
sure 20 go broke soon"
They've been going ahead steadily
for three years now" said Graham,
and instead Of busting they're open
ing up new territory all the time
Well, go after EN-. then. Co after
EN-. Sue the company. Sue the indi-
vidual stockholders. Cut prices some
more Give 'em HI"
Oldham went out of the offices of the
international and Universal and drop
ped In presently at the private room
OF the senior member of a big firm on
the stock exchange.
I suppose you bought me that In
ternational ana Universal stock on the
break tOday?' he said
Yes" the broker answered We
got II ar the low point. The ten thou
sand shares you mad sold short show
you a profit of six dollars a share"
We'll. you can buy me twice as
much now and hold II for a ten-pOfnt
rise" ordered Oldham.
jacobson. chairman of the board of
directors of the International. came
into General Manager Graham's office
shortly after President Oldham had
gone out. jacobson represented the
solid financial interests in the director
ate. He had been put in his present DO
sition 10 watch Oldham and see that
he did not make a stock market foot
bail of the stock of the corporation. He
listened to what Graham had to say
and to the advice given by Oldham,
and sat a few minutes afterward. say
ing nothing and artisticany blowing
smoke rings through his nose.
Il see," he said finally "Well. Won
just turn the preparation of those suits
against the Independent over to Law
yer Thomas and I'll go and see him.
There isn't amy great hurry about
starting them. I'd rather have our
stock stay down where it is now for
while anyhow. I'm tired Of these sud
den ups and downs. When we land on
the Independent company the next time
I want TO put them clear out of bust
ness. I'm tired of these stock jobbing
our-flushes. What do you thing about
turning Peter Potter loose on the job?"
III go and see Potter tomorrow"
said Graham, IF you say so. He's an
expensive proposition, though, you
know"
well, so are these viewpoint drops
in our stock. You just let Potter go
after the Independent people. And
whatever you do, don't say a word
about it to a soul. Oldham mustn't sus-
pect it."