The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1909-08-20

ed Lokes-A consideration for services
MISUNDERSTANDING shertF's sale.
We take the trtck-Thc tail of a snake.
Not a gospel game.
~LOCUM had been after the
nj bondholders' protective COM
I'D mittee Of the London and Chi
cago company. There were on
ly million and half Of bonds out.
which before their smash could be
picked up for less than twenty. Late
", on the runor that one Of the strong
Chicago houses was bidding for them.
their price had risen somewhat. The
hand Of Carmichael working through
one of the smaller corporations con-
trolled by Strauss was plain enough
to one who watched. and l resolved
as the first step in my campaign to
outwit my old boss in this little deal.
From the price Of the bonds it was
evident that Carmichael was Offering
the bondholders about twenty-five for
the control. told Slocum to give for
ty and then arrange to bid the proper
ty in at the sheriff's sale.
The lawyer reported that two Of the
bondholders' committee were favorab BILE
to our terms: they hated the Strauss
crowd, and they We're afraid to wait
for better terms, as money was hard
ening all the time. But the third man,
who had been the treasurer Of the de-
figure. Slocum thought that this man,
whose name was Lokes, might be dick
ering with Carmichael secretly to Sc
cure some favors for himself in the
deal. This Lokes was not unknown to
me. and l considered Slocum's sus-
picions we'll founded He had left be-
hind him in Kansas City a bad name.
and here in Chicago he ran with set
of small politicians. serving as a mid
dleman between them and the hnan-
cial powers who used them. In short,
I knew of but one way to deal with
gentleman like Mr.. Lokes. and had
made up my mind to use that way.
Slocum made an appointment with
Lokes in his Office and l went there to
meet him and arrange to get the Lon
don and Chicago outfit with as little
delay as possible. Lokes was a small,
smooth shaven fellow. very we'll dress
ed. with something the air Of a horsy
gentleman. First he gave us lot of
talk about the value of the London
and Chicago properties and the duty of
his committee to the bondholders He
and his associates had no mind to let
the property SO for a song. ! made up
my mind just what inducement would
reach him while he and Slocum argued
! about the price Of the bonds. When
Lokcs began to throw out Carmichael
| at US broke In:
| Mr.. Loises. you know there isn't
| much In this deal for that crowd. But
| l don't mind telling you frankly that
it is Of prime importance to the inter
ests we represent"
Slocum looked at me. mystified. but
| went on:
I'VE propose to form large packing
! company. into which we shall take q
number of concerns on which we have
options. We want this property first
When our company is formed we
might make it very well worth your
| while having been friendly to US in
| this transaction"
Lokes didn't move q muscle This
| was the talk he had been waiting for
| but he wanted to hear the figures.
told him enough Of our plans to lei
him see that we had good backing and
to whet his appetite.
Now. we have offered your commit
zee 40 cents on the dollar for you
bonds. which is fifteen more than th'
other crowd will give you. II you vii
Induce your associates to take bond: