Evening star. [volume] (Washington, D.C.) 1854-1972, 1910-12-04
THE BOLTED DO OR

sage"
Not since yesterday morning There were nothing
but rumors then. Tell me what you know OF the whole
wretched business"
Northrop picked up glass paper weight and and twisted visited
estate placed in delicate position. Perhaps ]
should preface my remarks by saying that have lost
personally about fifty thousand dollars very nearly al
my capital. Mr.. Coburn, Haliburtons coexeeutor IN
the Judson estate, has lost more don't know how
much. He had the most implicit confidence in Hall
burton and the Developments of the last few days have
mystifed all. The president of the Clinton had al
ways enjoyed Coburns fullest condolences. Coburn
Halliburton, and Judson, you know all came from
the same town out in Ohio: All three succeeded Co
burn was worker, and Judson was lucky. Halliburton
was both. He rose from cerkship in bank dow
town to commanding figure in the world of finance He
had always been known as progressive man; but ne
in the closest confidence of the powers with whom
he was frequently called into conference. He waved
his hand deprecatingly.
"You know all this of course, Mr.. Garriott, ne con
tnued. What you didn't know, and what neither
Coburn knew until yesterday, his use OF trust
companys funds for purposes of speculation 1t seems
that the decline in Ontario, in which he was heavily
interested had knocked his supports from under him
and he faced disaster. He did not dare at such time
this seek aid from Howarth Garrison any of the
other big men, because he had gone into the Ontario
project without their knowledge advice 1t was not
the sort of thing either of them would have touched
in the best of times. The steady decline in the
share market upset all Halburtons plans, and the
days passed suppose he all chance of restitution
of the money he had borrowed 60 glimmering. He
did what other have DONE lost his head and went
in deeper hoping by lucky turn at least to save his
reputation, if not his fortune.
HE lost everythng,-hiso own money, his wfe's, and
other funds intrsed to his The Street got the
of his position, and his stocks were hammered
steadily until the bottom was knocked out Of them He
killed himself. suppose there really nothing es*
left for him to do. 1t has been great shock to us all
Coburn Frustrated, and nobody knows yet how bad
a smash it is It doesn't matter much about me
I've told you of my loss only to show you how we vert
kept in ignorance of the company's affairs"
What is to be done?"
"A receiver will be appointed tomorrow. The exam
liners and will be at work the books to
night Until they get through there is no way Of tell
ing what the company can pay | have talked witt
two members of the board but can't say they gave
me very much hope
did Halliburton use the other securities, the rail
road stock that Mrs. Garriott still owned?"
That, l glad to say, is safe. l learned 81
this morning There are Others who are not so for
tunate. There trying times, Mr.. Garriott!
the window He seemed suddenly to have grows
years older. He was man of limited abilities and mod
means, and the loss of this considerable sum had
broken him badly As counsel for the estate of course
Northrop had no financial responsibility in connection
with administration his own loss clearly acquitted
him of any knowledge or completely in the acts Of
Edward Halliburton Garriott felt sorry tor him. AL
the grandiloquent infections that amused Natalie
were gone, and in the window stood only tired old
man. looking out the short perspective of weary
years that remained to him.
"What do you think I had better dor" asked Brooke
quietly. I'm going down to Habberton. What shall
l tell my wife?
Northrop faced him YEARLY. "I'm afraid, Garnott
you d better tell her the truth"
"Yes; but what is the TRUTH Will the Clinton stool
be worthless?"
"Oh, shouldn't say that There will be something
left, of course"
But not enough to warrant her living the present
scale?'
Il don't think anything warranted that" sale
the old man severely. 1--WE told her So"
"Wil it be necessary to sell the Grange or the cit,
house?"