The Owosso times. (Owosso, Mich.) 1897-1926, 1911-07-28

then he turned sharply TO his grand
daughter. Lillian. you had better run
along and get ready II you are going
out upon the links with u.s."
II want to- stay" she declared.
Grandfather. do you know what you
are doing TO met have all the nerv-
Gus energy you failed to bequeath to
my father. You coop me up here. l
must have an interest In something,
something big. or | shall go mad!
tell you shall die II l have no battle
to fight except myself and the So
cial inanities which Mrs. Rensselaer, is
presumed 10 teach me before may
show myself In Madison avenue" she
declared. "As an ambition that does
not seem TO promise much scope. /
want larger things. They cannot be
too large. l. too. would build an en-
pire or destroy one!' sYs,f * 2
Kelvin looked quietly up at her. She
was a picture Of striking beauty. but
there was about her certain savage
ness. such as a Lucrezia Borgia might
have had. Kelvin thought. or such as
| animated the woman vultures of the
French revolution.
Henry Breed was possessed of no
such dramatic comparisons. Leave
the room!' he said CURLY. She whirl-
ed upon her heel and strobe out the
door. slamming 1t behind her.
DR.. Zelphan followed her with his
eyes. but half smile was still lurking
under his beard. The other two heav-
ed signs when she was gone. Breed
| dismissed the episode Immediately.
Now you may explain" he told Kel-
| win.
well" said Kelvin. "the entire rail-
road map Is changed since the panic.
All the names familiar to the rail-
road world have passed into history.
Next week they will have been forgot
ten. Not one of them can rise again
from the wreck"
Breed nodded his head In compre-
tension. and his thin. flexible lips bent
into cruel smile. II know" said
he. There Is red mark upon each
Of their photographs"
Kelvin nodded briefly. "Rut those
men have shown us the way. Let me
give you as an illustration the/control
of one man. For five years he denied
that he had any interest i'm certain
large road. But there came time
when holding company In which he
was interested had secured IL per cent
Of the stock of that road. and this Is
per cent was the largest single minor-
ty holding. The man in question held
in his own name less than 10 per cent
of the stock of the holding company.
but 1t was to the interest of every
member that he nominate his own d.
rectors and control the destiny of the
company. Through this control. there
fore. he virtually possessed personally
that Is per cent of the stock of the
big railroad. With that Is per cent
he sent in his own name an appeal to
the scattered stockholders for proxies.
and through his personal prestige he
came into the stockholders meeting
of the big road voting GO per cent of
the stock and put through his own
slate of directors and officers Then.
through similar means and through
this one road. he controlled all it's
branches and dependents. aggregating
many thousands of miles. and oil de-
spite the fact that he himself actually
held not per cent Of the value Of all
this stock!'
Breed nodded his head. 'T have a
check mark upon that mans photo
graph too. This deal was part of
the pyramid which crushed him"
"But 1t can't crush you," returned
Phillip. He poised his pencil over diff.
ferent points in his diagram. where op-
posite the name Of each road was set
its total number Of outstanding stocks
and bonds
"You are the only man in the world
today who is able to bring practically
endless resources TO the support of
any project" he continued. For in |
stance, with an actual holding of less
than 1 per cent of the total stock of
all the railroad corporations in the
United States. you are able to domi-
nate every mile of iron highway. to
depose or elevate any man In the rail- |
road business. from brakeman to pres
(dent-that Is. after you have taken
the reins. You have only one rival"
Breed raised his head quickly. "Rol- |
lins?" he said.
Sumner Rollins" repeated Kelvin.
"What made you think so? You |
spoke of him yesterday"
81 met him during the days Of the
panic. Railroads are hobby with
him. He thinks that, with proper
management, they can be made prac-
tically safe to the PUBLIC and still yield
better dividends. He il copserva.
tive man. who has never specialized
upon margin-in fact, he Is one Of the
few men whom your campaign against
the Stock Exchange and Stock Ex-
change methods could not affect Dur
ing the closing days of the panic, when
such stocks as Northern Pacific were
reduced to the absurd figure of twenty
nine. Rollins was In the market to buy
actual stock for spot cash. and in sew
eral of these roads be Is today the
second minority stakeholder to your
self. kept close record Of his trans
actions. and. In fact. sold him some
Northern Pacific and Soma Nau uavan |