The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1911-06-15
THE CASH INTRIGUE
CONTINUED from Page Fourteen)

NCONIluueO from rage fOUTIeenD
animated the woman vuItures Of the
French revolution
Henry Breed was possessed OF ne
such dramatic comparisons. Leave
the roomr' he said CURLY. She whirl-
ed upon her heel and strobe out the
door. slamming IL behind her.
DR.. Zelphsn 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 KEEL
vim.
We'll" 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 viii have been forgot
ten. Not one of them can rise again
from the wreck
Breed nodded his head In compre-
hension, and his thin, flexible lips bent
into a cruel smile. IL know" said
he. There is a red mark upon each
Of their photographs"
Kelvin nodded briefly. But those
men have shown us the way. Let me
give you as an Illustration the control
Of one man. For Ave years he denied
that he had any interest in a certain
large road But there came a time
when a holding company in which he
was interested had secured IS per cent
Of the stock Of that road, and this Is
per cent was the largest single minori-
ty holding. The man in question held
in his own name less than 10 per cent
of the Ctock 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 60 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 all de-
| spite the fact that be himself actually
held not / per cent Of the value OF all
this stockT'
Breed nodded his head. 81 have a
check mark upon that mans photo
graph too. This deal was a part Of
the pyramid which crushed him"
But it can't crush you" returned
Phillip. He poised his pencil over diff
ferent points in his diagram, where OPP
posite the name Of each road was set
J fits 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 doni-
3 nate every mfle Of iron highway, to
depose or elevate any man in the rail-
road business, from brakeman to pres
Z ident-that Is, after you have taken
5 the reins. You have only one rival
3 Breed raised his head quickly. "Rol-
s lins?' he said.
9 Sumner Rollins" repeated Kelvin.
"what made you think soH You
s spoke Of him Yesterday"
s "I met him during the days OF the
panic. Railroads are hobby with
3 him: he thinks that, with proper
s management, they can be made prac-
ticauy safe to the public and still yield
% better dividends. he is q conserva-
3 tive man, who has never speculated
. upon margin-in fact, he Is one of the
IS few men whom your campaign against
= the Stock Exchange and Stock Ex-
q change methods could not affect Dur
ing the closing days Of the panic, when
10 such stocks as Northern Pacific were
IS reduced to the absurd figure Of twenty
. nine. Rollins was In the market to buy
Is actual stock for spot cash, and in sew
10 eraI of these roads he is today the
IL second minority stakeholder to your
IS self. l kept close record OF his trans
actions, and, in fact, / sold him some
70 Northern Pacific and some New Haven
= myself"
"a '"You didg' exclaimed Breed, sur
- prised and not altogether pleased.