The herald and news. [volume] (Newberry S.C.) 1903-1937, 1913-04-18

well, for instance, then! He's sit
ting there with small margin of con.
troll in the International. That gave
him his start, and he's wise enough to
hang on to that. But it didn't give
him his money-he's only made divi.
dend money out Of that; and who
cares for dividend money? He doesn't
own control in the Guatemala Oil
Company, does he? He's made lot
out of Arizona and Utah coppers, but
he doesn't own control in a single com
pany there, does he? He's in with the
L. P, but he borrowed to get in. He's
made big killing in Rubber, but he
doesn't own any Rubber control Of his
own, does he? Now, you follow him
out in every deal he's made-iron, cop
per, steel, oil, rails, timber, irrigation.
utilities, industrials-and you'll find
he's simply banking on his inside In
formation and on his outside credit
Who gave him both Of those things?-
Why, we did, didn't we? All right!
Suppose we withdraw our credit. What
happens?"
They went silent now, and grouped
a little closer about the tabouret which
stood between them. The old mans
voice went on evenly, with no excite
ment. Their conversation attracted
the attention of none in the wide
lounging room, where large affairs
more than once had been discussed
even the making of Senators to order
"I'll tell you what happens" the
old man resumed. HE quits using us
for stalking horse, and he comes
down to his own system He's spread
out. Banks are all polite, but-well
he has to put up collateral; and then
some more. If he doesn't want to put
up International, he's apt to find that
a bunch Of automobiles is poor prop
erty when sold at twenty per cent
their cost. He turns off two or three
buffers, but still that doesn't serve for
margins. The market doesn't suit his
book any more.
Hes discovering now the truth Of
something my old friend Emory Storrs
used to say-Emory always was in
debt, or wanted to be, and says he:
There's no trouble about prosperity
in this country; there's plenty OF
money-t1e only trouble is in the
confounded scarcity in collateral
Well, he goes over to this young man,
who is standing out for some reason
best known to himself, and he tries
to get him to come through, and he
doesn't come through. What's left!
Why, the diamond lightnings Of the
Lady Of the Lightning-and his Inter
national Power stock.
Meantime, all this thing can't be
kept entirely secret: that is to say,
the market part of it can't be. But
we sit tight, all Of us. We hold our
regular directors meetings Of the In.
ternational board, and we smile, and
look pleasant. We don't know thing
about his hot water experiences in
the open market. He explains to US
why this and that happens, or doesn't
happen, in International; and we smile
and look pleasant, and we don't know
a thing. After a time it's up to him
and the Lady of the Lightnings. Some
thing pops! He's up against it, all
except his international Power. Then
Van, and you, Standley, and you, Ack,
and you, and you and l, and all of US
why we're still pleasant as pie to him
and we say, Well, Mr. John Rawn, If
you'd only sell US two or three shares
of international, we'd pay you twenty
times what it's worth-but it's very
much cheaper now-by reason OF
Vans competing company
That's about all, think!"
The others nodded silently. The
game was not new to them, and even
in it's most complicated features might
have been called simple, with re-
sources such as theirs. If these re-
sources had made Rawn. they could