New Britain herald. [microfilm reel] (New Britain, Conn.) 1890-1976, 1927-08-01
Death ENDS fight
OF MONEY Powers
Battle for River Of Oil Now
Is Ended


linen cloth OF a round-table IN
restaurant near Piccadilly Circus,
knife traced a map OF portion Of
Venezuela. Through center of the
map the knife drew a wavering line.
Around the table sat the finan-
ciers of Lombard street, the Wall
street OF London. They were rigid,
with eyes welded to that wavering
line.
- The knife continued its course
until the hesitant, entertained fur
row reached the sea.
THAI" said a voice. "is the River
Of Oil"
The speaker was a millionaire
sportsman and promoter. James
White. now dead by his own hand
and buried at Marlborough.
This river" his voice went on.
lis an underground rier OF oil. 1t
has been there for centuries. Geolo-
gists have told me so. 1t flows
on and on and on. 1t has thousands
and millions and billions of gallons
Of oil. ! shall tap that river.
shall bring the oil to the surface.
I shall make-yes, I shall make
millions for each of you
Quickly the word spread to the
thousands Of men who followed
Jimmy White on his speculations.
Money poured in for the venture.
Millions OF pounds piled up behind
him.
Some financiers grew skeptical.
One went to Venezuela He re-
turned.
mo river of oil there he said
There is" Jimmy came back.
There is know. Biologists.
Ny reports. I'm never wrong"
But there we're other big men"
In Lombard street who were finan-
cial opponents OF Jimmy White.
There began such manipulation
Of the London stock market as 1t
had not seen since the world war.
For four months the group opposed
to Jimmy White, led by Sir Edward
Mackey Edgar, worked to bring
him down from the heights. Since
February the group had been grad
ually absorbing preference shares
OF the British Controlled Oilfields.
~ Suddenly during the past few
weeks came a great battle of money.
Sir Edwards group began to sell
thousands of shares. Jimmy had to
buy them to keep the market firm.
One Saturday Jimmy sent letters
to his friends and also to men who
were not within his inner circle
promising a spectacular rise in the
Preference shares. On the follow
ing Monday 100000 shares changed
hands. But the rise was only one
shilling per share. and the bears.
or sellers. worked quietly and un-
dermined Jimmy.s work.
In the battle Of money. $4,000
900 was used in the turnover OF
shares.
At last the sellers had no more
shares to sell. Jimmy had no more
money to buy.
But the sellers said they had
more shares to sell. Jimmy, to tired
to bluff, admitted he had no more
money to buy.
He went quietly off to his coun-
try home near Marlborough. He
scribbled a few notes. appealing to
his wealthy friends for help for his
wife, his son, his daughter, now
penniless. Then poison took from the
financial world one of its dominant
figures.
On Jimmy Whites deck the next
Gay was found a letter from
friend. Sir Harry MCGOWAN. offer
ing to lend him s3,75O,00o. Had
Jimmy held on just another day
longer he would have passed the
crisis with the assistance.
So the jury, meeting in Jimmy's
ornate dining room at Foxhill, de-
cided he committed suicide while
insane.
: Jimmy now lies buried in the lit
tie churchyard Of the Marlborough
parish church, within sound, could
he but hear. of the padding hoofs
of the racehorses in training, the
muffled pounding he liked SO much
to hear.