Businessmen -- Fiction; Married people -- Fiction; New York (N.Y.) -- Fiction
Then the campaign rose to a smashing climax--all that Armstrong could
have desired.
Into Armstrong's office, late one afternoon, walked Henderson, the
assistant treasurer of Consolidated Securities. He looked at
Armstrong with a wry smile.
"I want to get into this Protective Association and turn over my
voting proxy to you," he said quietly. "And if there's any
information I can furnish, just ask."
"What's the answer?" demanded Armstrong curtly. He knew Henderson
was square, yet--
"I've resigned." Henderson read his thought. "Things are getting too
rotten over there to suit me. If you can use me in your company, I'd
like a job--but I'm not offering you information to get it. My ten
shares of stock look pretty big to me, and if the Association doesn't
win this fight they're going to look pretty small. Job or no, I'm
with you."
"That's straight talk," said Armstrong. "Come over and see Judge
Holcomb."
Within an hour the Association was in possession of affidavits from
Henderson which went into type and print the following day. At last
the inside operation of Consolidated, under Findlater's management,
was exposed to public scrutiny. To sum up Henderson's information:
1. The National Reduction Company, Findlater's pet scheme, had been
put through just as proposed to Armstrong, with large free gifts of
stock to Consolidated directors, and had to date cost the
stockholders of Consolidated something over a hundred thousand.
2. Further, Macgowan was purchasing all the preferred stock of
Consolidated that he could secure around seventy, using company funds
paid out on company checks. This stock was being resold to new
investors at nearly double that price. About a thousand shares per
week were changing hands in this fashion, and on each share Macgowan
and Findlater received ten dollars commission as private loot.
3. The back salaries given Macgowan and the other looters were
confirmed. Henderson also swore to a statement regarding the
financial solvency of Consolidated--a statement showing that the
value of Consolidated stock was dropping with alarming rapidity.
With these affidavits, the Protective Association swept into action.
Burton, Sessions and Holcomb took the stump, addressing meetings
wherever two or three investors could be gathered together. They
blew away the dust from Macgowan's tracks, centered the entire battle
upon the management of Findlater and his associates, appealed to the
investors to alter this management at the forthcoming annual meeting.
Dorns armed them well with photographic copies from Consolidated's
books and with letters written or received by Findlater. Henderson's
affidavits fortified them with startling facts. And all the while
the _Armstrong Review_ hammered away, reaching each individual
investor, backing up everything with the printed word.
Public-domain text, read in full here on John Shaqi.
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