Antitrust law -- United States -- Fiction; Capitalists and financiers -- Fiction; Railroad stories
The magazines discovered him. For a long time he would not be
interviewed. There was nothing to talk about, he said; why did they
pester him? They wrote articles about him, notwithstanding, because
he was a new power in the land, and so much of the information they
put forth was garbled or immature that he was persuaded at last to
submit to a regular interview. The writer assigned to the task was
at that time a famous interviewer. He came one evening to the house
by appointment and waited in the great drawing room. I was with him,
giving him some advice, when Galt came in, wearing slippers the heels
of which slapped the floor at every step. He sat in a large chair,
crouched himself, stared for a full minute at the interviewer through
large shell spectacles, justifying, I afterward remembered, the
interviewer’s impression of him as a huge, predatory, not unfriendly
spider. Suddenly he spoke, saying:
“Ain’t you ashamed to be in this business?”
“Everybody has something to be ashamed of,” said the interviewer. “What
are you ashamed of?”
That pleased Galt. He loved a straight hit on the nose. And it turned
out to be a very successful interview.
What the public knew about him was already enough to dazzle the
imagination. What it didn’t know, not yet at least, was more
surprising. His private fortune became so great that he was obliged
to think what to do with it. Unerringly he employed it in means to
greater power. Hitherto he had relied mainly upon the support of
individuals and groups of men who put their money with him. Now he
began on his own account to buy heavily into financial institutions and
before anybody knew what he was doing he had got working control of
several great reservoirs of liquid capital, such as chartered banks and
insurance companies. The use of this was that he could influence them
to invest their funds in the securities of the Great Midwestern and
its collateral properties. That made it easier for him to sell the new
stocks and bonds which he was endlessly creating to provide money for
his projects.
His passion to build burned higher and higher. Any spectacle of
construction fascinated him. We stood for an hour one morning at the
corner of Broadway and Exchange Place watching a new way of putting
down the foundation for a steel building. Wooden caissons were sunk in
the ground by a pneumatic principle to a great depth and then filled
with concrete. The building was to be twenty stories high.
“Have you noticed,” I asked him, “how the skyline of New York has
changed since steel construction began? If you haven’t seen it from
down the bay or across the river for several years you wouldn’t know
it.”
“I haven’t,” he said. “Yes ... of course. It must be so.”
An hour later in the office he called me to the window. “See that
handful of old brick rookeries down there?... Fine place to build....
Let’s do something for your skyline.”
Public-domain text, read in full here on John Shaqi.
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