Antitrust law -- United States -- Fiction; Capitalists and financiers -- Fiction; Railroad stories
Law suits, as such, never worried Galt. He was continually engaged in
litigation and kept a staff of lawyers busy. His way with lawyers was
to tell them baldly what he wanted to do and leave it to them to evolve
the legal technique of doing it. Then if difficulties followed he would
say: “That’s your own bacon. Now cure it.” Only, they were always to
fight, never to settle.
But now he became silent and brooding. He paced his office for
hours together. When spoken to his eyes looked out of a mist. It was
necessary to bring his attention to matters requiring decision. He had
Mordecai in two or three times a day. They conferred endlessly in low
tones and watched the ticker anxiously. So far as I could see he did
nothing to support the pride of Great Midwestern stock. I wondered
why. Later I knew. At this juncture he was selling it himself. He was
selling not only his stock but enormous amounts of his own bonds,
thereby converting his wealth into cash. That is to say, he was
stripping for the fray.
For three days Great Midwestern stock had been falling in a leaden
manner and Wall Street was distraught with a sense of foreboding when
one morning the big shell burst. First the news tickers flashed this
bulletin:
“The recent extraordinary weakness of Great Midwestern is
explained by the rumor that the Government is about to bring suit
under the Anti-Trust Act against the Galt Railroad System. There
is talk also of criminal proceedings against Mr. Galt.”
Galt read it with no sign of emotion. Evidently he was expecting it.
Events now were moving rapidly. Half an hour later the news tickers
produced a bulletin as follows:
“Washington--It is announced at the Attorney General’s office
that the government has filed suit against the Galt Railroad
Trust praying for its dissolution on the ground of its being an
oppressive conspiracy in restraint of trade.... No confirmation
of rumors that criminal proceedings will be brought against Henry
M. Galt as a person.”
Details followed. They ran for an hour on the news printing machines,
to the exclusion of everything else, while at the same time on the
quotation tickers the price of Great Midwestern was falling headlong
under terrific selling.
The government’s complaint set out the history of the Galt Railway
System, discussed at length its unique power for evil, examined a large
number of its acts, pronounced adverse judgment upon them, and ended
with an impassioned arraignment of Galt as a man who set his will above
the law. Wherefore, it prayed the court to find all his work illegal
and wicked and to decree that the Galt Railway System be broken up into
its component parts, to the end that competition, peace and happiness
might be restored on earth.
The outer office was soon in the possession of reporters clamoring
to see Galt. He obstinately refused to meet them. They demanded a
statement, and while they waited we prepared one as follows:
Public-domain text, read in full here on John Shaqi.
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