So, from father to son, always under a show of fair appearance, Regan had carried the feud over. Yet Regan's very foundation on which he built for revenge was meretricious and wrongly conceived. True, eight years before R.H.M.'s death, he had tried to double-cross him and failed; but he never dreamed that E.H.M. had guessed. Yet E.H.M. had not only guessed but had ascertained beyond any shadow of doubt, and had promptly and cleverly doublecrossed his treacherous associate. Thus, had Regan known that E.H.M. knew of his perfidy, Regan would have taken his medicine without thought of revenge. As it was, believing that E.H.M. was as bad as himself, believing that E.H.M., out of meanness as mean as his own, without provocation or suspicion, had done this foul thing to him, he saw no way to balance the account save by ruining him, or, in lieu of him, by ruining his son.
And Regan had taken his time. At first Francis had left the financial game alone, content with letting his money remain safely in the safe investments into which it had been put by his father. Not until Francis had become for the first time active in undertaking Tampico Petroleum to the tune of millions of investment, with an assured many millions of ultimate returns, had Regan had the ghost of a chance to destroy him. But, the chance given, Regan had not wasted time, though his slow and thorough campaign had required many months to develop. Ere he was done, he came very close to knowing every share of whatever stock Francis carried on margin or owned outright.
It had really taken two years and more for Regan to prepare. In some of the corporations in which Francis owned heavily, Regan was himself a director and no inconsiderable arbiter of destiny. In Frisco Consolidated he was president. In New York, Vermont and Connecticut he was vicepresident. From controlling one director in Northwestern Electric, he had played kitchen politics until he controlled the two-thirds majority. And so with all the rest, either directly, or indirectly through corporation and banking ramilications, he had his hand in the secret springs and levers of the financial and business mechanism which gave strength to Francis' fortune.
Yet no one of these was more tl: an a bagatelle compared with the biggest thing of all Tampico Petroleum. In this, beyond a paltry twenty thousand shares bought on the open market, 'Regan owned nothing, controlled nothing, though the time was growing ripe for him to sell and deal and juggle in inordinate quantities. Tampico Petroleum was practically Francis' private preserve. A number of his friends were, for them, deeply involved, Mrs. Carruthers even gravely so. She worried him, and was not even above pestering him over the telephone. There were others, like Johnny Pathmore, who never bothered him at all, and who, when they met, talked carelessly and optimistically about the condition of the market and financial things in general. All of which was harder to bear than Mrs. Carruthers' perpetual nervousness.
Northwestern Electric, thanks to Regan's machinations, had actually dropped thirty points and remained there. Those on the outside who thought they knew, regarded it as positively shaky. Then there was Ihe little, old, solidas-the-rock-of-Gibraltar Frisco Consolidated. The nastiest of rumors were afloat, and the talk of a receivership was growing emphatic. Montana Lode was still sickly under Mulhaney's unflattering and unmodified report, and Weston, the great expert sent out by the English investors, had failed to report anything reassuring. For six months, Imperial Tungsten, earning nothing, had been put to disastrous expense in the great strike which seemed only just begun. Nor did anybody, save the several labor leaders who knew, dream that it was Regan's gold that was at the bottom of the affair.
The secrecy and the deadliness of the attack was what unnerved Bascom. All properties in which Francis was interested were being pressed down as if by a slow-moving glacier. There was nothing spectacular about the movement, merely a steady persistent decline that made Francis' large fortune shrink horribly. And, along with what he owned outright, what he bsld on margin suffered even greater shrinkage.
Then had come rumors of war. Ambassadors were receiving their passports right and left, and half the world seemed mobilizing. This was the moment, with the market shaken and panicky, and with the world powers delaying in declaring moratoriums, that Regan selected to strike. The time was ripe for a bear raid, and with him were associated half a dozen other big bears who tacitly accepted his leadership. But even they did not know the full extent of his plans, nor guess at the specific direction of them. They were in the raid for what they could make, and thought he was in it for the same reason, in their simple directness of pecuniary vision catching no glimpse of Francis Morgan nor of his ghostly father at whom the big blow was being struck.
Regan's rumor factory began working overtime, and the first to drop and the fastest to drop in the dropping market were the stocks of Francis, which had already done consider able dropping ere the bear market began. Yet Regan was careful to bring no pressure on Tampico Petroleum. Proudly it held up its head in the midst of the general slump, and eagerly Kegan waited for the moment of desperation when Francis would be forced to dump it on the market to cover his shrunken margins in other lines.
"Lord! Lord!"
Bascom held the side of his face in the palm of one hand and grimaced as if he had a jumping toothache.