"I've said they would never get me, and they won't." Instinctively his hand sought the pocket into which he had dropped what he had taken from the dresser's drawer. Then I knew. The yellow streak showed plain at last. I had guessed from the start it was there.
The stock manipulator in common with the successful general must have the capacity to deal with the unexpected. The faculty to see a situation whole must be his, to focus instantly the lay of the land, the enemy's plans and strength, his own resources, the strategic possibilities of his position; and instantly, if necessity demands it, he must be ready with a new plan of campaign fitted to the first emergency. The more rapidly his mind works the safer are the interests he is guarding. But if he has not this capacity, he can never be a market manipulator.
For a moment I could not but pause to admire the devilish ingenuity of the trap that had been sprung on us. The state of affairs that Addicks revealed was about the worst imaginable. I had been on this particular war-path so long that my mind instantly grasped the possibilities of destruction that lay in this new attack. I saw November 1st—no money to pay Rogers; everything forfeited; Addicks in a nauseating scandal; and all those friends of mine who had put their funds into Bay State because of their confidence in my ability to win out slaughtered. No, it should not be if I could prevent it. Other storms we had met and weathered, why not this? Even if it were a tornado, we would "ride her out." Perhaps we should not be afloat when the rollers subsided, but at least we should be at rest—on the bottom. I turned to Addicks, who, heaped up on his lounge, was staring into vacancy.
"Brace up, Addicks," I said. "We are not knocked out yet. At least let us find out what has struck us."
I was some moments in arousing him from his condition of despair, but finally he pulled himself together, and piece by piece we went over the situation. I had to agree with him that he was in an end-to-end-center-pull trap. The cunning machinery he had set up to meet just such an emergency, now that it was in hostile hands, was rather a source of danger than of safety. There was but one way out of the complication—we must undo this receivership and release our properties and funds before November 1st. Addicks, when he got his thinking loom running, declared the receivership was all a "Standard Oil" plot to ruin him. I felt sure it was an independent operation, but there was no time for controversy.
The telephone bell rang again. It was Fred Keller, talking from Addicks' house. We soon had all the details of the raid. This is what had happened. Dwight Braman, a former Boston broker, now a New York capitalist and promoter, had suddenly appeared in Wilmington, Del., accompanied by Roger Foster, a New York attorney representing Wm. Buchanan, one of the original holders of Bay State Gas income bonds. He held $100,000. They had gone before Judge Wales, and pleading that the interest on the bonds was in default and that Addicks was dissipating the assets of the company, had succeeded in inducing the judge to appoint Braman receiver. The whole performance was put through with such marvellous rapidity that not one of Addicks' innumerable henchmen had had a hint of it, and so no warning could be given in any direction. Braman, an adept in corporation try-outs, lost not a moment, for the instant his receivership appointment was signed he pounced down on the Delaware offices of the Bay State and seized everything they contained. He was waiting there for the first train to Philadelphia for the purpose of capturing the head offices of our corporation, which were located there, adjoining Addicks' private offices.
It was the moment for rapid action. We had an hour before Braman and Foster could reach Philadelphia, and in finance in that time continents' have been submerged and oceans pumped dry. Addicks instructed Fred Keller to rush the books of the company into a trunk, together with all the private papers in Addicks' safe, and to come at once to New York, where he would be beyond the jurisdiction of the Delaware court. We returned to the large parlor and hastily explained to the waiting directors what had occurred. Addicks instructed the Bay State secretary, who was present, to connect with the trunk upon its arrival and disappear. In the meantime the company's counsel advised that Addicks and the other directors barricade themselves in their rooms at the Hoffman to frustrate any attempt to get legal service on them, for we well knew that Braman and Foster, as soon as they realized they were balked in Philadelphia, would go to the New York courts for additional powers—which afterward they did.
This line of defence having been fully organized I hurried down town to 26 Broadway. I felt certain that Mr. Rogers had nothing to do with the Braman-Foster affair, but to satisfy Addicks and make assurance doubly sure I determined to see him. After being with him for five minutes I knew I had not been deceived. Rogers agreed with me that the situation looked as though it had been made for his interest, for it threatened to leave us absolutely at his mercy with nothing to prevent his checkmating Addicks at his own game. As I pointed out to him, however, there were disadvantages in the position which he must take into consideration. His acceptance of the opportunity would work such losses to the public and to my friends that though the responsibility might be laid to Braman and Foster, I would fight so viciously that no one would be spared. Besides, between the Addicks scandal and that other which we agreed must unquestionably lurk in the hasty appointment of the receiver, the whole affair must eventually be ventilated in court. It is always hard for Mr. Rogers to forego an advantage, but by this time he was tired of the wrangle and wanted peace, and, moreover, he did not relish the thought of court proceedings, so he admitted that my reasoning was good, and promised to do anything in his power to assist us.