“THE BOLTED DOOR.”

Thames Star, Volume LXIII, Issue 17618, 9 May 1929, Page 3

“THE BOLTED DOOR.”

ffijSTOUR SERIAL STORY~|%i

CHAPTER XXI LI

broken pillars

There was no use reading move. Those companies were all Halliburton concerns, and it was clear _ that the worst was to he expected with regard to the Jud.son estate. Not even the strongest opponents of the administration in power, who believed that insensate investigation of corporate interests had brought about the depression in business, had ever predicted, such a disastrous failure ns this was likely to prove. The Clinton was an “old line” trust company, on whoso board of directors sat men with names known throughout the country, and whose interests extended from one end of the city to the other. Brooke knew what this failure meant, not only to Natalie and 'himself, but to tlie whole financial system of which Haliburton was a part, the nerves and fibres of which ran in every direction, with their motor centres in Wall Street. How was it to effect the plans for his work ? The officers of the Cross-Town line had assured him some weeks ago that money for the new ears, and trucks would be forthcoming on the successful completion of his trials; but then there had been no rumours of such a disaster as this! . It seemed that his career had reached its greatest crisis. Success and failure faced him, side by side. Which was it to be ? A 'living for himself was already assured, but a living for him did not mean a jiving for Natalie. Even if the truck did not come up to the requirements of the Cross-Town line, lie would still have enough from the freight wagon and ventilating machinery to give him a small income But how could lie ask Natalie to live upon that It was too severe a test of her love for him. Perhaps she had read it by this time. Could her knowledge of the bad news of the day have had anything to do with Bradley’s strange message? Hazards hung thick about his arfairs, material and sentimental. He quietly read the report in the paper .through to the end, then got up and paced the floor slowly, his brows in a deep tangle. Then, with set lips and a look of final decision, lie took up the telephone again, and made an ap-

By, GEORGE GIBBS.

pointmcnt with Mr. Northrop, then washed and got into his street clothes. As lie went down into the shop, O'Dowd eyed him dubiously. “I’ve got to go out, Jim.” 1 “See here, Brooke. This ain’t my motor. I’m not going it alone ” “I’m sorry, but it can’t be helped.’* “Will you be back?” asked the mechanic. “No. You’ve got to do without me to-day. IMI be in to-morrow. If she runs by six, ’phone the car company. They want to keep posted.” O'Dowd took off his cap, scratched his head, and watched Brooke’s figure darken the doorway. Then he turned to the engine again, muttering: “She ain’t goin’ to run right, I know it. There’ll be trouble in that sawed-off generator, as sure as God made little apples.” Then lie spat laconically. “Oh, liell!” he finished, with a scowl. Brooke hurried westward, torn between the importance of his visit to Mr. Northrop. He was shown immediately into that gentleman’s private office, and the demeanour of the old lawyer had little in it to reassure him. “Come in, Mr. Garriott—sit down,”

he said wearily. “It’s a very bad business for us all. I ’phoned Mrs. Harriott this morning, but it was impossible to get her on the wire. Is she ill, do you know?’’ “No,’’ said Harriott. “I saw her last night. I don’t think she can understand the importance of your message.” “She has not seen the papers?” “Not since yesterday morning. There were nothing but rumours then. Tell me what you know of the Avliole wretched business. ’ ’ Mr. Northrop picked up a glass paperweight and twisted it- slowly in his fingers.

“As counsel for the Judson estate. I am placed in a delicate position. Per- ' haps I should preface my remarks by saying that I have lost personally about fifty thousand dollars —very nearly all my capital. Mr. Coburn, Halliburton’s co-executor • in the Judson estate, has lost more—l don’t know how much. He had the most implicit confidence in Haliburtox, and the developments of" the last few days have mystified us all. The president of the Clinton had always enjoyed Coburn’s fullest confidence. Coburn, Halliburton and Judson, as you know, all came from tlie same town out in Ohio. All three succeeded. Coburn was a worker, and Judson was lucky. Haliburton was both: He rose from a clerkship in a bank down town to a commanding figure in tlie world of finance. He had always been known as a progressive man, but he was in the confidence of tlie powers, with whom lie was frequently called into conference.” ’Ho waved his hand deprecatingiy. “You know all this, of course, Mr. Harriott,” lie continued. “What you didn’t know, and what neither I nor Coburn knew until yesterday, was liis use of trust company’s funds for purposes of speculation. It seems the decline in Ontario, in which be was heavily interested, bad knocked liis supports from under him, and he faced disaster. He did not dare at such a time as this to seek aid from Howartli, Garrison, or any other of the big men, because lie had gone into the Ontario project without their knowledge or advice. It was not the sort of thing either of them would have pouched, even in the best of times.

The steady decline in the share market and the news from Washington, which hit most of the New York institutions pretty hard, unset all Haliburton’s plans, and, as the days passed, I suppose he saw all chance of restitution of the money he had borrowed go a-glimniering. He did what other men would have done—lost his head, and went in deeper— hoping by a lucky turn at least to save Ids reputation, if not his fortune.” “He lost everything—liis own money, his wife’s, and other funds entrusted to his care. The Street got the news of his position, and his stocks wore hammering steadily until the bottom was knocked out of them. He killed himself. I suppose there was really nothing left for him to do. It has been a great shock to us ail. Coburn is prostrated, and nobody knows' yet liojv bad a smash it is. It doesn’t matter so much about me. I’ve only told you of my loss to show you how we were kept in ignorance of the company’s affairs.” “What is to be done?” “A receiver will be appointed tomorrow: The examiners and accountants will be at work on the books tonight. Until they get through, there is no way of telling what the company can pay. I have talked with two members of the board, but I can’t say they gave me very much hope.” “Did Halliburton use the other securities—the railroad stock which Mrs. Gairriott still owned?” ' ' j “That, I am glad to say, is safe. ’ I learned so this morning. There are others who are not so fortunate. These are drying times, Mr. Garriott, Dying, times.”

Tile old man got up out of* liis chair and walked to the window. He seemed suddenly, to have grown years older. He was a man of limited means, and the loss of this considerable sum had broken him badly. As counsel for the estate, of course, Northrop had no . financial, responsibility in connection with its administration, and his own loss clearly acquitted him of any ; knowledge or complicity m the acts of Edward Haliburton. Garriott felt sorry for him. All the grandiloquent inflections which so amused Natalie were gone, and in the window stood I only a tired old man. looking out over the short perspective of weary years that remained to him. ; “What do you think I had better do?” asked Brooke quietly. “I’m going down to Habberton. What shall I tell my wife?” f l Northrop faced him wearily. ! . “I’m afraid, Gari’iott, you’d better tell her the truth.” “Yes, but what is the truth? Wifi the Clinton stock be worthless?” “Oh, I wouldn’t say that. There will be something left, of course.” j (To be continued.) !