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nydus/Frenzied Finance, Vol. 1: The Crime of AmalgamatedPublic

This volume compiles a series of articles originally published in Everybody's Magazine concerning the practices of high finance. The author presents a historical account of business dealings spanning twelve years and challenges readers to evaluate the veracity of the events described.

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Table of Contents

CHAPTER XXII

PLUNDERED OF THE PLUNDER

So extraordinary a happening as the disappearance of George H. Towle and Mr. Patch, you think, should have furnished a national sensation. And this is the first you have ever heard of it. Bear in mind that here for the first time the facts of this case are set forth in their proper relation to one another, and without the fear or favor that has hitherto prevented them from being understood.

In Boston after the adjournment of the Legislature, however bitter the feeling of the men who had sold themselves, and those others who had lost their all in the crash of stock values that had followed Whitney's defeat, their own complicity enforced silence and prevented outcry. It was given out that George H. Towle and Mr. Patch, tired by their labors, had gone to the country for a brief sojourn. On their return there would be a settlement. And with these assurances, both legislators and lieutenants had, perforce, to be satisfied. Gradually, betrayers and betrayed drifted back to their own homes and their erstwhile avocations, and when the strange story of the disappearance and death of the chief actors in the Whitney drama came from over the seas, it fell on the heedless ears of men who had written off a loss and desired to forget the experience. A conspiracy of silence is easily organized among accomplices.

I myself was the greatest sufferer by the disaster. Banking on Whitney's assurance of success I had loaded up heavily with Bay State on my own account; and my customers pinning their faith to my predictions of a rise, had also bought heavily both of the gas stock and Dominion Coal. In my attempt to support the market when the first decline occurred, I

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