Фінансист

Chapter XXXIII

           TheaccidentoftheChicagofire,theconsequentdepressionofstockvalues,andthesubsequentfailureofMr.FrankA.Cowperwoodhavesoinvolvedmatterstemporarilythatthecommitteehasnotbeenabletoascertainwithaccuracythatregularaccountshavebeenrendered;butfromthemannerinwhichMr.Cowperwoodhashadpossessionofbonds(cityloan)forhypothecation,etc.,itwouldappearthathehasbeenheldtonoresponsibilityinthesematters,andthattherehavealwaysbeenunderhiscontrolseveralhundredthousanddollarsofcashorsecuritiesbelongingtothecity,whichhehasmanipulatedforvariouspurposes;butthedetailsoftheresultsofthesetransactionsarenoteasilyavailable."Someoftheoperationsconsistedofhypothecationoflargeamountsoftheseloansbeforethecertificateswereissued,thelenderseeingthattheorderforthehypothecatedsecuritieswasdulymadetohimonthebooksofthetreasurer.Suchmethodsappeartohavebeenoccurringforalongtime,anditbeingincrediblethatthecitytreasurercouldbeunawareofthenatureofthebusiness,thereisindicationofacomplicitybetweenhimandMr.Cowperwoodtobenefitbytheuseofthecitycredit,inviolationofthelaw.

           "Furthermore,attheverytimethesehypothecationswerebeingmade,andthecitypayinginterestuponsuchloans,themoneyrepresentingthemwasinthehandsofthetreasurer’sbrokerandbearingnointeresttothecity.

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