A little item on an inside page of Saturday's Times caught his eye.
Things had happened while he was away. A Vickers Viscount of Interstate Airways had crashed immediately after take - off at the Mexico City air - port the previous morning. The seventeen passengers and crew had all been killed. The Mexican authorities had been quick to place the blame on Interstate's bad servicing of their aircraft. Abel picked up the phone and asked the girl for the overseas operator.
Saturday, he's probably back in Chicago, thought Abel. He thumbed through his little phone book to find the home number.
'There'll be a delay ~of about thirty minutes,' said a precise, not unattractive, English voice.
'Thank you,' said Abel, and he lay down on the bed with the phone by his side, thinking. It rang twenty minutes later.
'Your overseas call is on the line, sir,' said the same precise voice.
'Abel, is that you? Where are you?'
'Sure is, Henry. I'm in London.'
'Are you through?' said the girl, who was back on the line.
'I haven't even started,' said Abel.
'I'm sorry, sir. I mean are you speaking to America?'
'Oh yes, sure. Thank you. Jesus, Henry, they speak a different language over here.'
Henry Osborne laughed.
'Now listen. Did you read that item in the press about an Interstate Airways' Vickers Viscount crashing at the Mexico City airport?'
'Yes, I did,' said Henry, 'but there's nothing for you to worry about.
The plane was properly insured and the company is completely covered, so they incurred no loss and the stock has remained steady!
'The insurance is the last thing I'm interested in,' said Abel. 'This could be our best chance yet for a little trial run to discover just how strong Mr. Kane's constitution is.'
'I don't think I understand, Abel. What do you mean?'
'Listen carefully, and I'll explain exactly what I want you to do when the Stock Exchange opens on Monday morning. I'll be back in New York by Tuesday to orchestrate the final crescendo myself.'
Henry Osborne listened attentively to Abel Rosnovski's instructions.
Twenty minutes - later, Abel replaced the phone on the hook.
He was through.
30
William realised he could expect more trouble irom Abel Rosnovski the morning that Curtis Fenton phoned to let him know that the Chicago Baron was closing all the group's bank accounts with Continental Trust and was accusing Fenton himself of disloyalty and unethical conducL 'I thought I did the con - ect thing in writing to you about Mr.
Rosnovski's acquisitions in Lester's,' said the banker unhappily, 'and it has ended with me losing one of my biggest customers. I don't know what my board of directors will say.'
William formulated an inadequate apology, and calmed Fenton down a little by promising him he would speak to his superiors. He was, however, more preoccupied with wondering what Abel Rosnovski's next move would be.
Nearly a month later, he found out. He was going through the bank's Monday morning mail when a call came through from his broker, telling him that someone had placed a million dollars worth of Interstate Airways'
stock on the market. William had to make the instant decision that his per - sonal trust should pick up the shares, and he issued an immediate buy order for them. At two o'clock that afternoon, another million dollars' worth was put on the market. Before William had a chance to pick them up, the price had started falling. By the time the New York Stock Exchange closed at three o'clock, the price of Interstate Airways had. fallen by a third.
At ten minutes past ten the next morning, William received a call from his now agitated broker. Another million dollars worth of shares had been placed on the market at the opening bell, The broker reported that the latest dumping had had an avalanche effect : Interstate sell orders were coming on to the floor from every quarter, the bottom had fallen out, and the stock was now trading at only a few cents a share. Only twenty - four hours previously, Interstate had been quoted at four and a half.
William instructed Alfred Rodgers, the company secretary, to call a board meeting for the following Monday. He needed the time to confirm who was responsible for the dumping. By Wednesday, he had abandoned any attempt at shoring up Interstate by buying all the shares that came on the market himself. At the close of business that day, the Securities and Exchange Commission announced that they would be conducting an enquiry into all Interstate transactions. William knew that Lester's board would now have to decide whether to support the airline for the three to six months it would take the S.E.C. to complete their investigadon or whether to let the company go under. The alternatives looked extremely damaging, both to William's pocket and to the bank's reputation.