[The Financier by Theodore Dreiser]@TWC D-Link bookThe Financier CHAPTER XXII 7/27
He would have money to invest in other lines. He might obtain the financial direction of the whole, in which case he would be worth millions.
One shrewd thing he did, which indicated the foresight and subtlety of the man, was to make a separate organization or company of any extension or addition which he made to his line.
Thus, if he had two or three miles of track on a street, and he wanted to extend it two or three miles farther on the same street, instead of including this extension in the existing corporation, he would make a second corporation to control the additional two or three miles of right of way.
This corporation he would capitalize at so much, and issue stocks and bonds for its construction, equipment, and manipulation. Having done this he would then take the sub-corporation over into the parent concern, issuing more stocks and bonds of the parent company wherewith to do it, and, of course, selling these bonds to the public.
Even his brothers who worked for him did not know the various ramifications of his numerous deals, and executed his orders blindly. Sometimes Joseph said to Edward, in a puzzled way, "Well, Frank knows what he is about, I guess." On the other hand, he was most careful to see that every current obligation was instantly met, and even anticipated, for he wanted to make a great show of regularity.
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