Download e-book for kindle: After the Ball: Gilded Age Secrets, Boardroom Betrayals, and by Patricia Beard
By Patricia Beard
After the Ball is that infrequent real tale that reads like an epic novel, a sweeping chronicle of an period, and an intimate account of the wish and betrayal of a son whose father gave him every little thing -- other than the educational to discover his method in territory governed by means of the rapacious.James Hazen Hyde used to be twenty-three in 1899 while he inherited the bulk stocks within the billion-dollar Equitable existence coverage Society. simply 5 years later, he fell from grace in a Wall road scandal that obsessed the country and commanded one hundred fifteen front-page articles within the big apple Times.Hyde was once clever, cultured, and impressive, yet he used to be no fit for an older new release that had mapped the backstreets of excessive finance. Vying to manage the Equitable's titanic funding pool, the main well-known financiers and industrialists of the period -- between them E. H. Harriman, Henry Clay Frick, and J. P. Morgan -- placed Hyde on forty-eight forums and incorporated him in bargains that shook Wall highway. after which, on the top of social luck, he made a deadly miscalculation.On the final evening of January 1905, James Hyde held a fabulously flamboyant, eighteenth-century, Versailles-themed dress ball. His enemies used the occasion because the hook to hold him on, claiming that he used to be too frivolous to run an organization devoted to conserving widows and orphans; and unfold the rumor that he had spent 200 thousand cash of Equitable cash on a night's leisure. by the point a central authority research demonstrated that Hyde had paid the accounts himself, his acceptance was once ruined.The sour crusade to wrest keep watch over of the Equitable and its gigantic funding means from Hyde at the heels of the ball. because the struggle escalated, clandestine alliances among insurers and Wall highway burst to the outside, exposing strategies which are the stuff of twenty-first-century scandals: self-dealing, insider buying and selling, accounting malpractice, and company investment of non-public pleasures.After the Ball tells a story that riveted hundreds of thousands of usa citizens a century in the past. Its topics are as clean this present day as they have been in 1905: greed and chicanery, the improper love among fathers and sons, and contradictory American attitudes approximately wealth -- all unfolding opposed to a surroundings of beauty, extra, and corrupting glamour.
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Additional info for After the Ball: Gilded Age Secrets, Boardroom Betrayals, and the Party That Ignited the Great Wall Street Scandal of 1905
She was once the wife of a policyholder in the Equitable; the policy lapsed, and he died; but her piteous pleadings so affected the tender heart of Mr. Hyde, that he purchased the farm aforesaid, installed her as mistress, and on its income she is enabled to live with comfort, educate her children, and ﬁt them to become worthy representatives of their putative father, A Life: Henry, 1859–1899 31 never forgetting to instill in their minds the beneﬁcence of life insurance. 10 There was no evidence that the allegation had any basis in fact, but the story spread.
There, the last honors would be held for a man whom the obituary writers called great, who loomed over his son as absolutely as 120 Broadway had once dominated Wall Street, and who would be nearly forgotten in ﬁfty years. Henry Hyde might have been right when he claimed that no one recognized him on his way to work, but anyone who saw his funeral cortege with its imposing line of black coaches drawn by black horses and driven by coachmen wearing black broadcloth coats, black kid gloves, and black top hats, would know that someone important had died.
I had traveled with my father all over Europe for a good many years, had translated much French and German business for him, and have been present at many important conferences for the transaction of business, had kept, when it was possible, an elementary run of his correspondence, and have translated for many of the people whom he had seen. Then I have been all over this country previous to my going into the business with my father. . He had instilled in me his theories about the business of life insurance.