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 desire and betrayal of a son whose father gave him every thing -- other than the educational to discover his manner in territory governed through the rapacious.James Hazen Hyde was once twenty-three in 1899 whilst he inherited the bulk stocks within the billion-dollar Equitable existence coverage Society. basically 5 years later, he fell from grace in a Wall highway scandal that obsessed the country and commanded a hundred and fifteen front-page articles within the ny Times.Hyde used to be clever, cultured, and bold, yet he was once no fit for an older iteration that had mapped the backstreets of excessive finance. Vying to regulate the Equitable's gigantic funding pool, the main well-known financiers and industrialists of the period -- between them E. H. Harriman, Henry Clay Frick, and J. P. Morgan -- positioned Hyde on forty-eight forums and integrated him in offers that shook Wall road. 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 gown ball. His enemies used the occasion because the hook to hold him on, claiming that he was once too frivolous to run a firm devoted to maintaining widows and orphans; and unfold the rumor that he had spent 2 hundred thousand cash of Equitable funds on a night's leisure. by the point a central authority research confirmed that Hyde had paid the accounts himself, his recognition was once ruined.The sour crusade to wrest keep watch over of the Equitable and its big funding skill from Hyde at the heels of the ball. because the struggle escalated, clandestine alliances among insurers and Wall highway burst to the skin, exposing ideas which are the stuff of twenty-first-century scandals: self-dealing, insider buying and selling, accounting malpractice, and company investment of personal pleasures.After the Ball tells a story that riveted thousands of american citizens a century in the past. Its topics are as clean this day as they have been in 1905: greed and chicanery, the unsuitable love among fathers and sons, and contradictory American attitudes approximately wealth -- all unfolding opposed to a atmosphere of beauty, extra, and corrupting glamour.
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Extra resources for After the Ball: Gilded Age Secrets, Boardroom Betrayals, and the Party That Ignited the Great Wall Street Scandal of 1905
His unreserved conﬁdence . . [which] had no counterpart in the Equitable ofﬁce. . McIntyre was exactly ﬁtted by temperament, as well as qualiﬁcations, to be Mr. Hyde’s trusted man of details and chief aide. He was always ready, always cool and always exact. . The man most useful to him [Henry] was one who knew intuitively what to do, saw what was coming before it arrived . . never got rattled and never shrank from assuming responsibility because an undertaking meant hard work or was on a large scale.
Camp; it was unclear whether James reminded him of the older Caleb, or Henry simply wanted to honor his uncle. ” Henry spoiled James, but he also fussed, particularly about his health. His letters were ﬁlled with admonitions about ways to avoid falling ill. He warned James that if he met a friend on the street when the weather was cold and windy, he should not linger so he would not get a sore throat. When James went to a football game, Henry wrote to remind him to wear a scarf and not to talk too much because the wind might blow down his throat.
He began well, but when he lost his bearings, he did what spoiled and frightened princelings often do: he played when it was most important to work. 16 17 Chapter Four h THE FIRST MENTOR: JAMES ALEXANDER Photograph unavailable for electronic edition. I n November 1898, Henry’s visits to 120 Broadway were becoming rarer, but some days he was strong enough to spend time in his full-story-high ofﬁce on the third ﬂoor, warmed by the ﬁre in his ﬁreplace. There were now twelve elevators, and Mr. Hyde had his own private car, in which he rode to have lunch in his private dining room.
After the Ball: Gilded Age Secrets, Boardroom Betrayals, and the Party That Ignited the Great Wall Street Scandal of 1905 by Patricia Beard