woman’s eyes.
“That’s hardly clear logic.”
“It’s enough. I saw it.”
“Ben? If anything turns up we think is beyond us. you’ll go to the attorney
general?”
“My word.”
-You’re on. What do we do now?”
Benjamin Reynolds rose from his chair. “Is Canfield still in ArizonaT’
“Phoenix.”
“Get him here.”
Canfield. A complicated man for a complicated assignment. Reynolds did not
like him, did not completely trust him. But he would make progress faster
than any of the others.
And in the event he decided to sell out, Ben Reynolds would know it. He
would spot it somehow. Canfield wasn’t that experienced.
If that happened Reynolds would bear down on the field accountant and get
to the truth of the Scarlatti business. Canfield was expendable.
Yes, Matthew Canfield was a good choice. If he pursued the Scarlattis on
Group Twenty’s terms, they could ask no more. If, on the other hand, he
found different
125
terms-terms too lucrative to refuse-he would be called in and broken.
Destroyed. But they would know the truth.
Ben Reynolds sat down and wondered at his own cynicism.
There was no question about it. The fastest way to solve the mystery
behind the Scarlattis was for Matthew Canfield to be a pawn.
A pawn who trapped himself.
126
CHAPTER 14
It was difficult for Elizabeth to sleep. She repeatedly sat up in bed to
write down whatever came into her head. She wrote down facts, conjectures,
remote possibilities, even impossibilities. She drew little squares,
inserted names, places, dates, and tried to match them with connecting
lines. At about three in the morning, she had reduced the series of events
to the following:
April, 1925. Ulster and Janet married after only threeweek engagement. Why?
. . . Ulster and Janet sailed Cunard Line to Southampton. Reservations made
by Ulster in February. How did he know?
May to December, 1925. Approximately eight hundred thousand sent by
Waterman Trust to sixteen different banks in England, France, Germany,
Austria, Holland, Italy, Spain, and Algeria.
January to March, 1926. Securities valued at appro31mately 270 million
taken from Waterman. Forced sale equivalent between 150 and 200 million.
Ali bills and charges in Ulstees and Janefs name from European aocounts
settled in full by February, 1926. Month of March, Ulster’s behavior
considerably altered, withdrawn.
April, 1926. Andrew born. Andrew christened. Ulster disappears.
July, 1926. Confirmation received from fourteen European banks that all
monies withdrawn previously. Generally within four weeks of deposit. Two
banks, London and The Hague, report sums of twenty-six thousand and
nineteen thousand, respectively, remain on deposit.
This was the chronological order of events relative to
127
Ulstees disappearance. The design was there. Premeditation of the whole
sequence was apparent: the reservations made in February; the short
engagement; the honeymoon tour; the constant deposits and prompt with-
drawals; the removal of the securities and the final act of Ulster’s
disappearance itself. From February, 1925, to April, 1926. A plan conceived
for fourteen months and executed with enormous precision, even to the point
of assuring pregnancy, if Janet was to be believed. Was Ulster capable of
such ingenuity? Elizabeth did not know. She really knew very little about
him and the endless reports served only to cloud his image. For the person
this research analyzed was seemingly capable of nothing save
self-indulgence.
She knew there was only one place to start the search. Europe. The banks.
Not all, she rationalized, but several. For regardless of the complexities
of growth and the excesses of diversification, the fundamental practice of
banking had remained constant since the time of the pharaohL You put money
in and you took money out. And whether for necessity or for pleasure the
money withdrawn went someplace else. It was that other place, or those
other places, that Elizabeth wanted to find. For it was this money, the
money that Waterman Trust sent to the sixteen European banks, which would
be used until such time as the securities might be sold.
At ten minutes to nine the butler opened the front door for Waterman Trust
Company’s newest second vicepresident, Jefferson Cartwright He showed
Cartwright into the library where Elizabeth sat behind the desk with the
Inevitable cup of coffee in her hand.
Jefferson Cartwright sat on the small chair in front of the desk aware that
it flatteringly accentuated his size. He put his briefcase by his side.
“Did you bring the letters?”
“I have them right here, Madame Scarlatti,” answered the banker, lifting
the briefcase to his lap and opening it. “May I take this opportunity to
thank you for your kind intercession on my behalf at the -office. It
certainly was most generous of you.”
128
“Thank you. I understand you!ve been made second vice-president.’*
‘Mat’s correct, ma7am, and I do -believe the good word from you made it
possible. I thank you again:’ He handed Elizabeth the papers.
She took them and started scanning the top pages. They seemed to be in
order. In fact, they were excellent.
Cartwright spoke quietly. “The letters authorize you to receive all
information regardin! any transactions made by your son, Ulster Stewart
Scarlett, at the various banks. Deposits, withdrawals, transferals. They
request access to all safety deposit boxes where they may exist. A coverin!
letter has been sent to each bank with a photostat-of your signature. rve
signed these in my capacity as repreo.. sentin! Waterman% collective power
of attorney for Mr. Scarlett. By doin! it, of course., rve taken a
considerable risk.”
‘I congratulate you.”
“Ies simply incredible,” the banker said quietly. “Securities worth over
two hundred and seventy million dollars. Missin!, unaccounted for. Just
floatin’ around somewhere. Who knows where? Even the largest bainkin syndi-
cates have trouble raisin! such capital. Oh, ies, a crisis, ma!aml
Especially ‘in a highly speculative market I honestly don’t khow what to
dm-
“Ifs possible that by keeping your own counsel youll spend many years
drawing a remarkable salary for very little effort. Conversely, iea also
possiblo-~
“I think I know what the other possibility is.” mterrupted Jefferson
Cartwright. “As I see 14 yotfre lookin! for information connected with the
disappearance of your child. You may find it, N it exists. You may not. In
either case, therere twelve months remainin! before the first of the bonds
will be missed. Twelve months. Some of us might not be on God!s good earth
then. Others of us could be facin! ruin.”
“Are you forecasting my demise?”
,11 certainly hope not But my own position is most delicate, rve violated
the policies of my firm and the basic ethics of the bankin! business. As
your son!& financia adviser, the aspect of collusion will be raised~
-And yoled feel more comfortable with a settlement. Is that it?- Elizabeth
put down the letters, angry with this
129
ungrateful Southerner. “I bribe you and you proceed to blackmail me on the
strength of my bribe. Ifs clever strategy. How much?”
‘Tm sorry I make such a poor impression. I don’t want a settlement. Thatd
be demeaniW.”
“Iben what do you want?” Elizabeth was becoming exasperated.
“rve prepared a statement In triplicate. One copy for you, one for the
Scarwyck Foundation, and one, of course, for my lawyer. I’d appreciate your
perusin! it for your approval.”
Cartwright withdrew the papers from his -briefcase and placed -them before
Elizabeth. She picked up the top copy and saw that it was a letter of
agreement, addressed to the Scarwyck Foundation.
This is to confirm an agreement between Mr. Jefferson Cartwright and
myself, Mrs. Elizabeth Wyckhain Scariatti, in my position as chairman of
the board of the, Scarwyck Foundation, 525 Fifth Avenue, New York, New
York.
Whereas, Mr. Cartwright has given generously of his time and professional
services in my behalf and in behalf of the Scarwyck Foundation, it is
agreed that he be made advisory consultant to the foundation with an
annual salary of fifty thousand dollars ($50,000), said position to be
held throughout his natural life. Said position to be made effective as
of the above date.
Whereas, Mr. Jefferson Cartwright often has acted in my behalf and in
behalf of the Scarwyck Foundation against his better judgment and in
opposition to his own wishes, and,
Whereas, Mr. Cartwright performed a services in the manner his client,
myself, firmly believed was for the betterment of the Scarwyck
Foundation, he did so without anticipating said responsibility and often
without fun knowledge of the transactions.
Therefore, it is agreed that should there be at any future dates any
fines. penalties, or judgments against Mr. Cartwright evolving from such
actions, they will be paid in full from MY Personal accounts.
It should be added that no such actions are anticipated, but as the
interests of t~e Scarwyck Founda-
. 130
tion are international in scope, the demands excessive, and decisions
often subject to my own opinion, the inclusion of such a statement is
deemed proper.
It should be noted that Mr. Cartwright’s exceptional services in my
behalf have been rendered in confidence during the past months, but that