“Yes, Your Honor, he is.”

“When and how did he become possessed of his stock?”

Mr. Tutt turned to Doc with an air of ineffectually striving to master his righteous indignation.

“Tell the court, Mr. Barrows,” he cried, “in your own words.”

Doc Barrows wonderingly rose.

“If you please, sir,” he began, “it’s quite a long story.  You see, I was the owner of all the stock of The Chicago Water Front and Terminal Company—­there was a flaw in the title deed which I can explain to you privately if you wish—­and when I was—­er—­visiting—­up on the Hudson—­I met a man there who was the owner of a hundred thousand shares of Horse’s Neck, and we agreed to exchange.”

The judge tried to hide a slight smile.

“I see,” he replied pleasantly.  “And what was the man’s name?”

“Oscar Bloom, sir.”

The gentlemen with the tall hats exchanged agitated glances.

“Do you know how he got his stock?”

“No, sir.”

“That is all.  Go on, Mr. Tutt.”

Doc sat down while Mr. Tutt again unhooked his lank form.

“To resume where I was interrupted, Your Honor, the directors controlling a majority of the stock of this corporation, the capital of which is ten millions of dollars, have made a contract to sell all of its properties to another corporation, organized by themselves and capitalized for one million, for the sum of one hundred and twenty-five thousand dollars!

“It is true that in their plan of reorganization they offer to permit any stockholder in the old corporation to subscribe for stock in the new at par—­thus at first glance placing all upon what seems to be an equality; but any stockholder who does not see fit to subscribe or cannot afford to do so is wiped out, for there will be nothing left in the way of assets in Horse’s Neck after the transfer is completed.

“Now these gentlemen have underwritten the stock in the new Lallapaloosa Company at fifty cents upon the dollar, and if this nefarious deal is permitted to go through they will thus acquire a property worth ten millions for five hundred thousand dollars, of which they will use only one hundred and twenty-five thousand in payment of old indebtedness.  In effect, they confiscate the equity of all the minority stockholders in Horse’s Neck who cannot afford to subscribe for stock in Lallapaloosa.”  He turned upon the uncomfortable tall hats with an arraigning eye.

“In the criminal courts, Your Honor, such a conspiracy would be properly described as grand larceny; in Wall Street perchance it may be viewed as high finance.  But so long as there are courts of equity such a wrong upon a helpless stockholder will not go unrebuked.  Have I made myself clear to Your Honor?”

Judge Pollak looked interested.  He was a man famous for his protection of helpless minorities and his court had been selected by Mr. Tutt on this account.