affair. Powell will have to listen then.'
'Well, that's all fine and dandy,' said Cash. 'But how in hell's name are we going to do that?'
'I may have an idea. Let me think for a moment.'
They were quiet as I stared out of the window.
There was a way, I was sure.
I outlined the germ of an idea. We discussed it and refined it over the next couple of hours, until we had quite a workable plan.
I joined Cash and Cathy in their taxi back to Bloomfield Weiss. I waited in the reception area for an hour or so. Eventually Cathy came back with an armful of prospectuses, annual reports and computer print-outs. I took them from her and headed back to my flat.
To work. I had information on five American companies that were currently in deep trouble. I laid the collection of annual reports, price histories going back two years, and reports from Standard and Poor's, Moody's, Valueline and various brokers, in five neat piles. I began to work through them. I needed to pick one company that looked just right. I had to look at each one from three different angles: what I personally thought of the company's real prospects, what Hamilton would think, and what the market would think. I had to get the combination of these perceptions exactly right.
I broke off at three. I needed to make some phone calls. The first was to De Jong & Co. Karen answered the phone.
'Hi, Karen. It's Paul. How are you?' I said.
Karen sounded pleased to hear my voice. 'I'm fine, how are you?'
'Is Hamilton there?'
Karen's voice became much more serious. 'I'll just have a look.'
I waited a few seconds, and then Hamilton's voice came down the other end of the wire, 'McKenzie.'
I was not prepared for the response hearing Hamilton's voice would arouse in me. It was a physical revulsion; the blood rang in my ears, and the hairs on my skin suddenly became very sensitive, so that I could feel my shirt rubbing against them. A feeling of sickness welled up somewhere near my diaphragm. Rationally I knew Hamilton had betrayed me. I was not aware until then how deeply I felt it emotionally.
'Hallo, Hamilton. It's Paul.'
'Ah, Paul, how are you?'
'Fine, I suppose. I wanted to ask you something.'
I could almost feel Hamilton stiffen on the other end of the phone line. 'What's that?'
'I wonder if I could come in to the office to work out the rest of my
There was a second's pause whilst Hamilton thought this through. 'That will be fine. You will be very welcome. I am afraid I can't let you trade, of course, but we would be happy to have you. As a matter of fact, there are one or two analyses that need doing.'
'Good,' I said. 'I'll see you tomorrow morning.'
So far so good. Next was Claire. As I expected, that was no problem, she was positively eager to help. Denny was more difficult. I knew I was asking a lot from him. He would have to do a fair amount of legal work for which he might not get paid if our plan failed. I didn't think that what we were intending to do was actually illegal, but it was certainly close. We talked for half an hour before Denny eventually said he would help, to my intense relief.
Now, the call I had been positively relishing. I dialled a Las Vegas number.
'Irwin Piper's office,' said a secretarial voice, exuding cultivation, politeness and authority. I asked for Mr Piper. 'I am afraid Mr Piper is not here right now. Can I take a message?'
I had expected it would be difficult to get through to him. I had thought through my message beforehand. 'Certainly. Can you tell him Paul Murray called? Can you tell him that unless he calls me back in the next two hours, I will call the Nevada Gaming Commission to discuss Mr Piper's trading in Gypsum of America bonds through his Liechtenstein bank?'
It wasn't subtle, but it worked. Piper was on the phone within ten minutes. I didn't repeat my threat; I had made it once and that would be enough. I asked Piper politely for his help. I told him why it would be in his interests to give it, that helping me would solve his problem as well as mine. I explained what I wanted him to do.
I was surprised by his reaction. He was enthusiastic. 'Sure, why not?' he said. 'I went to a lot of effort to make sure the Tahiti is as clean as a whistle, and this Tremont Capital business nearly screwed all that up. It sounds fun. I was planning to come to England soon anyway. And it would be nice to get you off my back.' I assured him I would forget all I had ever learned about him. We discussed dates and details for a few minutes and then hung up.
I dialled Cash. 'How did you get on?' he asked.
'Everyone agreed to help. Piper even seemed to relish the idea,' I said. 'I think I have found the company we are looking for.' I told him the name. 'Can you check out how it is trading? Who owns bonds, whether there are any sellers likely to emerge in the next few days, that sort of thing?'
'OK. Talk to you later.'
It was good to be in a suit again. As I walked into the Colonial Bank building and took the lift up to the twentieth floor, I felt tense but ready.
The small trading room froze as I walked in. Jeff, Rob, Gordon and Karen all stared at me for a second or two, before putting their heads down to paper and telephone. Hamilton took no notice of my entrance. There was a young man with glasses sitting at Debbie's desk. Her replacement. I was glad that Hamilton had not yet found a replacement for me.
I strode into the room. 'Morning, everyone,' I said loudly. There were a few murmured responses. 'Hallo, Karen. Miss me?' I shouted across to her. Karen, at least, smiled. It was something.
I walked over and introduced myself to the young man at Debbie's desk. He said his name was Stewart. 'My name's Paul. I work here,' I said. I saw Jeff stiffen out of the corner of my eye. Stewart was thrown into complete confusion, and blurted out something incoherent. He clearly knew who I was. He was torn between natural politeness and not wishing to be seen consorting with a criminal.
Hamilton finished his call, and came over. He was friendly enough, at least by his standards. 'Morning Paul. Nice to have you back. You can sit at your old desk.' The word 'old' jarred. 'A couple of ground rules. I would rather you didn't have any contact with the market at all whilst you are in our offices, so don't answer the phone, and don't make any calls to any salesmen.'
'You don't mind if I use the phone to ring headhunters, do you?' I asked.
'No, that's fine.' He dropped some papers on my desk. 'I have got a couple of US regional banks I would like you to take a look at. They have just been downgraded to triple B, and their bonds are yielding almost 12 per cent. If they are safe, I would like to buy some.'
Typical of Hamilton, I thought. He would make the maximum use of me that he could whilst I was there. But I was glad to have some real work to do. I would be more inconspicuous with my head buried in an annual report than hanging around trying to make work for myself.
No one talked to me all morning. I only caught the odd sideways glance. I couldn't really blame them, no one likes a crook. It was sad. They probably felt let down by me. Well, all that will soon be over, I thought. I tried to catch Rob's eye, but he was having none of it. He made sure that he was always deeply involved in phone conversations, eyes fixed on the screens in front of him.
The morning wore on. I looked at the clock on the trading-room wall. Ten fifty-nine. At eleven o'clock precisely, I heard Rob call, 'Hamilton! Claire on two.'
I watched Hamilton as he spoke to Claire. I knew what she was saying, but it was impossible to see Hamilton's reaction. They talked for five minutes. After they had finished, Hamilton leaned back, and stroked his beard. A good sign. He was nibbling at the bait. He sat like that for two or three minutes before suddenly getting to his feet and walking towards me. I quickly stared down at the balance sheet in front of me.
'Paul, I wonder if you would have a look at something for me?'
