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Monday, June 3, 2013

MILKSOP Chapter 5


Tricky Business Investments
courtesy photobucket.com
 
The next day classes started and Agnes showed up for the first class.

Archie introduced her to Nancy and while they didn't have a lot in common they did get along real well, and they both hung out with Archie most of the time.   
 
Besides the regular studies at school each of them had a separate interest and was also perusing that.

It appeared that if Agnes stayed with the R.O.T.C. program until she graduated she could go on to officer's school. This was her goal and it looked like she was a shoo-in.

Nan had taken an interest in fashions, and began to study in that field. She had got a couple of modeling jobs because she was shapely, and very pretty.

As for Archie he was beginning to want to understand how high finance worked. His aunt had considerable savings and investments.

When Archie pressed her how much money she had, and what investments her holdings were - - she hesitated telling him at first. 

When she was convinced his interest was primarily educational, and not wanting to take her money, she relented.

She told him that she trusted her broker to handle her money in a sane and safe way.  
 
After she allowed Archie to examine her portfolio he asked if he could copy it and study the last few years of her investments by her broker.

For the next three days in his spare time he studied her paper work and became convinced something was wrong. He asked his aunt did she know how much value she presently had in her investments, and she said, "I have no idea."

Archie had met one of Nan's friends named May, and also met her father who happened to be an investment banker.  Archie asked him if he would look over the investment history of someone he knew, and see if it was being handled properly.

At first May’s dad said he didn’t have time to do that, but May insisted that he help Archie because he was going to go into the financial field when he graduated from college.  
     
Archie was embarrassed by what she said for college was still a couple of years away if he went at all.

After an hour viewing the reports, and a phone call or two he told Archie I think someone has taken your friend for a ride.  They have almost reduced her to being broke.  Then Archie told him that his friend was actually his beloved Aunt.

May’s father said, “It looks like the firm has bought some high risk stocks cheaply, and sold them to her at a high price. Of course this is illegal but your Aunt will have a difficult time getting her money back without going broke from attorney fees.”

Then he said, “Let me make a phone call to one of the toughest lawyers alive for he relishes a situation like this.  We went to law school together and maybe I can interest him in this.”

From the next room Archie could hear part of their conversation.  May’s dad called him Harvey J. because that was the way everybody knew him.  An appointment was set up for the next day, and the two of them went to see Harvey J.

It only took Harvey J. a half hour, and then he said, “I think these crooks are going to be glad to return her money, and a bit extra also.”

Harvey J. hastily wrote up an agreement for Archie's Aunt to sign giving him the right to represent her, and told Archie to have it back by tomorrow.

Archie dreaded telling his aunt about what he had discovered, and what needed to be done, but he knew he had to do it. 

His Aunt couldn't believe she had been taken advantage of in this manner for they had always been so nice to her.

Of course she signed the agreement, and Archie knew she was going to have several sleepless nights, for her lively hood depended upon her investments.

To be Continued

 

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