Coffee by gren blackall Read Free Book Online Page A

outstretched arm. They all hooked arms, and walked out,
somewhat unsteadily, into the night.

- Chapter Five -

    With
Monday and Tuesday lost to all the excitement, and Wednesday a
virtual disaster from a wicked headache, Etty spent Thursday and
Friday anxiously studying. Not only did she have a demanding
schedule for completing her dissertation, she had four difficult
graduate classes. Lectures, teacher conferences, research time,
student study groups, and an overwhelming amount of homework kept
her busy every minute. By Friday afternoon when the phone call
came, she had hardly given the Coffee Options a thought for two
days.
    “Hello?”
she said after picking up the phone in her office.
    “Is
this Harriet V. E. Bishop?”
    “Yes,
who is this?” The Finance Department allowed her a small
cubicle where she could work with a little more privacy than the
undergraduate and graduate students - one of the few perks of the
PhD program. A computer with a network connection, and a phone were
hers for the year.
    “My
name is George Leeson, Ma’am, from the Securities and Exchange
Commission of the United States.” He spoke with a southern
accent, Texan Etty thought. “I’d like to talk to you
about some Options trades executed by Dartmouth’s Treasury
this week.”
    Etty’s
heart pounded harder. “What about them?”
    “First
I’d like to verify a few things with you, exactly your
involvement.”
    ‘Get
a grip,’ she thought.
    “Is
it true, Miss Bishop, that you served as an advisor in the purchase
of nearly twenty million dollars worth of Coffee options two days
ago, on Tuesday the 3rd of December?”
    “Yes
I did.”
    “Did
you base that strategy on a suspicion that the market in Coffee
might have been illegally manipulated, leading to an opportunity to
gain financially?”
    “Wait
a minute, here. Are you accusing me of wrongdoing? I’m not
sure I should answer ....”
    “Calm
down. I’m just trying to understand the details. Did you
write a short paper, signed by you and time stamped Tuesday morning
at 9:43am with full details, including a line, and I quote, ‘I
take full responsibility for the recommendation to Warren Sherman of
these Coffee option trades?’”
    “How
did you get that? What is this?”
    “Please,
Miss Bishop, answer the questions.”
    “No,
I will not! I want you to explain to me exactly what I am being
accused of doing, and then, if this is a serious matter, I request
time to get legal advice.” Etty’s anger was fueled by
apprehension. She stood up to look over the partition of her
cubicle to see who else might be hearing this, and fortunately found
she was alone.
    “You
don’t need to be upset, Miss Bishop. I’m not accusing
you. Did you write the paper, or didn’t you?”
    “I
did, but I refuse to answer any further questions.”
    The
man paused. “Let me explain. I represent the S.E.C., the
regulatory body over all security related transactions in the
country. I run the department that investigates fraudulent
transactions, and I get involved in only the biggest ones. You’ve
stumbled into a big one all right. Tell me honestly, you mean to
tell me you had no thought that your trades were illegal?”
    “No,
I mean, I don’t know.” What a stupid response, she
thought.
    “Well
then, let me be the first to tell you. They were. But you’re
not the one in real trouble - that would be your friend Warren
Sherman. He’s a registered broker, the one who executed the
trades.”
    “How
did you find my paper?”
    “We
saw the trades, called the Dartmouth Treasurers office, and they led
us to your advisor. They faxed it to us. Not too difficult. But
Miss Bishop, this has the potential of leading to some serious
indictments and I need to ask you a few questions.”
    “What
did Warren say?”
    “We
haven’t called him yet. We understand by your paper that you
dreamed this up, so we’re starting with you.”
    She
rolled pieces of a newspaper into little balls as she talked.