Chapter Fourteen

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 three-week 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 approximately 270 million taken from Waterman. Forced sale equivalent between 150 and 200 million. All bills and charges in Ulster’s and Janet’s name from European accounts 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 Month of March, Ulster’s behavior considerably altered, withdrawn.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 Confirmation received from fourteen European banks that all moneys withdrawn previously.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 Ulster’s 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 withdrawals; 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 pharaohs. 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 vice-president, 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.’

‘Thank you. I understand you’ve been made second vice-president.’

That’s correct ma’am, 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. I’ve signed these in my capacity as representin’ Waterman’s collective power of attorney for Mr Scarlett. By doin’ it, of course, I’ve taken a considerable risk.’

‘I congratulate you.’

‘It’s 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 bankin’ syndicates have trouble raisin’ such capital. Oh, it’s a crisis, ma’am! Especially in a highly speculative market. I honestly don’t know what to do.’

‘It’s possible that by keeping your own counsel you’ll spend many years drawing a remarkable salary for very little effort. Conversely, it’s also possible—’

‘I think I know what the other possibility is,’ interrupted Jefferson Cartwright. ‘As I see it, you’re lookin’ for information connected with the disappearance of your child. You may find it, if it exists. You may not. In either case, there’re 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?’

‘I certainly hope not. But my own position is most delicate. I’ve violated the policies of my firm and the basic ethics of the bankin’ business. As your son’s financial adviser, the aspect of collusion will be raised—’

‘And you’d feel more comfortable with a settlement, is that it?’ Elizabeth put down the letters, angry with this ungrateful Southerner. ‘I bribe you and you proceed to blackmail me on the strength of my bribe. It’s clever strategy. How much?’

‘I’m sorry I make such a poor impression. I don’t want a settlement. That’d be demeanin’’

‘Then what do you want?’ Elizabeth was becoming exasperated.

‘I’ve 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 Wyckham Scarlatti, 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 all 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 full 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 the Scarwyck Foundation 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 from this date I have no objection to his position with the Scarwyck Foundation being made public knowledge.

There were two lines on the right for the signatures and a third line on the left for the signature of a witness. Elizabeth realized it was a professional document. It said nothing, but covered everything.

‘You don’t seriously expect me to sign this?’

‘I honestly do. You see, if you don’t, my overbearin’ sense of responsibility would make me go right to the authorities. No doubt direct to the office of the district attorney with information I believe relevant to Mr. Scarlett’s disappearance… Can you imagine the international stir that would cause? The mere fact that the celebrated Madame Scarlatti was goin’ to question the banks where her son did business—’

‘I’ll deny everything.’

‘Unfortunately, you couldn’t deny the missing securities. They don’t have to be redeemed for a year, but they are missin’.’

Elizabeth stared at the Southerner, knowing she was beaten. She sat down and silently reached for a pen. She signed the papers as he in turn took each page and did the same.