Arnold was a wise one. He knew how to work the game. First he sent
to New York and bought the famous race horse Gold Heels. This horse
had won many of the great Eastern classics. He broke a tendon and was
useless, but Arnold's investors did not know that. They would swear
by Gold Heels. Then he caused his "bank" to issue a letter along the
following lines:
American Central Trust Company.
Capital--$1,000,000. Surplus--$500,000.
S. Schnurmacher, President.
Wm. S. Simpson, First Vice-President.
Joseph Wachtel. Second Vice-President.
Franklin P. Hunkins, Third Vice-President.
Edward Bauder, Secretary and Treasurer.