By forum easters

And below:

FIRST MERC AMERICAN IN TROUBLE?

MANY COME TO “HELP”

WITH SMALL DEPOSITS

Pictures and a two-column by-line story followed.

“Oh brother!” Margot breathed. “How FMA will hate that!”

They did.

Shortly after midday a hastily called conference took place on the 36th floor of First Mercantile American Headquarters Tower in the presidential suite.

Jerome Patterton and Roscoe Heyward were there, grim faced. Alex Vandervoort joined them. He, too, was serious, though as discussion progressed Alex seemed less involved than the others, his expression mostly thoughtful, with once or twice a flicker of amusement. The fourth attendee was Tom Straughan, the bank’s young and studious chief economist; the fifth, Dick French, Vice-president of public relations.

French, burly and scowling, strode in chewing an unlighted cigar and carrying a bundle of afternoon newspapers which he slapped down one by one in front of the others.

Jerome Patterton, seated behind his desk, spread out a paper. When he read the words, “First Merc American In Trouble?” he spluttered. “That’s a filthy lie! That paper should be sued.”

“There’s nothing to sue about,” French said with his customary bluntness. “The newspaper hasn’t stated it as fact. It’s put as a question and in any case is quoting someone else. And the original statement was not malicious.” He stood with a take-it-or-leave-it attitude, hands behind his back, cigar projecting like an accusatory torpedo.

Patterton flushed with anger.

“Of course it’s malicious,” Roscoe Heyward snapped. He had been standing, aloof, by a window and swung back toward the other four. “The entire exercise is malicious. Any fool can see that.”

French sighed. “All right, I’ll spell it out. Whoever is behind this is good at law and public relations. The exercise, as you call it, is cleverly set up to be friendly and helpful to this bank. Okay, we know it’s neither. But you’ll never prove that and I suggest we stop wasting time with talk about trying to.”

Roscoe Heyward asked, “Do we know yet who the organizers are?”

“Not specifically,” French said. “I talked with Nolan who says he’s working on that. Not that it makes much difference.”

“And if you’re interested in the latest from the downtown branch,” Tom Straughan contributed, “I went in through the tunnel just before coming here. The place is still packed with demonstrators. Almost no one can get in to do regular banking business.”

“They’re not demonstrators,” Dick French corrected him. “Let’s get that clear, too, while we’re about it. There’s not a placard or a slogan among the lot, except maybe ‘Act of Hope.’ They’re customers, and that’s our problem.”

“All right,” Jerome Patterton said, “since you know so much about it, what do you suggest?”

The p.r. Vice-president shrugged. “You guys pulled the rug from under Forum East. You’re the ones who could put it back.”

Roscoe Heyward’s features tightened.

Patterton turned to Vandervoort. “Alex?”

“You know my feelings,” Alex said; it was the first time he had spoken. “I was against the cut in funds to begin with. I still am.”

Heyward said sarcastically, “Then you’re probably delighted about what’s going on. And I suppose you’d give in gladly to those louts and their intimidation.”

“No, I’m not in the least delighted.” Alex’s eyes flashed angrily. “What I am is embarrassed and offended to see the bank in the position it’s been placed. I believe what’s happening could have been foreseen – that is, some response, some opposition. What matters most at the moment, though, is to set the situation right.”

Heyward sneered, “So you would give in to intimidation. Just as I said.”

“Giving in or not giving in is immaterial,” Alex answered coldly. “The real question is: Were we right or wrong in cutting off funds from Forum East? If we were wrong, we should have second thoughts, along with courage to admit our error.”

“That rabble can’t possibly keep up what they’re doing,” Heyward declared. “I predict that if we maintain our stand, refusing to be bluffed or stampeded, the entire exercise will fizzle out tomorrow.”

“And I,” Alex said, “predict it will continue through next week.”

In the end, both predictions proved erroneous.

In the absence of any softening of attitude by the bank, inundation of the downtown branch by Forum East supporters continued through all of Thursday and Friday, until the close of business late Friday afternoon.

The big branch was almost helpless. And, as Dick French predicted, nationwide attention was focused on its plight.

Much of the attention was humorous. However, investors were less amused, and on the New York Stock Exchange on Friday, First Mercantile American Bank shares closed a further two and a half points lower.

Meanwhile, Margot Bracken, Seth Orinda, Deacon Euphrates, and others went on planning and recruiting.

On Monday morning the bank capitulated.

At a hastily called press conference at 10 A.M., Dick French announced that full Forum East financing would be restored at once. On behalf of the bank, French expressed the good-natured hope that the many from Forum East, and their friends, who had opened accounts at FMA over the past several days, would remain bank customers.

When the FMA announcement was read to Forum East supporters at both branch banks, there was some cheering, after which the assembled groups quietly dispersed. Within half an hour, business at the two branches returned to normal.

The matter might have ended there except for an information leak which, viewed in retrospect, was perhaps inevitable. The leak resulted in a newspaper commentary two days later – an item in the same column, “Ear to the Ground,” which first brought the issue out into the open.

Were you wondering who was really behind those Forum Easters who this week brought the proud and mighty First Mercantile American Bank to heel? The Shadow knows. It’s Civil Rights Lawyer – Feminist Margot Bracken – she of “airport toilet sit-in” fame and other battles for the humble and stepped-on.

This time, despite the “bank-in” being her idea, on which she labored, Ms. Bracken kept her activity tiptop secret. While others fronted, she stayed out of sight, avoiding the press, her normal allies. Are you wondering about that, too?

Stop wondering! Margot’s great and good friend, most often seen with her around town, is Swinging Banker Alexander Vandervoort, exec veep of First Merc Am. If you were Margot, and had that connection cooking, wouldn’t you stay out of sight?

Only thing we’re wondering: Did Alex know and approve the siege of his own home plate?

“Goddamit, Alex,” Margot said, “I’m sorry!”

“The way it happened, so am I.”

“I could skin that louse of a columnist alive. The only good thing is that he didn’t mention I’m related to Edwina.”

“Not many know that,” Alex said, “even in the bank. Anyway, lovers make livelier news than cousins.”

It was close to midnight. They were in Alex’s apartment, their first meeting since the siege of FMA’s downtown branch began. The item in “Ear to the Ground” had appeared the day before.

Margot had come in a few minutes ago after representing a client in night court – a well-to-do habitual drunk, whose habit of assaulting anyone in sight when he was boozed made him one of her few steady sources of income.

“The newspaper writer was doing his job, I suppose,” Alex said. “And almost certainly your name would have come out anyway.”

She said contritely, “I tried to make sure it didn’t. Only a few people knew what I was doing, and I wanted it to stay like that.”

He shook his head. “No way. Nolan Wainwright told me early this morning – these were his words – ‘the whole caper had Margot Bracken’s handwriting on it.’ And Nolan had started to quiz people. He used to be a police detective, you know. Someone would have talked if the news item hadn’t appeared first.”

“But they didn’t have to use your name.”

“If you want the truth” – Alex smiled – “I rather liked that ‘swinging banker’ bit.”

Assignment:

Answer the following questions.

1. What was the first hint of trouble?

2. Why wasn’t Edwina’s concern surprising?

3. Why did Alex Vandervoort change his mind about checking it with Jerom Patterton, the bank’s new president?

4. Why did Alex appear to be more concerned a few days later? How was the problem of Forum East presented in the daily “Times-Register”?

5. Describe the clash of opinions between Roscol Heyward and Alex Vandervoort in the president’s office:

   1. Why did Roscol Heyward insist on his proposal for a drastic cut in Forum East financing?

   2. Why did Alex Vandervoort object to weaseling out of Forum East?

6. How can you account for the position Jerom Patterton took in the conflict?

7. What was the executive committee meeting of the Forum East Tenants Association to determine on Thursday evening?

8. Why did Margot insist on staying legal in their action against the bank?

9. What did Margot mean by saying that banks had soft underbellies?

10. What was the committee members reaction to Margot’s idea how to squeeze money out of the bank?

11. Why was the procedure of opening a new account so time-consuming?

12. What frantic measures was the bank taking to cope with the growing mass of arrivals?

13. What was the problem with the regular customers? Why was it dangerous to play “favourites”?

14. What explanation of this most unusual incident was offered by the newcomers? Who was chosen to be the spokesman for Forum East? Describe the manner in which Seth Orinda mouthed his explanation.

15. What other signs made Edwina think that there was someone behind the scenes who had staged the whole performance?

16. How did the tenants of Forum East intend to bring the business of the entire branch bank to a standstill if the bank refused to restore the full financing of Forum East?

17. Why did Edwina believe that the key organizing figure was not among the new arrivals?

18. What was the reason for Margot’s absence from the front line of action on Roselli Plaza?

19. Give details of Margot’s master plan in action. Why did she think that any suggestion that FMA was in trouble would touch a sensitive nerve?

20. What response did the activity at the bank receive in the press? How did the bank react to this “publicity”?

21. What made Dick French say that whoever was behind it all was good at law and public relations?

22. What do you think of Margot’s idea that ridicule is one of the stronger weapons in any arsenal?