Hetty_ The Genius and Madness of America's First Female Tycoon - Charles Slack [61]
Kruttschnitt opened with a bid of $800,000. He and a couple of other interested parties bid the price incrementally up from there. Then the young man spoke up with a bid of $1.1 million. Kruttschnitt realized too late that he was in a bidding war with a determined buyer. As he stood trying to balance in his mind Huntington’s desire for the Waco and Northwestern versus his limitation of $1.25 million, the young man left him and the other bidders behind, with a winning bid of $1.365 million. It was all over in a matter of minutes. Commissioner Dart tapped his gavel and announced the winning bidder for the Waco and Northwestern Railroad—Edward Howland Robinson Green, on behalf of his mother.
The news, relayed by a sheepish Kruttschnitt, infuriated Huntington. And that, of course, had been the point. Huntington was quick to strike back. Using all of his considerable economic and political power, he and his associates magically produced liens against a large chunk of the land that went with the sale. Then, both local and state governments waded in, claiming that the land, all half-million acres, belonged to them. Through their lawyers, Ned and Hetty responded that they had believed in good faith that the land was included in the sale, pointing out that a railroad without any land was worth practically nothing. If the land wasn’t included in the sale, they wanted out. Now Huntington filed a second motion, asking that the Greens not be allowed to withdraw from their bid. In essence, Huntington had decided that if the Greens wanted to jump into the Texas railroad business, he would make it an experience they would never forget. Let them watch their $1.365 million go down the drain as the railroad died.
Litigation over the Waco and Northwestern stretched on for three years. One effect of the battle was that it made Hetty a folk hero among California farmers who hated Huntington. A group of San Franciscans sent her as a gift a .44 caliber revolver, along with a holster, belt, and cartridges, and a note promising that if she ever came to visit, they would turn out ten thousand strong at the depot to greet her. For Hetty, accustomed now to being on the receiving end of unflattering articles about her personal idiosyncrasies, this was an unfamiliar gesture of embrace. She relished it. She loved to tell friends about the gift, and also about the time, during the height of the battle, that Huntington came to see her at her office at the Chemical Bank. No doubt he went with the idea of intimidating her. During the course of the conversation, he threatened that if she and Ned (who remained in Texas) didn’t relent, he would see to it that Ned was tossed in a Texas jail. Hetty’s eyes narrowed on Huntington. “Up to now, Huntington, you have dealt with Hetty Green, the business woman. Now you are fighting Hetty Green, the mother. Harm one hair of Ned’s head and I’ll put a bullet through your heart!” She made a motion toward the revolver on her desk (perhaps the one sent to her from California). Huntington, surprised and alarmed, left the office so quickly that he forgot to take his silk hat. He sent an assistant for it the next day.
The dispute ended in 1895 with the court deciding that the land had not, in fact, been included in the sale, but that the Greens would not be held to the purchase. It was a muted victory for both sides. Hetty