Thomas Cochran, partner in J. P. Morgan & Co., arrived last week on the swift Mauretania. Reporters wasted no time in cornering him. Said he: "I have a statement ready. It is six words long. Take it down carefully. 'A singed cat dreads the fire.' That is all."
The cat was Mr. Cochran. The fire was The Press. The singeing was an incident in August 1926, when Mr. Cochran, sailing for Europe, was reported by a ship news reporter as having said that General Motors stock would go higher, much higher. Wall Street, on reading...
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