Yankee Horse Trade

In small (pop. 5,000) Bellows Falls, Vt., bankers mulled over an exciting proposition. As usually happens when any portentous matter confronts the upper Connecticut River Valley, the bankers had called in Eugene Cray, 61, from North Walpole (pop. 1,500) on the New Hampshire side of the river.

To Cray, a real-life cross between David Harum and Scattergood Baines, the bankers spelled out the problem. In Brattleboro, 20 miles down the river, the United Murray Heel Co. had an antiquated factory, like many another New England company, and wanted to move. But it couldn't...

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