HIGH FINANCE: Hatry's Return

When swindler Clarence Charles Hatry was sentenced to 14 years in jail (two of them at hard labor), he lamented: "My name has become a byword, and I am irretrievably ruined."

That was in 1930, at the bar of London's Old Bailey. Hatry's name was indeed a byword—for financial juggling at its most spectacular. When all his Indian clubs clatter-banged down together in 1929, investors lost $145,000,000. Hatry's crash shook shaky Wall Street. But last week Clarence Hatry, out of jail, was far from irretrievably ruined. From the look of things he was building up another fortune—his third.

Hatry, now 56,...

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