having your troubles, eh? well, i won't take much of your time. my name's welbeck. i've been associated with this hospital for six years, and, yesterday afternoon, dr. gilley called me to say he was cutting off my privileges at the hospital. do you know anything about it?
he said he sent the report on.
well, i'm not sure myself. i did a nephrectomy on a man about seven days ago. emergency, called in at four in the morning. the man was hemorrhaging, he'd gone sour.
i have a laparotomy laid on for this morning. i assume i'll be allowed to go through with that.
i've been associated with this hospital for six years.
since last september. if they had that when i was your age, i'd have put away a couple of million by now. it gives you a variety of deferral devices, profit-sharing for example. let's say you pick yourself an october 31-fiscal. you declare a bonus payable in '71. an accrued item payable to a principle share-holder must be paid within two and half months after the close of the year to get the deduction in the prior year. but your corporation doesn't pay that tax, because we've eliminated the taxable income with the bonus. with two taxable entities, you can bury a hell of a lot of expenses.  hello, this is welbeck, any messages?.  well, i'm at the hospital. i have to cut open some guy in a couple of minutes. i'll try to make it as fast as i can. how urgent did he say it was?.  well, dr. hogan made those arrangements with the underwriters. the registration statement was filed with the s.e.c. well over a year ago.  if he calls again, have me paged here. the really big money is in health leasing, of course. dr. hogan, the eminent orthopedic surgeon, and i incorporated a leasing company and went public last year. i hold a controlling interest in a number of proprietary hospitals, nursing homes and rest farms, and i've been leasing hospital equipment to my own hospitals at excessive rates. why, you ask, am i draining my own hospitals? well, my hospitals are taxed at 48 percent, and i'm giving my leasing company a hell of a price-earnings ratio, which'll balloon the market value of the stock. i hold three hundred thousand shares of that stock, lettered of course, but in a year, i'll dump those shares at a capital gain and walk off with a bundle.
i'm dr. welbeck. i have a patient on this floor named drummond, and i'd like to see his chart.
oh, dr. bock. can i have a few minutes of your time, sir?
dr. gilley tells me you're the one who initiated these proceedings against me.
i'd like to know what you have against me.
excuse me for a moment, doctor. this is dr. welbeck. were you paging me? how much do you make a year, bock? for a guy who makes a lousy forty, fifty grand.  hello, arthur, i understand you've been trying to reach me all morning.
oh my god, arthur! what are you talking about? have you talked to dr. hogan about this?
oh, my god, arthur. well, who held title? do the underwriters know about this yet?.  oh my god! arthur, what're you waiting for? arrest the son of a bitch! turn him in!.  oh my god! when?.  of course, arthur, call me right back. i'm at the holly pavilion, eighth floor. please! right away!
all right?! that son of a bitch is trying to wipe me out! my partner, the eminent orthopedic surgeon, dr. noel hogan, is a miserable thief. and he's trying to wipe me out!
what room is it?
i'm expecting a phone call. put it straight through to me in that room.
the son of a bitch has been draining the company with phony purchase orders on another company, of which, it now turns out, his wife is the principal stockholder! transparent fraud! i'll send him up for twenty years!
well, drummond, you don't seem that much the worse for the wear.
would you mind using some other phone? i'm expecting an important call.
you've got a bit of fever, drummond, but you're coming along very well.
that's mine. it's welbeck here.  yes, arthur, go ahead.
oh, my god, what do you mean? how many transactions were there? bu.  but arthur, i.  i borrowed against that stock! i'm in the hole for over three hundred thousand!.
what do you mean, brazil?! i just spoke to hogan's office yesterday, and they just told me.
i'm wiped out. the s.e.c. has suspended trading in my stock!