Russell Purchases Hockaday

Through this maelstrom of congressional bickering and administrative ill-will, seemingly only W. H. Russell, the great opportunist, had a clear eye to the future. A month after Postmaster General Holt crippled Hockaday by his order to halve the service, Russell acquired the outfit, lock, stock and barrel. The deal was an entrepreneur’s dream. Russell put up no cash, allowing Hockaday to keep the current quarter’s contract payment, and gave the financially and physically ailing operator promissory notes totaling $120,250 for the balance.