It started with Otto Heinze on the 9th of October 1907. He purchased a $96,000 seat on the New York Stock exchange to start the Otto C. Heinze and Company brokerage house. Thinking that they own a majority of United Copper Company stocks, he engineered a stock corner that would eventually bring down most banks and trust funds at that time. Otto Heinze noticed that stocks of United Copper co. was trading well over 25,000 more shares than the total outstanding shares accounted. He came into a conclusion that, this was mainly due to the other brokerage houses lending out shares to short sellers. For the months to follow, Otto Heinze would try to exploit this heavy short selling activity with United Copper company shares. It required about $2,000,000 to purchase what he thinks would be sufficient to acquire a controlling interest of United Copper shares. However, the president of the Knickerbocker Trust company Charles W. Morse estimated that, it would probably take over $3,000,000 to successfully execute the corner when the Heinze brothers consulted him. Otto Heinze’s plan was well rejected by his brothers and Morse. This was mainly due to the fact that United Copper Co. has been buying its own shares on margin to support its declining stock price. But this share buy back activity was not put into consideration on their verdict that, it was merely due to the short sellers causing the price of United Copper Co. shares to drop in value. The Heinzes were already indebted to their brokers for their margin purchases. Ignoring all of these red flags, Otto Heinze still executed his plan to corner shares of United Copper Co.