This legal process of purification for Clark's Field being under way,
the ingenious mind of Mr. Ashly Crane turned to the next problem, which
was to dispose of the property advantageously. Manifestly the Washington
Trust Company could not go into the real estate business on behalf of
its ward and peddle out slices of her Field. That would not be proper,
nor would it be especially profitable to the trust company. Mr. Crane,
therefore, conceived the brilliant idea of forming a "Clark's Field
Associates" corporation to buy the undeveloped tract of land from the
trust company, who as guardian could sell it in whole or in part, and
the new corporation might then proceed at its leisure to "develop" the
old Field advantageously. For the benefit of the ignorant it maybe
bluntly stated here that this was merely a device for buying Adelle's
property cheaply and selling it at a big profit,--not as crude a method
as the other that the Veteran had almost fallen a victim to, because the
Washington Trust Company was a "high-toned" institution and did not do
things crudely; but in effect the device was the same.
The Clark's Field Associates was, therefore, incorporated and made an
offer to the trust company for Clark's Field,--a fair offer in the
neighborhood of a million dollars for the fifty-acre tract of city land.
An obstacle, however, presented itself at this point, which in the end
forced the Associates to modify their plan materially. The sale had to
be approved by the probate judge, the same Judge Orcutt who had once
before befriended the unknown little girl. This time the judge examined
the scheme carefully, even asked for a list of the Associates, which was
an innocent collection of dummy names, and finally after conference with
the trust officers insisted that the ward should reserve for herself one
half the shares of the Clark's Field Associates, thus obtaining an
interest in the possible benefits to be derived from their transactions.
This was accordingly done, and the subscription to the stock of the new
corporation by some of the capitalists who had been invited to
"participate" in this juicy melon was cut down one half. They were not
pleased by the act of the probate judge, but they accepted half the
melon with good grace, assuring the judge through Mr. Crane that it was
a highly speculative venture anyhow to put Clark's Field on the market,
and the Associates might lose every penny they risked on it. The judge
merely smiled. Poet that he was, he was by no means a fool in the
affairs of this life.
Public-domain text, read in full here on John Shaqi.
Reviews
Reviews
No reviews yet
Be the first to share your thoughts on this work.
Elsewhere in the archive
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account