"Gentlemen," said he, "of course this is the big part of our company patents, and it is over this that we've met to-day. You've been doubting my executive ability. I have shown you what the prize is that we're working for---there it is on the table. As to the difficulties of pulling off a thing as big as this, they are bigger in this case than could be expected or figured out in advance. Our superintendent, Mr. Halsey here, tells me that he is having a great deal of trouble in labor matters. The men are discontented, and what is worse, they're _curious_, all the time. We can't employ just any sort of irresponsible labor, and we can't complete one machine--we've got to bring them _all_ through, at once, together--indeed, got pretty near to finish them all ourselves. We can't take any people in on this secret, of course. It all takes time, and it all takes money. "I've got my report here, all these pages, which I'll not trouble you to read unless you like. What I want to say is this: we've got our power plant, and our wire transmitter system, and we're making money on that, as everybody knows. We can pay dividends on the old way of transmitting power, developing the 'juice' by water power and peddling it out by wire. We can pay ten per cent., and a stock dividend every year, for we are earning nineteen and eight-tenths per cent. now, on wire work alone, not mentioning our exclusive franchises. Nobody can put a value on those. Up to this time most of us have been contented to reach out and get hold of water powers in the old way--that didn't look so slow to us then as it does now. If we should throw away, entirely, this part of our device, we still would stand just as safe as we ever would have stood. "Again, suppose we wanted to play the market, and throw away every idea of using this second current of electricity. We could list this stock to-morrow and make it the most active issue on the Street. That's plain to all of us. "Again, let's reason over this matter and see whether it isn't impatience and not distrust which is troubling all of us. We haven't really spent so very much money in the receiver installations. There isn't a stockyards firm in Chicago which doesn't put aside a bigger appropriation every year for scientific experimenting than we're putting into what is no experiment, but a certainty. It is a drop in the bucket, as my figures here show distinctly.