British Columbia -- Fiction; Families -- Fiction; Lumber trade -- Fiction
"There were seven shareholders. Five owned two shares apiece. Two
are clerks who disappeared in the draft. Three are bond
salesmen--forty-dollar-a-week men. The two who owned the bulk of the
stock--well, one's a sort of confidential man in Richston's office.
The other was for ten years in Wall's employment. They're both out
of the country; with a few thousand dollars apiece, I imagine.
Dummies--pure and simple. You can guess who got the money. But you
can't prove anything. I doubt if you could take legal action against
those foxy old birds if you had proof that the pair of them looted
Spruce Supplies. It was ostensibly a legal transaction. The Norquay
Trust Company should have protected itself, you see."
"And that's only one of several such," Hale concluded. "They made a
milk cow of this business. They saw that funds were invested where
they would do the most good--for them. They simply made a goat of
Grove."
Rod stared at the figures on a sheet of paper before him.
"Liabilities practically four hundred thousand in excess of available
assets," he murmured. "That's a hump to get over. How long can we
reasonably expect to go on--I mean how much grace will we have to
meet everything without going into forced liquidation?"
"With a fair amount of revenue from some outside source--say eighty
or a hundred thousand every six months--we can go right along as
usual," Hale replied. "There's no immediate call for funds. All the
pressing obligations your father provided funds to meet. There's
only a dead loss that this concern can't shake off by its own
efforts. We can--we have--cut operating expenses to the bone. But
as a trust company we can't--legitimately--make money fast enough
ever to get even."
"There's only one outside source of revenue available, you know," Rod
reminded.
"Is it wise to go any farther?" Hale shifted uneasily. "You'll
beggar yourself."
"Between beggaring myself and beggaring other people, there doesn't
seem to be much choice."
"Do you consider yourself personally responsible for Grove's
actions?" Hale asked earnestly.
"You know what the governor's idea was," Rod answered. "Grove put
this over pretty much on the strength of the family standing. So we
were tacitly involved. We'll be a public stink if we sit back. We
aren't legally responsible; we are morally. That was his idea. I'm
inclined to agree."
"That's drawing it pretty fine," Hale responded. "Grove was his son.
Individually you are not to blame at all. It's easy to make a grand
gesture and go down. Heroic sort of thing. But once you're down
everybody'll walk on you."
"What are you getting at?" Rod demanded impatiently. "Do you want me
to cut and run with the swag--like a burglar? It amounts to pretty
much the same. I keep the estate intact, and these people all lose
their money. I don't quite see why you should try to dissuade me."
Public-domain text, read in full here on John Shaqi.
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