George smiled rather grimly. "Agatha and I were brought up in a shabby
frame house behind a store and learned to think of cents instead of
dollars. Our father made some sacrifice to start us well; I know what it
cost him now."
"Perhaps we had better tell Miss Strange what we have done. When they
have brought us our coffee we'll find a quiet place where we can talk."
Some minutes later they sat down at a small table: behind a pillar in a
spacious room, and Scott took out a bundle of documents.
"This is the first meeting of the _Agatha Mine Company_, and it's proper
that Miss Strange should be our chairman. To begin with, we must appoint
executive officials and the president comes first. I think the place
belongs to Mr. Strange."
"No," said George, "the treasurer's my job. You want a business man to
keep a tight hand on the money."
They looked at Agatha, who made a sign of agreement. "Mr. Scott will be
president."
"Very well. The next is the general manager. Thirlwell's the best man I
know."
"I appointed him some time since," Agatha replied. "It's his post as
long as he likes, and he ought to be paid better than anybody else."
George glanced humorously at Scott. Agatha's manner was imperious and
her voice resolute. It looked is if she meant to use her new authority.
Scott nodded and gave her a document.
"The shareholders may have something to say about these appointments
later. In the meantime, this is a draft of our constitution. I must
state that we could have kept all the profit if we had borrowed the
money we need, but we should have had to pay high interest. On the
whole, it seemed better to float a small company; just large enough, in
fact, to get the protection the law allows a registered joint-stock
body. We find we can get the money easier in this way, and it divides
the risk. You will see that a large block of shares is reserved for
yourself and your brother; I take some in payment for the men and
supplies I am sending Thirlwell; and a number will be allotted at about
ninety, to the people who find the cash."
Agatha studied the document and gave it to George. "What does issuing
the stock at ninety mean?"
"Ninety cents for the dollar's worth of stock," George explained.
"That's a ten per cent. margin when it touches face value and it will
soon go higher."
"I see," said Agatha. "But the mine is ours, and by parting with these
shares we lose control."
"Not altogether," Scott replied. "Every share carries a vote. You and
your brother hold a large block, and the friends I've persuaded to join
us will vote with me. Of course, if anybody bought up the most part of
the other shares, he could give us trouble, but that's not likely. When
it's obvious that we're making a good profit none of the holders will be
willing to sell. In the meantime, some of the people are sending up a
mining expert, and if they're satisfied with his opinion they'll give us
the money."
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