Capitalists and financiers -- Fiction; Chicago (Ill.) -- Fiction; Psychological fiction
“It can never be done, Mr. Cowperwood,” he replied, forcefully. “You
are trying to unload too much worthless stock on the company as it is.
The old companies’ stock is selling right now, as you know, for from
one-fifty to two-ten. Your stock is worth nothing. If you are to be
given two or three for one for that, and three-fourths of the remainder
in the treasury, I for one want nothing to do with the deal. You would
be in control of the company, and it will be water-logged, at that.
Talk about getting something for nothing! The best I would suggest to
the stockholders of the old companies would be half and half. And I may
say to you frankly, although you may not believe it, that the old
companies will not join in with you in any scheme that gives you
control. They are too much incensed. Feeling is running too high. It
will mean a long, expensive fight, and they will never compromise. Now,
if you have anything really reasonable to offer I would be glad to hear
it. Otherwise I am afraid these negotiations are not going to come to
anything.”
“Share and share alike, and three-fourths of the remainder,” repeated
Cowperwood, grimly. “I do not want to control. If they want to raise
the money and buy me out on that basis I am willing to sell. I want a
decent return for investments I have made, and I am going to have it. I
cannot speak for the others behind me, but as long as they deal through
me that is what they will expect.”
Mr. Schryhart went angrily away. He was exceedingly wroth. This
proposition as Cowperwood now outlined it was bucaneering at its best.
He proposed for himself to withdraw from the old companies if
necessary, to close out his holdings and let the old companies deal
with Cowperwood as best they could. So long as he had anything to do
with it, Cowperwood should never gain control of the gas situation.
Better to take him at his suggestion, raise the money and buy him out,
even at an exorbitant figure. Then the old gas companies could go along
and do business in their old-fashioned way without being disturbed.
This bucaneer! This upstart! What a shrewd, quick, forceful move he had
made! It irritated Mr. Schryhart greatly.
The end of all this was a compromise in which Cowperwood accepted
one-half of the surplus stock of the new general issue, and two for one
of every share of stock for which his new companies had been organized,
at the same time selling out to the old companies—clearing out
completely. It was a most profitable deal, and he was enabled to
provide handsomely not only for Mr. McKenty and Addison, but for all
the others connected with him. It was a splendid coup, as McKenty and
Addison assured him. Having now done so much, he began to turn his eyes
elsewhere for other fields to conquer.
Public-domain text, read in full here on John Shaqi.
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