It developed at the meeting that the sole function of a stockholder is
to vote for the Directors of the Company; and, having elected Eells and
Lapham and John C. Calhoun Directors, the stockholders' meeting
adjourned. Reconvening immediately as a, Board of Directors, Judson
Eells was elected President, John C. Calhoun, Vice-President and Phillip
F. Lapham Secretary-treasurer--after which an assessment of ten cents a
share was levied upon all the stock. Exit John C. Calhoun and Wilhelmina
Campbell, stripped of their stock and all faith in mankind. For even if
by some miracle they should raise the necessary sum Judson Eells and
Phillip Lapham would immediately vote a second assessment, and so on,
_ad finitum_. Holding a majority of the stock, Eells could control
the Board of Directors, and through it the policies of the company; and
any assessments which he himself might pay would but be transferred from
one pocket to the other. It was as neat a job of baby-killing as Eells
had ever accomplished, and he slew them both with a smile.
They had conspired in their innocence to gain stock in the company and
to hawk it about the streets; but neither had thought to suggest the
customary Article: "The stock of said company shall be non-assessable."
The Articles of Incorporation had been drawn up by Phillip F. Lapham;
and yet, after all his hard experiences, Wunpost was so awed by the
legal procedure that he forgot all about the fine print. Not that it
made any difference, they would have trimmed him anyway, but it was
three times in the very same place! He cursed himself out loud for an
ignorant baboon and left Wilhelmina in tears.
She had come down with her mother, her father being busy, and they had
planned to take in the town; but after this final misfortune Wilhelmina
lost all interest in the busy marts of trade. What to her were clothes
and shoes when she had no money to buy them--and when overdressed women,
none too chaste in their demeanor, stared after her in boorish
amusement? Blackwater had become a great city, but it was not for
her--the empty honor of having the Willie Meena named after her was all
she had won from her mine. John C. Calhoun had been right when he warned
her, long before, that the mining game was more like a dog fight than it
was like a Sunday school picnic; and yet--well, some people made money
at it. Perhaps they were better at reading the fine print, and not so
precipitate about signing Articles of Incorporation, but as far as she
was concerned Wilhelmina made a vow never to trust a lawyer again.
Public-domain text, read in full here on John Shaqi.
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