Memory's Storehouse Unlocked, True Stories: Pioneer Days In Wetmore and Northeast Kansas
John Locke · en
Not that I had any apologies to make for our mine promotion. We had used
their money, as promised, in the development of the mine, and at this
time were still putting our own money into it—and we had no intention
of going out and selling a block of stock to rub out the deficit. That
would have been illegal in Nevada. But the fact remained that we had not
as yet been able to make any returns to stockholders.
When I called on the secretary of the oil company, he said he could not
give me any time that afternoon, that he had to perform an operation
at the hospital at 4 o’clock. I said to him, in the presence of the
president, “You fellows seem to be scared about something—but you need
not be. I give you my word that I am not here to make trouble. All I
want to know is what chance you have to make good, and if it will be
to our interests for me to vote my proxies for the increase of capital
stock at the meeting Monday.” The secretary looked at the president, and
the president looked at the secretary—then they both looked at me. The
president nodded—and the secretary said, “Come along with me.”
It seems the directors had carried on with the drilling after company
funds were exhausted, incurring personal obligations, and stopped the
drill when approximating the required depth for a strike, with a large
deficit—which, with our contribution, was now reduced to something like
$9,000. While in the office of the physician-surgeon-secretary going
over the books, the banker—of German extraction, if not the whole
thing—came in, and nodding toward a back room, said as if in great
distress, “Dokther—I’ve got a stick in the eye.”
I decided that I ought not vote for the increase of stock—and, without
leave, came home on Sunday. One of our group, an ex-businessman,
attended the meeting on his own hook to get first hand knowledge of
the situation. He wired Joe Searles Monday afternoon, saying, “Bristow
absent; could I vote the proxies?” I told Joe to wire him, “Yes—if
you have them.” I had just turned them in to Joe. In a couple of days
Searles got a long letter from him—written by a stenographer in
Kansas City—berating me for running out on them, and boasting of the
business-like interest he himself had taken in the meeting, saying, “I
stayed with them until we got in proxies enough the next day to get
the money—and I bought $250 worth more of the stock.” He did not
say—probably didn’t know—if his purchase was of the newly voted stock,
or from the old issue. I had a strong suspicion that we had all ready
bought and paid for a generous take of the newly voted stock—and got
short changed as well.