The Hazel Green herald. [volume] (Hazel Green, Wolfe County, Ky.) 1885-19??, 1891-11-06

leisure had made effort difficult. II was
not easy for him to understand why this
was true. Looking back upon the ex-
perience OF idleness he could see moth
ing pleasant in IL, and yet he chung to
A.. An exercise of will was now neces-
sary to accomplish tasks far easier than
the old drudgery which he had per-
formed mechanically. But Ray was
well satisfied with his efforts, and
talked very hopefully Of the future OF the
company.
1--WE are going TO use these motors on
street railways" said he, and I'm re-
volving one or two points in my mind
which must be carefully considered.
Eventually we shall organize a railway
company, and the question Is whether
10 do IL here in New York or strike some
smaller place."
"The streets seem full OF tracks here"
said Russell.
ut isn't tracks," said Ray, ats fran
chises we want to look out for. With
the help OF legislation we can steal a lit
tie piece OF this city, but with an equal
expenditure we can steal whole town
in the West or oven in New Jersey, IL
we can find one there that isn't already
stolen. The question Is: Where's there
tho most money? I'm rather In favor of
q new place that may grow in State
where legislation hasn't so rigid a mar
ket price"
The question was left unsettled for
the timo being, and 1t was decided to
market the motors in another way at
first. Russell gave his attention to the
experimenting the preparation OF the
works, and the construction of as
many machines as were necessary
for purposes OF exhibition. The stock
had been worked up to n salable figure;
indeed, among few who had "the tip"
it was regarded as a good thing. At
Rays suggestion the necessary money
was now raised by the sale OF stock
certificates which were to be put on the
market as tho machines were made
that is, when ten machines had been
built. n hundred shares might be sold
on the treasurer's certification. The
stock was placed on deposit with trust
company, and could be- disposed of only
under the treasurer's authorization.
Meanwhile Russell was getting harder
and harder pressed financially. His
means OF borrowing seemed exhausted,
and his old-time economy had apparently
fed beyond recall. He was involved in a
dozen difficulties, but had hitherto man
aged, on his original plan of borrowing
from Peter to pay Paul, to keep his
credit from utterly falling to pieces.
But the sums necessary were larger now,
and harder to manage. And here temp
tation seized upon him. His power to
authorize the sale of the stock certifi-
Gates and TO receive the money thus real
lied was the bait used by Satan. In
this way he drew his own salary ahead
once or twice but succeeded in keeping
square accounts, But the company had
only a small balance. Ray was occupied
in other schemes just then, and his at
tention was removed from motors tenn
porarily. He thought that for the pres
ent the company (Which meant Russell
OF coursc) should run itself. But Rus
sci found that the sale of the certiti-
Gates, regulated as 1t must be by tho
manufacture of machines, barely suificed
for the necessary expenses. Tho COM
pany was living from hand TO mouth.
That balance which Russell had used as
q loan fund to relieve the eXigencies of
his own position was no longer sufficient.
There had been a delay at the factory;
some mechanical problem had to be
solved, and practically no work was be-
ing done. The salo OF certificates had
been carried to the limit, and the treas
ury was bare. Russell needed thou
sand dollars, and he didn't know where
to get 1t. For long time he held out
against temptations; and then, perceiv-
ing that affairs would soon be straight
ened out and the manufacture of motors
proceed again, he yielded to the pressure
OF immediate need, and authorized an
overissue. That Is, he sold certificates
on machines which had not been built.
This was, in reality, method OF forcing
o loan. IL tho men who bought the GER
tihcates had discovered the state of the
case they would have had no redress
under tho law except by suit against
Russell personally, which, as he had
nothing, would have been useless pro-
II III il 4 g.