Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1905-07-25

as director, Mr.. Cornelius Croydon had
been talking Confederated Machine
shares to his customers with his usual
volubility and skill. Not that he made
any very positive statements, or en-
tered upon any very definite details.
Indeed Mr.. Croyden seldom said any
thing that he did not adroitly unsay
in half an hours talk. With the rapid
movements OF a lightning calculator
he chalked up his amazing arithmetic,
and passed a sponge over his nalf-
made figures with breathless Babel
OF talk. But there was fiattery In the
Junior partners confidential tone and
a fascination about his glib rattle OF
figures which sold many a share OF
the Confederated Companies at a hand
some premium. Kennard, passing
through the customers room one day.
overheard part of prophecy as to the
company's future which amazed him.
and he took occasion later to ask the
optimist upon what he based his CAL
culations. The inquiry was put good
naturedly. hut Croydon turned on his
auestioner like a flash.
Aren't YOU satisfied with running
the company. Kennard," he snapped,
"or do you want to control my opin-
ions too?"
Kennard turned away with a laugh.
Everybody has touchy moments, and
presumably he had happened on one
of Croyden's. That was all he thought
of the matter. A few days later the
incident acquired more meaning.
At the very next meeting Of the d.
rectors Mr.. Croydon disclosed to his
new associates the result of some pri-
vate investigations he had undertaken
on behalf of the corporation. The
books showed. he reported, that there
were on the pension list Of the Asso-
ciated companies some 80 persons to
whom there was annually paid in the
aggregate nearly $4,000. None Of
these persons fulfilled any useful or
necessary function 10 the company;
none Of them had, as far as he was ad-
vised, any legal claim upon the cor
poration. He therefore moved that
all pensions not expressly authorized
by the board be discontinued forth
with.
For a few moments after Croydon
resumed his seat, no one spoke. Ken
nard in the chair deliberately turned
away, and looked out Of the window
as the only possible comment on such
a proposition. Mr.. Harlan's voice
seconding the motion brought him
back to gaze with establishment at the
speaker's face. Was this the same
man who, only a short time ago, had
moved the vote of thanks and been
his gracious host, and whose daugh-
ter Kennard's eyes were flashing, and
his voice had note Of contempt in II
as he inquired whether any one wished
10 debate the motion. For an instant
he forgot he was no longer in power.
But the faces at the opposite side OF
the table speedily disillusioned him.
With helpless lage he realized that
this monstrous thing had been all ar
ranged beforehand. He could read II
in Croyden's barely perceptible smile,
in Trundell's hard mouth, in Harlan's
shifting glance, in Harkness' nervous
fingers, in the stolid indifference or
the financial fgureheads. But 1t was
Rogers who brought him to the full
realization of what was happening. To
hear Daniel Rogers-honest, blunt old
Rogers-stooping to ask for delay In
stead of instantly denouncing the
proposition in unmeasured terms, re-
vealed the desperate nature OF the
situation.
Dave Maddox leaned forward and
whispered few rapid words in Ken
nard's ear, to which he listened with
out turning his head. Then he sud-
denly swung around and nodded an
understanding AS Rogers ceased
speaking. Maddox began an attack
against the proposed measure from It's
legal aspect. He pointed out the LA
bility to which any such action would
subject the company. and hinted. for
Harkness' benefit, at the possible risk
to those stockholders whose individual
responsibilities might be revived II
the amalgamateG company could no:
be held for damages. The board which
reused sleeping dogs would scarcely
commend itself to those subjected to
attack.
81 see," interrupted Mr.. Trundell.
"Some Of you gentlemen desire to be
philanthropists if II doesn't cost any
thing. That's natural. But l don't
propose that you do it at my expense"
Maddox continued without noticing
the laugh which greeted this Interrupt
tion. AS a matter of law, he argued,
the pensions were probably contracts
which the company could not throw
over at its pleasure. Anyway the
proposition required careful consider
alton and investigation. II was alb
surd to be penny-wiSe and pound-tool-
ish, and to push through an apparent
economy which might prove no econ
omy at all. He argued the matter al
length. coolly and dispassionately. not
touching on the moral or ethical as
poets of the case. but devoting him.
self to a logical review Of the business
issues involved. and ended by second
ing Mr.. Rogers motion for an adjourn
ment. Neither Trundell nor his party
vouchsafed any reply, and the vote on
adjournment was taken In silence. II
was lost, seven to six. Then Croydon
moved the previous question. Maddox
whispered to Spsulding, who sat be-
side him. and the latter addressed the
meeting.
What was the real meaning OF THIS
motion? he asked angrily. Were the
gentlemen who favored 1t blind tc
the fact that 1t involved the honor ol
every manufacturer whose plant
formed part of the CCnfedcrated com
pany? Surely no one present sup
posed for a moment. that men who
had pensioners on their lists would
assent to any action which would throw
helpless cripples Upon the world. and
rob them of money which was theirs
by a higher right than law, simply tc
fatten the stockholders. What were