The Birmingham age-herald., 1907-11-25
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By Arthur StanW0od Pier
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eiiy tHthS. cnlfn S expression was dlIllosI as listless, and Herrick seemed absorbed in his own thoughts. Only Caspar Dane sat upright-massive, alert and to him Welch mainly addressed his appeal.
 We must consider the lawyer said. whether anything is to be gained by proceeding of utter frankness. Will 1t advantage in any way the interests of our stockholders? l cannot see that it will for the moment we make our announce ment, we reduce the value of their stock to zero. Will 1t be treating them with unfairness if we-if we hold back the information for some days, during which, perhaps, the stock gradually declines? Not at all; rather the reverse. since We shall then besgiving them an opportunity to escape with something less than total loss-if they decide to sell. Have we not a duty to ourselves-provided it does not conflict with our duty to our stockhold- CTS? Are we under any obligation to protect the general public-at our own expense and to our detriment? I should like to hear some discussion of these points. l confess that to me this moral issue seems somewhat complicated It is so easy, in wishing to do the right thing. to do merely the quixotie thing
 Tweed turned in his chair and flung out both arms on the table. Then in terlocking his fingers and presisng them together till the knuckles turned white, he spoke in halting faltering voice. "This-this finds me in pretty bad shape. It's been a poor year in my business-and we've been ruuing behind-nobody knows it-but we've been running behind for three years. And now I thought l saw my chance and I've been buying Valdez-and buy ing it-and buying it-sure my profit would carry me-make up my loss. I've bought it on margins-fTom as low as sixteen-all the way up to forty. And next month my notes come due-and- and-I'm ruined! Not penny in the world!"
 Have, we a duty to ourselves-and to one another?" repeated Welch in low voice.
 'Its hard luck, old man." said Shinn, laying a hand on Tweed's arm. I'm not in as bad a box as you, I guess-but you'll pull through. If I weather this thing mysef-maybe 1 can give you a hand
 Thanks" murmured Tweed. Thanks" His head sank Forward, and he recovered himself with an effort. He rose slowly to his feet "Tll have to leave q few moments. Pm-Fm sick"
 His face was white and he started unsteadily toward the door, Welch rose in front of him.
 Hold on," said Welch. "Youd bet ter go to the window. All you need is q breath of air"
 The old man stopped, met Welch's eyes, and then looked pathetically at Casper Dane, for many years his friend But Dane avoided the appeal. and glancing away struck match and re- lighted his cigar.
 Yes" said Tweed, bitterly. "The win dow will do."
 He turned and walked round the lower end of the table. The window in a recess in a distant corner or the room, was open; Tweed put his elbows on the sill and looked down two stories upon the murmuring traf- fc of the street. Behind him in the room the discussion was resumed, but leaning out, he did not hear Word After a moment he raised his eyes and saw man standing in the window directly opposite and nodding to nm familiarity. Tweed started, and then cunning and wild hope together rush = ed into his eyes. Cautiously he raised the middle and index fingers of his right hand and held them up for the man opposite to see. The man looked nuzzled and with his left hand Tweed pointed to himself. Then the man, with an excited expression, flung out potn hands comprehensively. Tweed still held up two fingers of his right hand and with his left pointed to hlmsel.
 Meanwhile, Welch, sitting at hls uesh' was submitting points for consideration.
 ''Theres one thing,' he said. we dl- rectors are the ones that have done the work in this concern. We've worked faith fully. we've tried to get the best results. for our stockholders. We are in posi- ton to save something from the wreck don't our efforts entitle us to the privi- lege? If we go down with the rest, il won't be doing them any good.
 What would you propose doing? asked Shinn.
 well, that's something to talk about, hut my idea would be this In the first place, for us five directors
 He paused for Tweed had turned and was coming back from the window.
 "Feeling better, old man?' Shinn asked, sympathetically.
 .Yes-yes, a good bit better; I was a little faint for moment, but the Whill of air was all I wanted" Tweed spoke with a nervousness and a half repressed excitement which showed he was at least no longer in danger of collapse. His eyes roved from one to another Of ms asso- ciates with an odd sharpness I'm still
 
 here, have you Welch?'
 "No, but I'll call the boy and send for some" Welch answered.
 "No, no-don't bother: I'd rather you wouldn't" Tweed seemed, by contrast with his former mood of abject depres- sion, fiighty and agitated 'Im all right. live pulled myself together, think
 q can get some whisky as well as not, , said Welch as politely solieitious now as ca1loI1g
 "No, I'd rather not, thank you. Did I miss anything while I was at the win dow? Have you thought of anything to do?"
 ''Welch seems to have an idea" sail Shinn reluctantly His point is that there's no particular good to be done by announcing the facts right off. l guess there's something to be said for that view, too"
 Exactly" cried Tweed with needless eagerness to assent. NO. No good at all"
 MT. Welch," said Caspar Dane. resun- ing control of the meeting. twas about 10 lay plan before us for considera- tion."
 My idea" said Welch. would be sim ply ths-for US five directors to pool our stock Then sell it off gradually, now and then buying some of it back. so as to keep up the price-but always selling more than we buy. Divide the proceeds pro rata-that is, on each sale give each man a share corresponding to his share m the pool"
 The proposal was received in silence.
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