Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1909-12-24

dred eyes, he proceeded to the dining !
room. His butler, Mallock, too, wore
the swallowtail, but it's buttons were
Of gilt.
Newmark seated himself in leather
upholstered mahogany chair before a
small round mahogany table. The
room was Illuminated only by four
wax candles with red shades.
He ate deliberately and with enjoy
ment the meal, exquisitely prepared
and exquisitely presented to him. Aft
erward he returned to the study for his
coffee. He opened drawer in his
desk, extracting therefrom some bank
books and small personal account
books. From these he figured all the
evening. When he had finished his
cold eye exhibited CLEAN of salts
faction He had resolved on a course
of action.
"Orde." said Newmark next morn
Ing as the former entered the office, 81
think l can arrange this matter"
Orde drew up chair.
II talked last evening with man
from Detroit named Thayer. who
thinks he may advance $4,000 on
mortgage on our northern peninsula
stumpage. For that, of course, we will
give the firms note with interest at 10
per cent. will turn this over to you.''
That's began Orde
"Hold on" interrupted Newmark
"As collateral security you will de-
posit for me your stock in the Boom
company. Endorsed in blank. If you
do not pay the full amount of the
firms note to Thayer, then the stock
will be turned in, to me-"
IL see," said Orde.
"Now, don't misunderstood me-"
said Newmark dryly. This is your
own affair, and do not urge it on you.
If we raise as much as $4,000 on that
upper peninsula stumpage 1t will be
all it can stand, for next year we must
make third payment on it. II you
take that money IT is of course proper
that you pay the interest on it. And
If there's any possibility of the fore
closure Of the mortgage it is only right
that you run all the risk Of loss-not
myself"
Certainly" said Orde.
"From another point of view," went
on Newmark, you are practically
mortgaging your interest in the Boom
company for $4,000. That would
make, on the usual basis of mort
gage, your share worth above $780,
600, and 100000 is high valuation
Of our property"
"That looks more than decent on
your part" said Orde.
"Of course it's none of my business
what you intend to do with this
went on Newmarl, "but unless you're
sure you can meet these notes should
strongly advise against It,"
"For how long a time could get
this?" asked Orde at length.
81 couldn't promise it for longer than
five years." replied Newmark.
"That would make about $4,000 a
year and interest. Well, I don't see
why can't carry that easily on our
present showing and prospects"
eff nothing untoward happens" In
sisted Newmark.
"It's not much risk" said Orde hope
fully. There's nothing surer than
lumber. What do our earnings figure
anyway"
Were driving 15O,0O0,O00 at profit
Of about 60 cents thousand. That's
$90,OOO-in five years $450,O0O. W.
ought to clean up So a thousand OF
our mill. That's about hundred thou
sand on what we've got left"
"And that little barge business nets
us about twelve or fifteen thousand {
year."
For the five years about 100000
more. Let's see-thats total Of, say
100000 in five years."
1--WE will have to take up in tina
time," said Newmapk, 'two payment!
on timber, the note ON the First Ma
tional, the Commercial note the liz
: bilities ON the Boom company-$3OO,
GOO all told"
Correct" said Orde. Good enough
ought to get along on margin Xix,
that"
i. LIZ SCI " In 1AC IcSuiSS' ~
eyed doubtfully. Each year he mus
pay In interest the sum Of $7,5Ot
Each year he would have to count OIL
a proportionate saving Of $4,000 to
ward payment Of the notes. In add
ton, he must live.
But Orde was fond of risks.
Never mind. It's for Bobby" sal
he to himself. "And maybe the rat
OF interest will go down. and I'll b
able to borrow on the California trac
II anything does go wrong"
, He stepped across the hail into Tay
lor's Office.
Frank" began Orde Immediately
, II came to see you about that Califol
! MIA timber matter. Now, what wan
is this He proceeded to outline car,
, fully the agreement between himsel
, and Newmark, while the lawyer too
, notes and occasionally interjected
4 question.
| "All right" said the latter when tn
! details had been mastered. I'm dra,
: the necessary notes and papers"
NOW" went on ,Orde, producing th
] bundle Of papers from his poke