The Kendrick gazette. [volume] (Kendrick, Idaho) 1892-1968, 1910-04-29
per cent. l will turn this over to you"
'That'S"- began Orde


Hold on interrupted Newmark
las 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-"
II 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 AHNinsula stumpage it will be
all it can stand. for next year we must
make Il third payment on it. If 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 a mort
gage. your share worth above $780,
900, and 100000 is a high valuation
Of our property"
your part" said Orde.
'Of course it's none of my business
what you intend to do with this
went on Newmark, "but unless you're
sure you can meet these notes should
strongly advise against it,"
"For how long a time could l get
this?" asked Orde at length.
Il couldn't promise it for longer than
five years." replied Newmark.
THAT would make about $4,000 a
year and interest. Well, l don't see
why can't carry that easily on our
present showing and prospects,
IF nothing untoward happens" in
sisted Newmark.
ITS not much risk" said Orde hope
fully. There's nothing surer thar
lumber. What do our earnings figure
anyway"
Were driving 15O,OO0O00 at profit
of about 60 cents a thousand. That's
$90,0OO-in five years $450.OO0. We
ought to clean up So a thousand on
our mill. That's about a hundred thou
sand on what we've got left"
And that little barge business nets
us about twelve or fifteen thousand d
year"
For the five years about 100000
more. Let's see-that's total of, say
100000 in five years."
I'VE will have to take up in that
time" said Newmark. two payments
on timber. the note on the First Ma
tiSHal. the Commercial note. the liza
bilities Oh the Boom company-S3OO..
900 all told"
Correct" said Orde. Good enough
l ought to get along on a margin like
that"
He set to figuring. The results he
eyed doubtfully. Each year he must
pay in interest the sum of $500
Each year be would have to count on
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" said
lie 10 ullllSeil. Anu IlluNDe lDe tn 1t
of interest Will go down. and I'll be
able to borrow on the California tract
If anything does go wrong"
He stepped across the hall into Tay
lor's Office.
Frank" began Orde immediately
II came to see you about that Caifor
MIA timber matter. Now. what | want
is this He proceeded to outline care
fully the agreement between himselt
and Newmark. while the lawyer tool
notes and occasionally interjected :
question.
"All right" said the latter when thu
details had been mastered. IN draw
the necessary notes and papers"
| "Now," went on Orde. producing thu
| bundle of papers from his pocket
"here's the abstract of title. wisl
| you'd look it over. It's long one
! but not complicated. as near as l Cal
make out. Trace seems to have &C
| CURED this tract mostly from the orig
inal homesteaders and the like. who
! 81,