The Meridian times. (Meridian, Idaho) 1909-1938, 1911-06-23

| n4ol ming. IL would have been
simple thing to have drawn his nor
sonal check for the few thousands
heeded and forwarded this with bio
application for the box to the man.
agement which weighs apDIicationo CO
scrupulously. ~
Ihere were two objections how.
ever, to this course The first tba+
president Wells ever made haste slow.
~ and the second, that Mr.. Wells
mad an inVariable rule that current
expenses should be met from current
lncome-not from reserves. And as
Mrs. Wells had said, an onera hoy
might well be reckoned as a matter
OF current expense.
In the foyer of the Lawyers club.
"here he always took his noon lunch
Mr.. Wells met Ledyard Newton and
John r. Austin, fellow directors with
MIN on several boards, and the three
men sought a table that thew might
lunch together. Austin was the senior
member of a firm Of big corporation
lawyers and counsel to many rail-
roads, including the Colorado Central
or which Newton, who was a man of
wealth, performed the official func.
lions Of vice president from the pleas.
ant distance separating New York from
Denver. The three men were among
! the heaviest stockholders of the road.
and all were on the board of directors,
From the market and its aimless
gyrations the talk turned at last to the
various properties in which all were
interested.
How is Colorado Central coming
on?" Austin asked of Newton. 81
haven't heard much of it of late"
you keep your eye on our little
Central, Austin" said Newton, who
was a crisp little man, fond of the
good things in life. You might have
to pay pretty penny to get it back"
Mr.. Wells, whose attention up to
this time had been about equally di.
v1ded between the conversation and
the opera box, sat up.
Finding nuggets mixed in with the
ballast along the line?" Austin de-
manded, laughing.
mot yet. That'll come later" re-
torted Newton, cheerfully. TOO busy
catching up to our traffic now to stop
for gold"
Traffic got long start on you, I
suppose" said Austin. IT wish you'd
catch 1t or run over 1t. I'd get either
iuid do laval Eco.
You'll get the dividends first"
THAT doesn't sound speculative"
Mr. Wells interrupted the banter.
isn't that like Wells, now" asked
Newton, nodding to Austin. "No
speculation for him or the Twelfth Ma
tional. But, really" he added, I'm
serious In all this. Here, III send
over to my Office for the estimate of
earnings they've just sent on from
Denver"
cts just as I told you about the
traffic" Newton went on, as the three
lighted their cigars and settled back
to await the messengers return. 1.-TWO
big smelters have just been put in OPP
Grafton on the Midvale branch; our
extension to the Central Steel Com
pany's plant is returning US our share
of business, and, best of all, the new
link of the Western Colorado-lt
meets us at Silver City-is turning
over a big volume of paying traffic.
If our operating men can hold down
expenses according to estimate we
ought to declare a two per cent. diyi-
dend at the meeting next month. 1t
will be the first, but 1t oughtnt to be
the last, with our small capitalization
of S20.0O0,000 A two per cent. diVi-
dend will call for only 100000, and
the net earnings for the last three
months and estimates for this and
next month run away over that. Here
are the estimates. You can see for
yourselves" Newton took the papers
from the messenger and passed them
to Mr.. Wells and Austin.
The three men scanned the figures
for some minutes. Mr.. Wells found
the stub of a pencil in a pocket and
covered the menu card with tumble
of chickering's. They probably con-
formed to his formulate, for he smiled
softly. He passed the menu card TO
Austin.
What do you think of that" he
asked. /
The lawyer glanced at the last
characters on the card.
why, '40--15 on , per cent. div
he read aloud, slowly. All. l see.
Colorado's at 40 now. You think it |
ought to go up fifteen points on the
DIVIDEND" Il
and some judicious assistance,
added Mr.. Wells. 1T would be justi-
fed in this instance, since there are
really to be dividends"
"And the assistance to come from
little pool of three, eh?" commented
Newton nudglng Mr.. Wells gently
But it's justifabIe in this instance
and it's not a speculation"
"Eh. what's this" added Newton
who had picked up the menu card.
you overlooked Austin.
OPERA B-O-X-$25,OOo; opera
box"