The St. Charles herald. [volume] (Hahnville, La.) 1873-1993, 1917-07-28

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process OF extinguishing a corpora
tlon: closing 1t up and burying it IL
another and bigger one, usually. Tina,
IS what we must do with Ttmanyon
Ditch"
I'm getting you, a little at time. ;
said the colonel, taking his first lesson
IN nlgh finance as q duck takes to the
water. Then he added: ut won't take
much Of lick to kill off the old com.
pany, In the shape it's got into now
How will you work it?"
Smith had the plan at his fingers
ends. With the daring Of all the perils
mad come fresh access of fighting
fltness that made him feel as If he
could cope with anything.
I'VE must close I'D the commands
affairs and then reorganize promptly
and, with just as little noise as NAV
De, form another company-which we
VIII call TimanyOni High Line-and
let IL take over the old outfit, stock.
liabilities and assets entire. You sav
your present capital stock Is one hun
dred thousand dollars. This new COM
pany that l am speaking OF will be
capitalized at, say, an even half mil
lion. To the present holders Of Timan
yoni Ditch Wen give the new stock
TOT the old, share for share, with a
bonus Of twenty-five shares Of the new
stock for every twenty-five shares of
the old surrendered and exchanged
This Will be practically giving the pres
ent shareholders two for one. VIII
that satisfy them?"
This time Colonel Dexter Baldwin's
smile was grim.
You're just juggling now, John,
and you know it. Out here on the
woolly edge of things a dollar is lust
n plain iron dollar, and you can't make
1t two merely by calling it So"
Never you mind about that" cut In
the new f1nancier. "At two to one for
the amortization Of the old company |
we shall still have something like |
three hundred thousand dollars treas
ury stock upon which to realize for the
new capital needed, and that will be
amply sufficient to complete the dam
md the bitches and to provide a fight
ing fund. Now then, tell me this: how
near can we come to placing that
treasury stock right here In Timan-
'om Park? It's up to US to keep this
ming In the family, SO to speak: and
ne moment we 60 into other markets
We are getting over into the enemy's
COUNTRY. I'm not saying that the
money couldn't be raised in New
York; but If we should 60 there, the
rust would have an underhold on us,
light from the start
81 see," said the colonel. who was
indeed seeing many things that his
lmple-hearted philosophy had never
reamed of; and then he answered the
irect question. "There is plenty Of
loney right here in the Timanyonis."
Smith nodded. He was getting his
1cond wind now, and the race prom :
ed to be keen JOY.
But they would have to be Shown =
1u think?' he suggested. "All right: :
ell proceed to show them. Now we
IN come down to present necessities. :,
eve got to Keep the work going -
I'D speed 1t up to the limit: we ought -
double Williams force at once-put -
night shift to work by electric -
,ht." ~
t.
The colonel blinked twice and swal- q,
wed hard. =,
Say, john" he said, leaning across V,
e table-desk; you've sure got your of
rye with you. Do you know our b.
esent bank balance is under five in
ousand dollars, and good part Of ar
at Is owing to the cement people ~
Never mind; don't get nervous" tn
IS the reassuring reJoinder. eve are ur
Ing to make it bigger in a few min ST.
IS, 1 hope. Who is your banker do
reY no
Dave Kinzie of the Brewster City
r.,
Tell me little something about mi
. Kinzie before we go down to see an
q; just brief him for me as a man, no
lean" rio
The colonel was shaking his head as
WY. 70,
He's what you might call a twenty ca,
optimist. Dave is; solid, little is
W and sure, but the biggest boomer tai
the West. II you can get him start, pa,