The Ely miner. [volume] (Ely, Minn.) 1895-1986, 1917-09-07
YHEN the president of the Atlas
No+;opol hanl- Sapt for PaS;liuc

Protective association with its active
head in my company was, quite nat
urally, being the private secretary of
the one and the closest friend of the
other, motioned to remain. 1 sank into
one of the sumptuOus easy chairs which
crowded the inner sanctum of the
great king of finance, Mr.. Robert
Drew, feeling sure that 1 was about to
listen to something new and impor.
tant.
Resilius Marvel looked easy-minded
and receptive. / fancied detected a
very slight smile pass over his face
as his eye fell upon heap of bonds
outspread and held down by a paper
weight on the desk directly before Mr.
Drew. The serious, somewhat irritat-
ed face of the bank president indicated
that he was i'll at ease mentally, that
he had sent for Marvel much as might
man who had bungled over mending
bruised finger and had been com
PEELED to call in skilled surgical aid.
He tried to be off-handed as he select
ed one of the bonds and passed 1t
over for the inspection Of the man
whom / had seen do so many clever
things, whom had come to recognize
as the grand postmaster of foresight
and efficiency in the bank mysteries
line.
What do you know about these
bonds, Mr.. MARVEL" was the question
put.
Everything" was the prompt reply,
so speedily given that its enunciation
and bare careless glance at the
broad black letters, 'Jebel River &
Great Jangeh Railroad Co., were ST.
multaneous.
That is good" said the president,
quite gratefully, clearing his throat and
looking hopeful This is a special
matter, you understand, and confiden-
tial. l shall be sorry or glad that the
bank holds over 100000 of those Sc
curities after l have heard what you
have to say"
You will be sorry" bluntly replied
Marvel. 1.-The whole proposition Is a
dream, perhaps fraud. The securi-
ties are waste paper, unless"
"Yes-unless?" pressed Mr.. Drew
eagerly, almost piteously, with face
grown many shades paler.
Unless / am able to locate the
man who signs them as president of
the road-his royal highness of jan
geh."
was struck with the extraordinary
words. Marvel had placed the bond
on the desk. 1t was within my reach,
and as unobtrusively as l could drew
II towards me. Several Of the bonds
of this issue had passed under my eye
casually in the regular course of bust
ness of the bank during the past two
months, but had never scanned them
particularly. Now l read the sigma
lures: "Zwun Zhi, King of Jangeh,
President; Napoleon Lucroix, Imperial
Treasurer Secretary"
Half of these bonds spoke Mr.
Drew, placing an unsteady hand on the
heap, ARE collateraled. Over 5000,
900, however, represent direct pur-
chase of the bank"
AT what price?" inquired Marvel.
From IS to 92."
And they dropped Is points this
morning" recounted my well-posted
friend. They will go down to 40 to-
day before the Stock Exchange
Closes
l caught convulsive click in Mr..
Drew's throat. His fingers were beat
ing a rapid tattoo on the crisp, gaudy
securities. The sound appealed to me
like the ominous swish of dry leaves
in harvest time, preceding a storm.
You see," he managed to speak,
there seemed no doubt of the secur-
ity. While Jangeh is barbaric king
dom, it's resources are tremendous;
ivory, gold, diamonds and immense
droves of cattle. All the country
lacks is some thoroughfare to the
coast The idea was to build line
out from Uganda on the Victoria Ny
ANA, large inland lake, beyond An
sora to the Jebel river. The ma.
:;ves could then float their cattle and
other products down the stream,
transfer to the Coast road, and reach
Zanzibar through German East Africa.
1t looked as favorable as the Cecil
Rhodes development schemes or the
recent Soudan explorations"
Yes, so the prospectus said,' nod
ded Marvel dryly.
THE deed of trust" went on Mr..
Drew in almost feverish haste and
with shade of pleading JUNCTION in
his tone, covers nearly 100000 acres
of land, two palaces, fifteen native
cities, half a dozen gold mines-alto-
gether valued at some fifty millions of
dollars. The bond issue is a bare mil
lion. Another point: Ralston & Co.,
bankers, have the construction con-
tract, and guarantee the payment of
interest and principal on these bonds
Again the prospectus-you have a
good memory, Mr. Drew" said Marvel
quietly
why, see here" resumed the bank
president, more like a man defending
client than asking for information,
look at this
Very animatedly he drew over to
him the big rating book His nervous
fingers fumbled the leaves and then
ran over the initial index. Here it is:
Ralston & Co., GAA, a million and
over, the highest capital and credit
rating possible. l cannot understand
the furry in those bonds. Ralston &
Co. stand behind the proposition on a
strong guarantee"
He looked at Marvel in some de-
fiance. The latter took the challenge
mildly. His hand went into an inner
pocket and drew forth slip of tissue
paper. He passed this to the bank
president.