Western liberal. (Lordsburg, N.M.) 1887-1919, 1917-12-28

planned. 'In modern business It is the
process Of extinguishlng a corpora
ZION: closing II up and burying It in
another and bigger one, usually. That
Is what we must do with TlmanyOni
Ditch"
I'm getting you, a little at a time
said the colonel, taking his first lesson
in high finance as a duck takes to the
water. Then he added: "It won't take
much Of a 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 perlls
had come a fresh access Of fighting
fitness that made him feel as II he
could cope with anything.
1--WE must close up the company's
affairs and then reorganize promptly
and, with just as little noise as may
be, form another cOmpany-which we
will call Timanyonl High Line-and
let 1t take over the old outfit, stock,
liabilities and assets entire. You say
your present capital stock is n 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
for 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 them7"
This time Colonel Dexter Baldwin'a
smile was grim.
you're just juggling now, John,
and you know II. Out here on the
wOolly edge Of things a dollar is just
a plain iron dollar, and you can't make
It two merely by calling 1t So"
"Never you mind about that" cut in
the new inancier. "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
uAAlAy ouAAAIANul W COllDAGNG TIC uuAl
and 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.
yOnl Park7 It's up to US to keep this
thing in the family, so to speak and
the moment we go 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 II we should go there, the
trust would have an underhold on us
right from the start"
81 see," said the colonel, who was
Indeed seeing many things that his
Supplemented philosophy had never
dreamed Of; and then he answered the
direct question. "There is plenty Of
money right here In the Timanyonls.'
Smith nodded. He was getting his
second wind now, and the race prom
lsed to be a keen Joy.
"But they would have to be shown,
you thlnk2" he suggested. "All right
we'll proceed to show them. Now we
can come down TO present necessities
We've got to keep the work going
and speed It up to the limit we oughi
to double Williams force at once-puI
on a night shift to work by electric
light"
The colonel bllnked twice and swal
lowed hard.
"Say, John" he said. leaning across
the t~able-desk: you've sure got you
nerve with you. Do you know oul
present bank balance is under i've
thousand dollars, and a good part o.
that is owing to the cement people T.
"Never mind; don't get nervous,
was the r%eassurlng rejolnder. "We are
going to make 1t bigger In a few min
utes. 1 hope. Who is your banker
hereT'
Dave Kinzie Of the Brewster Citl
National"
'Tell me a little something RbOu.
Mr.. Klnzie before we go down to sex
him just brief him for me as a man
1 mean"
The colonel was shaking his heaC
slowly.
"He's what you might call a twenty
ton optimist, Dave Is; solid, a uttl'
slow and sure. but the biggest bOOmeI
in the West, II you can get him start