Essex County herald. [volume] (Guildhall, Vt.) 1873-1964, 1917-08-31

planned. "In modern business it Is the
process of extinguishing a corpora
ton: closing 1t up and burying it in
another and bigger one, usually. That
Is what we must do with Timanyoni
Ditch"
I'm getting you, little at time"
said the colonel, taking, his first lesson
In high finance as duck takes to the
water. Then he added: SIT 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
had come a fresh access Of fighting
fitness that made him feel as if he
could cope with anything.
"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 TimanyOni High Line-and
let 1t take over the old outfit, stock,
liabilities and assets entire. You say
your present capital stock is one hun
dred thousand dollars. This new COM
pany that I am speaking Of will be
capitalized at, say, an even half mill
lion. To the present holders Of Timan-
yoni Ditch We'll give the new stock
for the old, share for share, with
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 1t. 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 it So"
"Never you mind about that" cut in
the new financier. "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
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-
yoni Park? 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 Timanyonis. J"
Smith nodded. He was getting his
second wind now, and the race prom
ised to be keen joy.
"But they would have to be shown,
you think?" 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 t.up to the limit: we ought
to double Williams force at once-put
on night shift to work by electric
light"
The colonel bllnked twice and swal-
lowed hard.
"Say, john" he said, leaning across
the table-desk; you've sure got your
nerve with you. Do you know our
present bank balance is under five
thousand dollars, and good part of
that is owing to the cement people ~
"Never mind; don't get nervous"
was the reassuring rejoinder. ave are
going to make it bigger in few min
utes, hope. Who is your banker
here?"
'Dave Kinzle of the Brewster City
National"
"Tell me little something about
Mr.. Kinzie before we go down to see
him; just brief him for me as a man,
mean"
The colonel was shaking his head
slowly.
Hes what you might call twenty
ton optimlst, Dave is; solid, little
slow and sure, but the biggest boomer
in the West, IL you can get him start