The Lamar register., 1919-01-22

| AoOn new -
planned. 'In modern business 1t Is the
process Of extinguishing corpora
tiOn: closing It up and burylng II In
another and bigger one. usually. That
is what we must do with Timanyoni
Ditch"
"Pm getting you, a little at time"
said the colonel, taking his first lesson
In high finance as u duck takes 10 the
water. Then he added: at won't take
much of lick to kill on the old com
pany. In the shape It's got into now.
How will you work itf'
Smith had the plan at his fingers
ends. With the daring OF all the perlls
had come u 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 reorganlze promptly
and, with Just as little noise as may
be, form another company-which we
will call Tirnsnyonl 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 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. win
that satisfy themT
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
plain iron dollar. and you can't make
1t two merely by calling II 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 VIII he
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
simple-hearted philosophy had never
lreamed of; and then he answered the
direct question. There is plenty Of
money right here In the TimanyonIs."
Smith nodded. He was getting his
second wind now. and the race prom.
sed to be a keen Joy.
But they would have to be shown
you thinkf" he suggested. "All right;
Se'll proceed to show them. Now We
an come down to present necessities.
We've got TO keep the work going
and speed It up to the limit: we ought
20 double Williams force at once-put
'h 81 ~ Wotk thNtat'
light"
The colonel blinked twice and swsl-
owed hard.
Say. John" he said, leaning across
he table-desk; you've sure got your
nerve with you. Do you know our
present bank balance Is under five
thousand dollars. and a good part Of
hat Is owing to the cement people"
"Neyer mind; don't get nervous"
VAS the reassnrlng re1oinder. I'VE are
going to make It bigger In a few min
ties. I hope. Who is your banker
ieref'
Dave Kinzie OF the Brewster City
National"
Tell NE little something about
Mr.. Kinzie before we 60 down to see
him; just brief him for me as q man,
l mean"
The colonel was shaking his head
slowly.
Hes what you might call a twenty
ton optimlst, Dave is; solid. little
slow and sure. but the biggest boomer
In the West, II you can get him start
ed-believes In the resources Of the
country and all that. But you can't
borrow money from him without secur-
ity. II that's what you're aiming to do"
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