The Ely miner. [volume] (Ely, Minn.) 1895-1986, 1920-09-24
whats in the wind, boy?"

were going to parallel Penning
tons logging-road."
i "Inasmuch as that will cost close t.
three-uuarterS of million dollars. Tn
of the opinion that we're not going t.
do anything of the sort"
perhaps. Nevertheless, If / car
demonstrate to certain party that il
will not cost more than three-quarters
of million, he'll loan me the money!
The old man shook his head. 81
don't believe it, Bryce. Who's the
crazy MANI"
"His name is Gregory. He's Scotch
"Now 1 know he's crazy When he
hands you the money, you'll find he's
talking real money but thinking OF
Confederate greenbacks."
Bryce laughed. "Pal," he declared
eff you and / have any brains, they
must roll around in our skulls like
buckshot in tin pan. Listen, now.
with all your ears. When Bill Hen
| derson wanted to build the logging
railroad which he afterward sold to
PenningtoS, and which Pennington is
now using as club to beat our brains
out, did he have the money to build
it?"
mo. / loaned it to him."
"How did he pay you back"
'Why, he gave me ten-year con-
tract for hauling our logs at dollar
and a half thousand feet, and
merely credited his account with the
amount of the freight bills he sent me
until he'd squared up the loan, prin-
cipal and interest"
"WeIl, If Bill Henderson financed
himself on that plan, why didn't we
think OF using the same time-honored
plan for financing a. road to parallel
Pennington's?
John Cardigan sat up with a jerk
''By thunder!" he murmured. That
was as close as he ever came to utter
ing an oath.
"All right, John Cardigan. forgive
you. Now, then, continue to listen:
To the north of that great block of
timber held by you and Pennington lie
the redwood holdings of the Trinidad
heuWOOu fIliuDeT COllpduy.
Never heard of them before"
swell, timber away in there in back
of beyond has never been well adver-
tised, because it is regarded as prac-
tically inaccessible. You will remem-
Der that some ten years ago COM
pany was Incorporated with the idea
of building a railroad from Grants
Pass, Ore, on the line of the Southern
Pacific, down the Oregon and Califor-
MIA coast to tap the redwood belt"
81 remember. There was a big
whoop and hurrah and then the propo-
sltion died abornin'. The engineers
found that the cost of construction
through that mountainous country
was prohibitive.'
SWELL before the project died.
Gregory and his associates believed
that IL was going to survive. They
quietly gathered together thirty thou
sand acros of good stuff and then sat
down to wait for the railroad. And
they are still waiting. Gregory, by the
way, is the president of the Trinidad
Redwood Timber company. He's an
Edinburgh man, and the fly American
promoters got him to put up the price
of the timber and then mortgaged
their interests to him as security for
the advance. He foreclosed on their
notes five years ago."
"And there he Is with his useless
timberw John Cardigan murmured
thoughtfully. "The poor Scotch suck.
erw
HE isn't poor. The purchase Of
that timber didn't even dent his bank
roll. But he would like to sell his
timber, and being Scotch. naturally
lie desires to sell 1t at a profit. In
order to create market for it, how
ever, he has to have an outlet to that
market. We supply the outlet-with