Cleveland County herald., 1920-07-29


 thoughtfully. "The poor Scotch suck. er!'
 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 he desires to sell it at profit In | order to create a market for it, how | ever, he has to have an outlet to that market. We supply the outlet-with his help; and what happens? Why, timber that cost him fifty and seventy five cents per thousand feet stumpage and the actual timber will overrun the cruisers estimate every time-will be worth two dollars and fifty cents perhaps more.
 "He loans us the money to build our road. We build it-on through our timber and into his. The. coliat eral security which we put up will be a tWenty-fye-year contract to haul his logs to tidewater on Humboldt bay, at a base freight rate of one dol lar and fifty cents, with an increase of twenty-five cents per thousand every five years thereafter, and an op tion for renewal of the contract upon expiration, at the rate of freight last paid. In addition we sell him, at reasonable figure, sufficient land fronting on tidewater to enable him to erect sawmill, lay out his yards, and build dock out into the deep water.
 ''Thus Gregory will have that which he hasn't got now-an outlet to his market by water; and when the rail road to SeGuoia builds in from the south, 1t will connect with the road which we have built from Sequoia up into Township nine to the north; hence Gregory will also have an out let to his market by rail. He can easily get a good manager to run his lumber business until he finds GUS toner for it. and in the meantime we will be charging his account with our freight bills against him and gradual ly pay off the loan without pinching ourselves"
 John Cardigan's old hand came grop- ingly forth and rested affectionately upon his boys. You forget, my son, | that we cannot last In business long enough to get that road built, even 1 though Gregory should agree to finance the building of it. The inter- est on our bonded indebtedness is payable on the first"
 eve can meet it, sir"
 Aye, but we can't meet the fifty thousand dollars which, under the terms of our deed of trust, we are re- quired to pay in on July first of each year as a sticking fund toward the re- tirenlent of our bonds. Bryce, it just can't be done We'd have our road about half completed when we'd bust up in business; indeed, the minute Pennington suspected we were paral- leling his line, he'd choke off our wind. I tell you it can't be done.'
 But Bryce contradicted him earn estly. Ut can be done," he said. "If we can start building our road and have it half completed before Pen nington jumps on us, Gregory will simply have to come to our aid in self defense. Once he ties up with us, he's committed to the task of seeing us through. I can do it, I tell you"
 John Cardigan raised his hand. "No,'' he said firmly, q will not allow you to do this. That way-that is the Pennington method If we fall, my son, We pass out like gentlemen. not blackguards We will not take advan- tage of this man Gregory's faith. If he joins forces with us, we lay our hand on the table and let him look"
 ''Then he'll never join hands with us, partner We're done"
 "We're not done, my son. We have one alternative, and I'm going to take it. I've got to-for your sake. More over, your mother would have wished it so."
 You don't mean"
 "Yes, I do. I'm going to sell Pen nington my Valley of the Giants. It Is my personal property, and it is not mortgaged. Pennington can never foreclose on it-and until he gets 1t, twenty-five hundred acres of virgin timber on SGuaw creek are valueless- nay, a source of expense to him. Bryce, he has to have it; and he'll pay the price, when he knows I mean business" With a sweeping gesture he waved | aside the arguments that rose to his | sons lips. lead me to the telephone" he commanded; and Bryce, recogniz- 1 ing his sire's unalterabe detcrmina ton. obeyed.
 "Find Pennington's number in the | telephone book" John Cardigan com manded next.
 Bryce found it. and his father pro- ceedetl to get the Colonel on r.e wire. | Pennington" he said hoarseiy, this | is john Cardigan speaking. Eve de l cided to sell you that quarter-section that blocks your timber on S1uaw 1 creek"
 Indeed" the Colonel purred. "l