The Monroe journal., 1921-05-13

II Is; tut luckily 7 can build ran
soads as well as operate them; ant
there are other countries besides the
United States of America. I'm on my
way home 10 Illinois for a little visit
with my mother and sisters: and after
ii.at / think ! shall close with an
o.srr I've had from one OF the Ca.
na,lian companies"
Good boy!" chuckled the Chicago
masna,e. In due time we might
hope to be reading your name In the
nexspapers-'Sir Graham Norcross,
D.S.O., or something OF that sort.
Then. with a sharp return to the sort
of gritting seriousness: You've been
riding over the Pioneer Short Line
since early this morning. Graham /:
what d1 you think of it?"
| couldn't see the boss smile. but
could figure ii pretty well when he
said: There may be worse managed.
worse Neglected pieces Of railroad
track In some Of the great transcon-
tnenlal lines, but il there are I
haven't happened to notice them.
! suppose 1t is capitalized to death,
like many OF the others"
Fictitious values doubtless have
something TO do with II at the pres
ent stage Of the game" Mr.. Chad
wick admitted. 1T has always been
a good earning property. being largely.
even yet, without much local com
petition. But from the day IL was
completed its securities have figured
In the market only for their specu-
lative values. The property itself has
never been considered, save as
means 10 an end; the end being to
enable one bunch Of the Wall Street
gamesters you speak of to make a
killing and unload ON another
bunch"
The old story" said Mr.. Norcross.
I'VE are humping over the net re-
suit, right now" Mr.. Chadw k went
on. Pioneer Short Line is practical
ly In the last ditch. The stock has
slumped to forty and worse: Shaffer.
the general manager and the only
able man we have had for years, has
resigned In disgust; and IL something
isn't done tomorrow morning In Portal
City. | know OF at least one minority
st0ckholder who is going TO throw the
whole mess into the courts and try
for receivershlp."
Mr.. Norcross looked up quickly.
Are you the minority stockh0lder,
Uncle John?" he asked, letting him.
self use the name by which Mr.. Chad
wick was best known In the wheat pit.
II am-more's the pity. | had
little lnpse Of sanity one fine morning
few years ago and bought In for an
investment. I've done everything |
could think Of. Graham. to persuade
Breck Dunton and his Wall Street ac-
completes TO spend just one dollar In
ten OF their reorganization and re-
capitalization stealings on the road
itself, but it's no good. Dunton has
been making an inspection trip over
the system with dozen or so OF his
New York crones It's junketing
excursion. pure and simple, but while
they're here they'll get together and
go through the form OF picking out
new general manager. I'm on the
board and they had to send me notice,
though its an even bet they hoped
I'd stay away"
Are you really going to spring the
receivership on the Dunton people to-
morrow"
I'm going to give Dunton hts
chance. He can appoint the man
want appointed as general manager,
with full power to act. and ratify
little plan I've got up my sleeve for
providing bit OF working capital for
the road, or-he can turn me down"
"And II he does turn you DOWN."
'Theu. by George. I'll see II can't
persuade the courts TO put the prop
erty into bankruptcy and install my
mau as receiver"
II don't envy your man his Job.
either way around; not the least little
morsel In the world" said the boss,
quietly. And them "Who Is he,
Uncle Johnr
The wheat king gave great laugh.
Don't tell me YOU haven't guessed