Part 51 (2/2)

In spite of himself Peter was impressed. The fact that his struggle against odds had been recognized by this man and acknowledged was a very flattering one. Slowly he relaxed in his seat, a broad smile coming to his face. ”Very kind of you to tell me this, Mr. Danvere,” he said modestly.

Mr. Danvere held up a protesting hand. ”It's nothing of the sort, Mr. Kessler. You have my respect sir, no matter what decision you make in this matter.”

Peter nodded in a pleased manner. ”I will give serious thought to your kind offer, Mr. Danvere, but there is one important fact I would like to know beforehand.”

”What is that, Mr. Kessler?”

”You may not know of this, but I would like you to know that the last several years have been difficult ones for Magnum. Its losses since '29 have been in excess of ten million dollars.”

Danvere nodded thoughtfully. ”I was aware of that, Mr. Kessler, but I appreciate your honesty in calling it to my attention. However, I believe some of those losses were inevitable, due to your rather difficult position in relation to the rest of the industry-those vested interests we have mentioned. I believe, however, that I have a plan which would materially aid Magnum in its struggle for finances.”

Peter raised an eyebrow. He had already developed a high regard for this man's opinions. The entire conversation had convinced him that Danvere was a very solid, conservative businessman. ”What is that?” he asked.

Mr. Danvere crossed his legs comfortably. ”My idea is basically a very simple one. I will purchase twenty-five percent of the present company's stock from you. We will then dissolve the present company and reorganize a new one with the stock issued to the present holders on a pari pa.s.su basis; that is, sixty-five percent to you, twenty-five percent to me, and ten percent to Mr. Edge. In order to gain public and industry-wide acceptance and confidence in the new company I would then suggest that you place twenty percent of the stock on the public market. This would leave you with a forty-five-percent interest, which would still ensure you a satisfactory controlling interest in the company.” He paused for a moment to observe the reaction on Peter's face. It was calm and interested. Mr. Danvere continued: ”The public sale of those shares should bring you approximately four hundred thousand pounds. That plus what you receive from me would come to a total of nine hundred thousand pounds, or about four and a half million dollars in your currency. Then the Martin Theaters Circuit would advance to Magnum on account of advance film rentals four hundred thousand pounds, and you concurrently would lend Magnum the same amount. This would provide Magnum with approximately four million dollars of working capital, which would be sufficient to guarantee its production program. It is also possible that, with the announcement of the new a.s.sociation with the Martin Theaters, Magnum's credit position will be improved materially and additional financing could be acquired if so needed.”

Peter sat there quietly. If the same type of offer had come from a Wall Street financier he would have rejected it peremptorily. But this man was not a Wall Street financier. He was merely a simple textile merchant by his own admission. His family had made their fortune in much the same manner that he had, by fighting the bigger companies and their financial connections. Besides, he was in London, a long way from Wall Street, and the proposition he had just heard was a very attractive one. It would restore his personal fortune as well as place the business on an even keel.

He got out of his seat, walked around the desk, and stood in front of the chair in which Mr. Danvere was seated. He looked down at him seriously. ”Of course I will have to discuss the matter with my a.s.sociate, Mr. Edge, before I could give you an answer, but I will admit I am most impressed with your proposition, Mr. Danvere.”

Danvere looked up at him. He got out of his chair. ”Of course, Mr. Kessler.” He held out his hand and Peter took it. His grip was firm and strong. ”It's been a great pleasure talking to you, Mr. Kessler,” he said, towering over Peter.

”My pleasure,” Peter insisted.

Mr. Danvere looked down at him and smiled. ”Oh, I say, Mr. Kessler, I have a small place in Scotland, and if you have no other plans for the week-end, I should very much like to have you up there for a bit of shooting.”

Peter looked up at him. ”I'd like it very much,” he said, smiling. ”I have no other plans.”

”Good thing,” Mr. Danvere said warmly. ”I'll have my chauffeur pick you up Friday afternoon. Let my office know a convenient time for you.”

”Thanks a lot, Mr. Danvere,” Peter said.

”Make it Philippe,” Mr. Danvere said genially, holding out his hand again. ”There's no need for formalities between us. We understand each other.”

”Right you are, Philippe,” Peter said, smiling broadly and shaking his hand.

”Good-bye, Peter,” Philippe X. Danvere said from the door.

Peter walked back to his desk and sat down. Rosenberg came back into his office. He stood there looking down at Peter with an excited expression on his face. ”Well, Peter,” he asked, ”how'd we make out?”

Peter looked up at him with a puzzled expression on his face. ”What is this week-end shooting business?” he asked. ”I don't know one end of a gun from the other.”

4.

Johnny looked down at the studio work reports on his desk with a puzzled look on his face. What the h.e.l.l was this new picture, United We Stand, doing on there? He scratched his head trying to remember if Peter had told him about it before he had gone to London. He couldn't remember having heard about it before.

He pressed the buzzer on his desk and Jane came into the office. ”Yes, Johnny?” she asked.

He looked up at her. ”Did you ever hear Peter mention a picture by the name of United We Stand while he was here?”

”You mean that picture on last week's work sheet?”

”Yeanh,” he said.

”No,” she answered. ”I don't remember it. I was going to ask you what it was all about.”

He looked at her in apparent confusion. ”Search me,” he said at last. ”d.a.m.ned if I know anything about it.” He looked down at the work sheet again. ”Funny too,” he said thoughtfully. ”It pops up on the report with a hundred grand sunk into it already and only six days' shooting on it. No final budget either.” He looked up at her again. ”Call Mark at the studio for me, will ya, Janey?”

She nodded and left the office. A few seconds later his phone buzzed and he picked it up. ”Yes, Jane?”

”There's a call coming in from Peter in London for you,” her voice said. ”Do you still want me to call Mark?”

He thought for a moment. ”No,” he decided. ”Hold it. I'll ask Peter about the picture.”

He put the phone down and stared at it thoughtfully. He wondered what Peter wanted. It must be d.a.m.ned important if Peter would spend the dough to call him from London in these difficult times. The phone buzzed again. He picked it up.

”Peter is on the phone, Johnny.”

”Okay,” he said. ”Put him through.”

Peter's voice sounded thin and far away. ”h.e.l.lo, Johnny,” his voice was shouting.

”Peter, how are yuh?” Johnny answered. ”What's on your mind?”

Peter's voice sounded excited. ”I think we got our troubles licked,” he said.

”What do you mean?” Johnny asked. The excitement in Peter's voice was contagious, he began to feel it sweep through him.

”You know this guy Danvere the trade papers been full about?” Peter asked.

”You mean the Swiss textile king?” Johnny asked.

”Yes, that's the guy,” Peter answered quickly. ”I just finished a talk to him and he made me a very interesting proposition.”

”About what?” Johnny asked cautiously.

”I sent Charley Rosenberg after him to get the Martin Theaters account and he come back to me with a proposition. He'll give me preferred time in the theaters in return for a twenty-five-percent piece of the company.”

”Wait a minute,” Johnny interrupted him. ”I thought you didn't want to sell any part of the company.”

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