Part 14 (1/2)
WHEREIN BLACKIE DAW PLAYS A BRIEF CHARACTER BIT
Andy Grout came into Doc Turner's office in a troubled mood, every down-drooping line in his acid countenance absolutely vertical.
”We've made a mistake,” he squeaked. ”This young Wallingford is a hustler, and he's doing some canva.s.sing himself. In the past week he's taken at least forty members for his loan company, and every man Jack of them are old members of ours.”
Doc Turner began rubbing his frosted hands together at a furious rate.
”Squinch has sold us out!” he charged. ”He's let Wallingford copy that list on the sly!”
”No, I don't think so,” said Grout, more lugubrious than ever. ”I made some inquiries. You know, a lot of these fellows are customers of mine, and I find that he just happened to land on some of them in the first place. One recommends him to the others, just as we got them.
If we don't sell him that list right away he won't need it.”
Together they went to Squinch and explained the matter, very much to that gentleman's discomfiture and even agitation.
”What's his plan of operation, anyhow?” complained Squinch.
”I don't understand it,” returned Andy. ”I found out this much, though: the members all expect to get rich as soon as the company starts operating.”
Mr. Squinch pounded his long finger-tips together for some time while he pondered the matter.
”It might be worth while to have a share or two of stock in his company, merely to find out his complete plan,” he sagely concluded.
”If he's getting members that easy it's quite evident there is some good money to be made on the inside.”
This was the unanimous opinion of the entire five members of the board of directors, and as each member was in positive pain on the subject of ”good money on the inside,” they called a meeting that very afternoon in Mr. Squinch's office, inviting Mr. Wallingford to attend, which he did with inward alacrity but outward indifference.
”Mr. Wallingford,” said Mr. Squinch, ”we have about decided to accept your offer for our list, but before doing so we will have to ask you to explain to us the organization of your company.”
”Very simple,” Wallingford told them cheerfully. ”It's incorporated for a hundred thousand dollars; a thousand shares of a hundred dollars each.”
”All paid in?” Mr. Squinch wanted to know.
”All paid in,” replied Mr. Wallingford calmly.
”Indeed!” commented Mr. Squinch. ”Who owns the stock?”
”My four office a.s.sistants own one share each and I own the balance.”
A smile pervaded the faces of all but one of the members of the board of directors of the defunct National Building and Loan a.s.sociation.
Even Tom Fester's immovable countenance presented a curiously strained appearance. Strange as it may seem, the dummy-director idea was no novelty in New Jersey.
”I take it, then, that the paid-in capitalization of the company is not represented in actual cash,” said Mr. Squinch.
”No,” admitted Wallingford cheerfully. ”As a matter of fact, at our first meeting the directors paid me ninety-five thousand dollars for my plan of operation.”
Again broad smiles illuminated the faces of the four, and this time Tom Fester actually accomplished a smile himself, though the graining might be eternally warped.
”Then you started in business,” sagely deduced Mr. Squinch, with the joined finger-tip att.i.tude of a triumphant cross-examiner, ”having but a total cash capitalization of five thousand dollars.”
”Exactly,” admitted Wallingford, chuckling. There was no reservation whatever about Mr. Wallingford. He seemed to regard the matter as a very fair joke.