“Have you th' people ready to take th' preferred?”
“Ready and waiting. If I had the franchise, I could float those eight millions within ten days.”
“What do you figger would be th' road's profits?”
“It would carry four hundred thousand passengers a day, and take in twenty thousand dollars. The operating expenses would not exceed an annual four millions and a half. That, after the eight per cent, on the preferred were paid, would leave over two millions a year on the common—a dividend of twenty per cent., or five per cent, every quarter. You can see where such returns would put the stock. You, for your ride, would go into the common on the ground floor.”
“We'll get to how I go in, in a minute,” responded Big Kennedy dryly. He was impressed by young Morton's proposal, and was threshing it out in his mind as they talked. “Now, see here,” he went on, lowering his brows and fixing his keen gray glance on young Morton, “you mustn't get restless if I ask you questions. I like to tap every wheel an' try every rivet on a scheme or a man before I hook up with either.”
“Ask what you please,” said young Morton, as brisk as a terrier.
“I'll say this,” observed Big Kennedy. “That traction notion shows that you're a hogshead of horse sense. But of course you understand that you're going to need money, an' plenty of it, before you get th' franchise. I can take care of th' Tammany push, perhaps; but there's highbinders up to your end of th' alley who'll want to be greased.”
“How much do you argue that I'll require as a preliminary to the grant of the franchise?” asked young Morton, interrupting Big Kennedy.
“Every splinter of four hundred thousand.”
“That was my estimate,” said young Morton; “but I've arranged for twice that sum.”