"I'm not knowin' how t' thank you, Shad," replied Bob, his heart overflowing.
"That feeling is reciprocated, Bob, so we won't either of us thank the other. Now we've agreed to our partnership, we'll have plenty of time to arrange the details of our business before we go to the Bay, and then I think you'll have to make a trip to St. Johns or Boston with me to have the co-partnership agreement drawn and executed in proper legal form."
Shad explained to Bob that at the time of his birth his grandfather set aside one hundred thousand dollars to be held in trust for his benefit. It was provided that the income of this trust fund was to be paid to his guardian annually, upon his birthday, to be applied to his immediate needs, or to constitute an annual allowance of spending money, until he attained his majority, when he was to receive the principal.
"But I've never spent any of Grandfather's allowance," said Shad. "Father got me everything I needed and kept me supplied with spending money, and every year when the income from the trust fund came in Father bought government bonds with it and placed the bonds in a safety deposit vault for me.
"These bonds amount to more than the principal of the trust fund now--I don't know just how much, but I know there's considerably more than one hundred thousand dollars, for they have been earning interest all these years.
"This money is mine to use as I see fit, and I'm going to invest one hundred thousand dollars of it in our partnership and hold the balance as a reserve. Of course my sister will have to act for me until I'm of age. She's ten years older than I am, and has been my guardian since Father died. She'll not object, for she has a great deal of confidence in my judgment.
"When Father died, nearly three years ago, he left me a snug fortune, and I have plenty to live on even if our trading venture doesn't prove a money-making business at first."
"'Tis a wonderful lot o' money!" declared Bob. "More'n I can think!"
"We'll need a pretty fair capital to succeed," said Shad. "We'll have to purchase a vessel of some sort to carry on trade along the outer coast, and bring our supplies to the Bay, and carry to market our furs, fish, and oil. You'll look after the native trade, with the men you employ to help you, but I'll have to engage expert assistance in purchasing the trading goods and disposing of the products to the best advantage until I finish college and learn my end of the business. All will cost money, though I hope when we once get started we'll build up a trade that will warrant it."
Bob went to his bunk that night with his head all awhirl. The amount of capital which Shad proposed to put into their partnership, and the extensive business which he proposed to build up, were too big and too wonderful for Bob to comprehend all at once.