Hornack's teeth met in the middle of the chewed cigar.
"That's excellent logic—bully good logic, if anybody should ask you! But we're fighting a condition, not a theory. Nobody wants P. S. L. Common even at thirty-two. You wouldn't advise your worst enemy to buy it at that figure."
"I don't know," said the boss, kind of musingly. "You're forgetting the water that's been put into it from time to time by the speculators and reorganizers; there has been a good deal of that, first and last. Nevertheless, value for value, you know, and I know, that the property is worth more than thirty-two, including the bonds. What I mean is that if anybody would buy the control at that figure,—the control, mind you, and not merely a minority—and handle the road purely as a dividend-earning business proposition, he wouldn't lose money; he'd make money—a lot of it."
"All of which doesn't get us anywhere in the present pinch," returned the traffic manager. "I suppose we'll have to wait until Hatch makes his first move, and I've still got fight enough left in me to hope that he'll make it suddenly. Punch the button for me if anything new develops. I'm going back to swing on to my telephone."
Following this talk with Hornack there was a try-out with Billoughby and Juneman, but as this three-cornered conference was held in the private room of the suite, I don't know what was said. A little farther along, when the boss was once more whittling at the dictation, Mr. Van Britt strolled in. Mr. Norcross told me to take my bunch of notes to May and then he gave Mr. Van Britt his inning, starting off with: "Well, how is the general superintendent this fine morning?"
Mr. Van Britt wrinkled his nose.
"The general superintendent is wondering, one more time, why under the starry heavens he is out here in this country that God has forgotten, scrapping for a living on this one-horse railroad of yours when he might be in good little old New York, living easy and clipping coupons in the safety-deposit room of a Broad Street bank."
The boss laughed at that, and I'm telling you right now that I was glad to know that he was still able to laugh.
"You've never seen the day when you wanted to renege, Upton, and you know it," he hit back. "Think of the perfectly good technical education you were wasting when I took hold of you and jerked you out here."
"Huh!" said our millionaire; "I've got other things to think of. I've just had two enginemen on the carpet for running over an old ranchman's pet cow. They said they couldn't help it; but I told them that under the 'public-be-pleased' policy, they'd got to help it."