“There is only one thing about this that commends itself to me, and that is the immaculate and colossal nerve of the proceeding,” declared Nick indignantly. “The next thing you know somebody will propose Sam Stone.”
At this they all laughed. The Idlers’ Club was the one institution that stood in no awe of the notorious “boss” of the city and of the state; a man who had never held an office, but who, until the past two years, had controlled all offices; whose methods were openly dishonest; who held underground control of every public utility and a score of private enterprises. The idea of Stone as an applicant for membership in the Idlers’ Club was a good joke, but the actual application of Sharpe was too serious for jesting. Nevertheless, all this turmoil over the mere name of the man worked a strange reaction in Bobby Burnit.
“After all, business is business,” he declared to himself, “and I don’t see where Sharpe’s personality figures in this Brightlight Electric deal, especially since I am to have control.”
Accordingly he directed Chalmers and Johnson to make a thorough investigation of that corporation.
CHAPTER XIV
BOBBY ENTERS A BUSINESS ALLIANCE, A SOCIAL ENTANGLEMENT AND A QUARREL WITH AGNES
The report of Mr. Johnson and Mr. Chalmers upon the Brightlight Electric Company was a complicated affair, but, upon the whole, highly favorable. It was an old establishment, the first electric company that had been formed in the city, and it held, besides some minor concessions, an ancient franchise for the exclusive supply of twelve of the richest down-town blocks, this franchise, made by a generous board of city fathers, still having twenty years to run. The concern’s equipment was old and much of it needed renewal, but its financial affairs were in good shape, except for a mortgage of a hundred thousand dollars held by one J. W. Williams.
“About this mortgage,” Mr. Chalmers advised Mr. Burnit; “its time limit expires within two months, and I have no doubt that is why Sharpe wants to put additional capital into the concern. Moreover, Williams is notoriously reputed a lieutenant of Sam Stone’s, and it is quite probable that Stone is the real holder of the mortgage.”
“I don’t see where it makes much difference, so long as the mortgage has to be paid, whether it is paid to Stone or to somebody else,” said Bobby reflectively.
“I don’t see any difference myself,” agreed Chalmers, “except that I am suspicious of that whole crowd, since Sharpe is only a figurehead for Stone. I find that Sharpe is credited with holding two hundred thousand dollars’ worth of the present stock. The majority of the Consumers Company and a good share of the United are also in his name. Just how all these facts have a bearing upon each other I can not at present state, but in view of the twenty years’ franchise, and of the fact that you will hold undisputed control, I do not see but that you have a splendid investment here. The contract for the city lighting of those twelve blocks is ironclad, and the franchise for exclusive private lighting and power is exclusive so long as ‘reasonably satisfactory service’ is maintained. As this has been undisputed for thirty years I don’t think you need have much fear upon that score,” and Chalmers smiled.