Mr. Squinch drew a long breath.
“A lottery!” he exclaimed.
“Hush!” said J. Rufus, chuckling. “Impossible. Every man gets his money back. Each member takes out a bond which matures in about four years, if he keeps up his steady payments of a dollar and a quarter a week without lapsation beyond four weeks, which four weeks may be made up on additional payment of a fine of twenty-five cents for each delinquent week, all fines, of course, going into the expense fund.”
Doc Turner’s palms were by this time quite red from the friction.
“And how, may I ask, are these bonds to be redeemed?” asked Mr. Squinch severely.
“In their numbered order,” announced Mr. Wallingford calmly, “from returned loans. When bond number one, for instance, is fully paid up, its face value will be two hundred and fifty dollars. If there is two hundred and fifty dollars in the redemption fund at that time—which the company, upon the face of the bonds, definitely refuses to guarantee, not being responsible for the honesty of its bond-holders—bond number one gets paid; if not, bond number one waits until sufficient money has been returned to the fund, and number two—or number five, say, if two, three and four have lapsed—waits its redemption until number one has been paid.”
A long and simultaneous sigh from five breasts attested the appreciation of his auditors for Mr. Wallingford’s beautiful plan of operation.
“No,” announced Mr. Squinch, placing his finger-tips ecstatically together, “your plan is not a lottery.”
“Not by any means,” agreed Doc Turner, rubbing his palms.