"For service," he returned. "Five hundred shares to you, since the Armstrong Company will naturally peddle the stock. Five hundred to me, for my personal interest in the affair. The other five hundred will be divided among Macgowan, for legal services, and our other directors."
Armstrong shot a look at his friend.
"You in on this too?"
Macgowan waved his cigar. "Henry C. Findlater is making the proposal; I'm not! It's all news to me."
Armstrong turned his attention to Findlater.
"Let's see. We finance this plant out of Consolidated funds, which belong to the stockholders of Consolidated. My selling organization takes this stock out and sells it to our investors. A good many of them buy it on our unsupported word, because they have faith in us. They pay so much down, so much per month, all out of their savings. Correct?"
Findlater, a bit puzzled, nodded assent.
"In other words," went an Armstrong, "you propose that we take an extremely long chance with a hundred thousand of trust funds, and employ the confidence of our investors to draw their money into the scheme also. For doing so, we split fifteen hundred shares of the stock free. This, Findlater, is nothing short of bribery. The whole scheme is a misuse of confidence; or, if you prefer the word—theft."
Findlater came to his feet, his face purple.
"I won't stand such words, Armstrong!" he cried passionately. "I won't stand—"