"I thought a boundless optimism was the most essential thing," Andrew replied, taking the paper handed him. "You're moderate," he continued when he had read it. "Ten per cent. is all you promise, though as far as my experience goes, twenty's the more usual thing."
"Allinson's does not promise more than it can fulfill."
"That's true and quite in accordance with my views. Until lately, however, prospectuses were very much out of our line."
Leonard was surprised and annoyed. Andrew was associating himself with the business in an unusual manner; although he had a right to do so.
"If there's anything you wish to ask, I shall be glad to explain it."
"These underwritten shares—I suppose you're letting the fellows have them below par? Is that because you expect any difficulty in getting the money?"
"No; any project we're connected with will be taken up. Still, when you launch a good thing, it's policy to let a few members of the ring in at bottom and give them a share of the pickings."
Andrew frowned.
"It sounds like a bribe. But these pickings? They must come out of the shareholders' pockets."
"In the end, they do."