"No," said George, "the treasurer's my job. You want a business man to keep a tight hand on the money."
They looked at Agatha, who made a sign of agreement. "Mr. Scott will be president."
"Very well. The next is the general manager. Thirlwell's the best man I know."
"I appointed him some time since," Agatha replied. "It's his post as long as he likes, and he ought to be paid better than anybody else."
George glanced humorously at Scott. Agatha's manner was imperious and her voice resolute. It looked is if she meant to use her new authority. Scott nodded and gave her a document.
"The shareholders may have something to say about these appointments later. In the meantime, this is a draft of our constitution. I must state that we could have kept all the profit if we had borrowed the money we need, but we should have had to pay high interest. On the whole, it seemed better to float a small company; just large enough, in fact, to get the protection the law allows a registered joint-stock body. We find we can get the money easier in this way, and it divides the risk. You will see that a large block of shares is reserved for yourself and your brother; I take some in payment for the men and supplies I am sending Thirlwell; and a number will be allotted at about ninety, to the people who find the cash."
Agatha studied the document and gave it to George. "What does issuing the stock at ninety mean?"
"Ninety cents for the dollar's worth of stock," George explained. "That's a ten per cent. margin when it touches face value and it will soon go higher."
"I see," said Agatha. "But the mine is ours, and by parting with these shares we lose control."
"Not altogether," Scott replied. "Every share carries a vote. You and your brother hold a large block, and the friends I've persuaded to join us will vote with me. Of course, if anybody bought up the most part of the other shares, he could give us trouble, but that's not likely. When it's obvious that we're making a good profit none of the holders will be willing to sell. In the meantime, some of the people are sending up a mining expert, and if they're satisfied with his opinion they'll give us the money."