I took the last sentence as a preliminary defiance, and fancied Haldane did so, too; but he only laughed as he said: "I should not wonder if you were not paid that bill."
Lane nodded, as though he understood that the swords were crossed; and when he poured out a glass of wine the rest of us prepared to watch the duel, with the comforting assurance that our champion was armed with the better weapons, as well as with the justice of his quarrel. It was characteristic of the enemy that he smiled indulgently when, as he raised his glass to his lips, Steel and another man thrust their own aside. The inference could not have been plainer.
"Suppose we come straight to business," said Haldane presently. "It may save time if I recapitulate what is known of your position. If I am wrong in details you can, of course, correct me."
"You can sail ahead," and Lane, stretching out his feet, leaned back in his chair in an attitude of contemplative attention.
"To commence with, you hold a number of mortgages on land in this vicinity, from which, after recouping yourself for the loan, you are still drawing what I venture to call extortionate interest. These and your shares in the Territories Investment—which cannot be sold—I believe represent your assets. Also, after taking first-class legal opinion, we find that, owing, shall I say, to indiscretions on your part, it may be possible to prevent your foreclosing on several of those mortgages, while one subordinate, I believe, refuses to be turned out of Gaspard's Trail. On the other hand, you have certain tolerably extensive liabilities I need not enumerate, and you want money badly. Law suits are expensive, and you have a promising crop of them on hand. It was with a view of obtaining it you suggested the issue of new Territories stock, and, seeing that hang fire, unobtrusively endeavored to sell your shares. I don't think the public would look at either just now. In short, you have taken too big a mouthful; you can't hold on without money, and you can't obtain that because, for some reason, respectable banks fight shy of you. It will simplify matters if you admit all this."
"I'm not going to admit anything," Lane said sturdily, after drinking another glass of wine.
Haldane smiled as he answered: "In that case we will take for granted what I have said. Now, we have the money, time, and determination to fight you over every mortgage, and to rake up, as a claim for damages, every indiscretion."
One of the listeners chuckled in a manner expressive of surprise and satisfaction when Haldane ceased, and through the brief stillness which followed I could feel, if I could not see, that the others were in a state of strung-up expectancy.
"Better come to the point," Lane said. "The question is, what do you want from me?"
"It's pretty simple," was Haldane's answer. "We want you out of this country. It's unfortunate that we can't help considering you an obstacle in the way of its prosperity; but, not being highway robbers, we are open to make you a fair offer for your property. Here is a schedule I have drawn up, and you will see by examination that we purpose to buy the mortgages at their face value, paying you any interest due at current bank rates. We also purpose to buy back, on the same conditions, the lands on which you have already foreclosed."