"It's unnecessary to point out that a director's interest is no invariably the same as that of his shareholders," Nairn rejoined.
"It's an unfortunate fact. Yet I'd be no better off if I got only the same actual return on a larger amount of what would be watered stock."
"There's sense in that. I'm no urging the scheme—there are other points against it."
"Well, I'll go up and look round the mine, and then we'll have another talk about the matter."
Vane walked back to his hotel in a thoughtful frame of mind. Finding
Carroll in the smoking-room, he related his conversation with Nairn.
"I'm a little troubled about the situation," he confessed. "The Clermont finances are now on a sound basis, but it might after all prove advantageous to raise further capital; although in such a case we would, perhaps, lie open to attack. Nairn's inclined to be cryptic in his remarks; but he seems to hint that it would be advisable to make Horsfield some concession—in other words, to buy him off."
"Which is a course you have objections to?"
"Very decided ones."
"In a general way, Nairn's advice strikes me as quite sensible. Wherever mining and other schemes are floated, there are men who make a good living out of the operations. They're trained to the business; they've control of the money; and when a new thing's put on the market, they consider they've the first claim on the pickings. As a rule, that notion seems to be justified."
"You needn't elaborate the point," Vane broke in impatiently.