"Security up to the whole five million pounds."
"Of course."
"But——But I don't quite see your reason for the suggestion."
"My reason is just this," answered Larssen earnestly. "I want that prospectus to breathe out confidence in every line and every word. I want the whole five millions taken up by the public, and not left partly on the underwriters' shoulders. I want to do everything I can to make the public realise that they're being offered the squarest deal that ever was. What better plan could you have than getting the vendor—myself—to guarantee the whole issue at a mere 3 per cent. cover? No financial house of any standing would look at it for a trifle of 3 per cent. But I stand in and take the whole risk—the whole five million risk—and give you securities on my ships that bears looking into with a microscope."
Sir Francis gasped his admiration of the daring offer.
"That's pluck!" he exclaimed.
"Well, what do you say? Are you agreeable, for one?"
"Certainly—certainly!"
"Then will you bring St Aubyn and Carleton-Wingate here, and get their consent? Say to-morrow morning?"
"That's very short notice."