He put out his hand and into it Rollins placed two sheets of paper, that were headed on top simply by an embossed Wall Street address and dated almost five years before.
Luke read:
"Confidential.
"MR. ROBERT M. DOHAN,
"Delaware Avenue,
"Buffalo, N. Y.
"DEAR MR. DOHAN:
"I understand that the bill of which you have spoken to me will be passed and become a law to-day. I have just seen Messrs. Hallett and Rivington and have secured their agreement to the plan outlined in my personal conversation with you last week. In view of the favors that you have done me in the past, I think it fair to tell you, for your own use only, that my friends have decided that they and I ought to do what you thought they might decide, viz.: unload at the end of five years. Considering your contemplated resignation next year, this will not affect you, except favorably in case you care to manipulate your own holdings in accordance with this news.
"I note what you say about the estimate submitted by the construction-department; also the letter of the steel-rail manufacturers which you inclosed, in which they say that the grade I suggested might not wear well. I think their use of the word 'dangerous' is absurdly exaggerated. We have used this grade on several of our roads and feel sure from long experience that, with proper repair-gangs, it will wear for five years as well as the best.
"My desire and the desire of my associates is to protect the interests of the stockholders. With that in mind, I should state, what you have probably already gathered, that we feel that the new line must be built and operated with all possible economy."