While the elderly folks sat and talked together, Phil wandered off with Eileen down among the trees by the lake side. There in the shade, sitting on a grassy knoll, he told her of the plans his father and Jim and he were formulating. He cajoled her, he coaxed her, then he bullied her; but it was only when he proved to her that everything was purely in the nature of an investment, that there was no question of bolstering a tottering edifice, that it was only because of its great possibilities that they were anxious to be in it; it was only then that he won her over to their way of thinking.
Meantime Jim and Margery were away out on the lake in a motor boat, and they were both so loth to return that much hallooing and horn-honking had to be done before they swung round shoreward.
After dinner at Royce Pederstone’s, the ladies gathered together for music and conversation, while the four men closeted themselves over their cigars, in order to thrash out the burning question.
“That, gentlemen, is my exact financial position, as far as I know it,” said John Royce Pederstone, after a lengthy explanation. “This is the bank’s statement of my indebtedness to them. I received it yesterday.”
They studied the figures closely for a time, then Phil’s father––shrewd business man, quick to grasp a situation; 392 clear-visioned, frank, lucid and brief––put the proposition in a nut-shell.
“Mr. Pederstone,––the boys have two hundred and fifty thousand dollars eating their paper heads off in idleness in the bank. I have,––well––as much as I require at any time. I have come out West to settle, and I mean to do so. If we don’t come to an arrangement with you, we intend buying from someone else.
“We have been all over your properties to-day and they comprise some of the most valuable land in the Valley. The ranches are well laid out, the fruit varieties are of the best. Unfortunately, these ranches have not been too well looked after. The reason for this is not far to seek. From what I can gather, there has been no proper supervision of your various ranch foremen, who, evidently, have been devoting most of their time to the places they themselves own, fattening and growing rich meanwhile in some mysterious way, while you grew poor.
“The boys and I are willing to enter into joint partnership with you for the purpose of paying off your entire indebtedness to the bank and any others, so that the properties may be absolutely unencumbered.
“Between us, we can see to the proper future supervision of the farms. We can get rid of all your useless help, hire competent foremen and ranch-hands at good wages, and so have the trees properly cared for and new ones planted to replace those that have been killed by the winter cold or have died from neglect.
“Are you agreeable to the proposition?”