"I haven't quite finished, but I should say it would come close to $350,000."
"Which I suppose the Salamander got. I don't like to rejoice in other men's misfortunes, Richard, but there is a certain element of justice in that," said the older man, gravely.
"What interests me is, how much more than that they got," Smith returned. "Don't forget that Cole is clever, but not the careful underwriter Mr. Osgood is, and that O'Connor was out to make a record for premium income. If the Salamander's loss up there is less than $600,000, I shall be surprised."
"Their surplus isn't as much as that, is it? That will impair them."
"On the first of January their surplus was a little less than half a million."
"Oh, well," Mr. Wintermuth returned, "I suppose they'll assess their stockholders. That man Murch will probably get up an underwriting syndicate to handle it."
"But suppose he doesn't. Suppose they decide to reinsure and quit.
Murch has the reputation of being a bad loser," said Smith, slowly.
His chief looked at him.
"Let them reinsure, then. But how does that affect us?" he said.
"Why shouldn't we reinsure them?" said the Vice-President.