"What!" exclaimed Mr. Wintermuth. "What's that you say?"
"I say," returned Smith, "that the Salamander is far more likely to reinsure than to stand a heavy assessment. And we want that business of theirs. We have a little score to settle with the Salamander, sir."
"Yes, yes," admitted the President. "O'Connor has treated us very badly; still, it has worked out very fortunately for us. And at any rate," he added, "I do not believe in allowing personal animus to govern one's business acts or policy."
It was a sounding phrase, although not quite new.
"Neither do I," said Smith, promptly; "but this is more than an act of poetic justice. Of course there's a certain satisfaction in finding that one of the packages stolen from us contained a bomb which blew up the burglar—but how much more appropriate it would be if the same explosion hurled the rest of the stolen property into the hands of the original and rightful owners. And besides that, the Salamander business is well worth putting on our books—and there's a lot of it."
"Yes. Too much, in fact," said his chief. "Our resources are not sufficient to permit our taking on such a load."
"I admit that," replied the younger man. "We will have to increase our capital a half a million. And now's the time to get it. We can issue it at 200, which is rather less than the present stock is selling for, and the premium will take care of our surplus when we take on this new business. I believe our stockholders will back us up. While other companies are asking their stockholders for more money to pay their Boston losses, we are asking ours to put us in the first rank of underwriting institutions in the United States."
Mr. Wintermuth looked at the young man before him, a long, grave look.
"Richard," he said at last, "I am fond of you, and I suppose that having no son of my own to be proud of, I am proud of you, too. But sometimes you make me feel a hundred years old."
"You needn't," answered Smith, affectionately, "for you've taught me almost all I know. If I am a little more aggressive than I might be, perhaps you were too, at my age. The question is, what is to the best interest of the Guardian?"