"Gentlemen," he could have said, "has it ever occurred to you to start on a small scale and work up gradually to a larger? You can mine one shaft on one claim with one cheap five-stamp mill. In that way you could at least pay expenses from the very surface. After a little you can pay more. Then you might open up another claim. That would take time to be sure; but what business does not take time?"
His actual speech was of quite different tenor. When called before the meeting by a special messenger, and asked to name the terms he was willing to offer, he replied quite simply—
"Fifteen thousand dollars."
This was, of course, quite unthinkable. An animated discussion ensued.
"We have spent over twenty thousand dollars," said Stevens, "and we owe twenty-six thousand more. Then the claims are worth something, surely. It would be better to hold the property just as it stands, on the chance of some future sale."
"Of the twenty thousand you have spent," retorted Lafond, "fifteen has been spent uselessly. I mean not that it was all waste, but that if I had been running the mine I could have bought all I would need for five thousand. And as for the twenty-six thousand you owe, what with bonuses for fast work and contracts at a high price, it ought all to have been completed for fifteen thousand. And besides, if it was I who had developed the property, I would not have sunk all these shafts before making the mill to work. I would have my mine to pay before. I am making you the offer of five thousand for the mine and ten thousand for the works."
This argument carried some weight. It availed to induce an acceptance of Lafond's final offer of five thousand cash, and the assumption of the twenty-six thousand debt. A man in his position and in his business could easily reduce the latter item.
"Of course this is merely informal," explained Stevens. "We have to call a directors' meeting yet to take official action."
"We hold controlling interest," added Murphy, for the purpose of reassuring Lafond.
"I understand," said the latter. "And now another thing. What are you going to do about the camp itself?"