CHAPTER III
The matter was not difficult to arrange. Before Winfield had gone ten sentences, Eugene began to take the ideas out of his mind.
"I know something of that property," he said, studying a little outline map which Winfield had prepared. "I've been out there duck shooting with Colfax and some others. It's fine property, there's no doubt of it. How much do they want for it?"
"Well, as a matter of fact, I already own it," said Winfield. "It cost me sixty thousand dollars five years ago when it was a vast, inaccessible swamp. Nothing has been done to it since, but I will turn it over to the company for what it is worth now—two hundred thousand dollars—and take a mortgage for my protection. Then the company can do what it pleases with it; but as president, of course, I should direct the line of development. If you want to make a fortune and have fifty thousand dollars to spare, here is your chance. This land has increased in value from sixty to two hundred thousand dollars in five years. What do you fancy it will be worth in ten years from now the way New York is growing? It has pretty near four million people now. In twenty-five years it is safe to say that there will be fourteen or fifteen millions scattered over this territory which lies within twenty-five miles. Of course, this is thirty-two miles away on a direct line, but what of it? The Long Island Railroad will be glad to put a spur in there which would bring this territory within one hour of the city. Think of it—one of the finest beaches on the Atlantic Ocean within one hour of New York! I expect to interest Mr. Wiltsie, the President of the Long Island, very heavily in this property. I come to you now because I think your advertising and artistic advice are worth something. You can take it or leave it, but before you do anything, I want you to come out and look over the property with me."
All told, in stocks, land, free money in the banks, and what he might save in a year or two, Eugene had about fifty thousand dollars of good hard cash which he could lay his hands on at a pinch. He was well satisfied that Winfield was putting before him one of those golden opportunities which, prudently managed, would make him a rich man. Nevertheless, his fifty thousand was fifty thousand, and he had it. Never again, however, once this other thing was under way, if it were true, would he have to worry about a position, or whether he would be able to maintain his present place in society. One could not possibly say what an investment like this might not lead to. Winfield, so he told Eugene, expected eventually to clear six or eight million dollars himself. He was going to take stock in some of the hotels, casinos, and various other enterprises, which would be organized. He could clearly see how, later, once this land was properly drained and laid out, it would be worth from three to fifteen thousand dollars per lot of one hundred by one hundred feet—the smallest portions to be sold. There were islands which for clubs or estates should bring splendid returns. Think of the leases to yacht and boat clubs alone! The company would own all the land.
"I would develop this myself if I had the capital," said Winfield, "but I want to see it done on a gigantic scale, and I haven't the means. I want something here which will be a monument to me and to all connected with it. I am willing to take my chances pro rata with those who now enter, and to prove my good faith I am going to buy as many shares as I possibly can on the five-for-one basis. You or anyone else can do the same thing. What do you think?"
"It's a great idea," said Eugene. "It seems as though a dream which had been floating about in the back of my head for years had suddenly come to life. I can scarcely believe that it is true, and yet I know that it is, and that you will get away with it just as you are outlining it here. You want to be very careful how you lay out this property, though. You have the chance of a lifetime. For goodness' sake, don't make any mistakes! Let's have one resort that will be truly, beautifully right."
"That's precisely the way I feel about it," answered Winfield, "and that's why I am talking to you. I want you to come in on this, for I think your imagination will be worth something. You can help me lay this thing out right and advertise it right."