A ROYAL ALLY
By William Maynadier Browne
Illustrations by A. I. Keller
Like many other energetic and successful men, Mr. Cutting had his enemies. When, as counsel for the East End Land and Traction Company, he discovered that the policy of a majority of the Board of Directors was to slowly but surely "freeze out" the smaller stockholders, he promptly resigned his position, and proceeded to form a coalition among the to-be-frozen. This coalition had for its object the overthrow of the existing management and the subsequent instituting of a new and generous policy.
Michael O'Connor.
After a hard, stubborn fight, Mr. Cutting and his followers won; the management was displaced, and Mr. Cutting again became counsel for the company. But he had added to his list of enemies some who, though few in number, were long of memory, relentless, and powerful.
Under the new régime the company prospered, and the patient stockholders received their dividends regularly, hitherto withheld or, rather, made to appear non-existing by means of the well-known device of undervaluing the company's lands in converse ratio to its increasing earnings.
The annual meeting was but two days off, and Mr. Cutting's sky seemed clear and tranquil; but overnight clouds had gathered black and ominous. The enemy, believing themselves once more superior in strength, or nearly enough so to venture upon the step, at the last moment sounded the note of war. That evening's paper contained insinuations, which were followed in the morning editions by large headlines and by direct though guarded accusations.
It was this morning, the morning of the very day before the annual meeting, that I was sitting in the office reading these same accusations. I was indignant and tired out.
All the night before I had been closeted with Mr. Cutting in his house, working out with him a defence for use in the battle to come, writing to this or telegraphing to that out-of-town holder of the stock; in one instance even cabling to London for a proxy allowing Mr. Cutting to vote a thousand shares held by a friend of his who was abroad. Together we had gone through the long list of stockholders, checking off those for and those against us, and embodying in a new list the names, not a few, of those either uncertain or unknown to us. This list comprised the names of almost all the smaller holders, owning from one to fifty shares. The only large holding was that of one Andrew J. Ahearn, against whose name appeared the goodly figure of five hundred shares. But, alas! he was among the unknown to us.
As I was leaving the house Mr. Cutting had said to me, mournfully: "I'm afraid they've got us this time. We need four thousand shares more, counting Emley's as safe; and the cable may not reach him in time, or he may be out of London. But, never mind," he added, clapping me warmly on the shoulder; "we will fight 'em till they knock us out, and go for 'em again next year. See you at the office."