The Making of Bobby Burnit Part 19

"I'm afraid it needs more than that," retorted Bobby. "I'm afraid it needs to be in a position to make more money for other people than for myself;" through which remark it may be seen that, though perhaps a trifle slow, Bobby was learning.

Another lesson awaited him. On the following morning every paper in the city blazed with the disquieting information that the Consumers'

Electric Light and Power Company and the United Illuminating and Fuel Company were to be consolidated! Out of the two old concerns a fifty-million-dollar corporation was to be formed, and a certain portion of the stock was to be sold in small lots, as low, even, as one share each, so that the public should be given a chance to partic.i.p.ate in this unparalleled investment. Oh, it was to be a tremendous boon to the city!

Bobby, much worried, went straight to Chalmers.

"So far as I can see you have all the best of the bargain," Chalmers rea.s.sured him. "The Consumers', already four times watered and quoted at about seventy, is to be increased from two to five million before the consolidation, so that it can be taken in at ten million. The Union, already watered from one to nine million in its few brief years, takes on another hydraulic spurt and will be bought for twenty million. Of the thirty million dollars which is to be paid for the old corporation, nineteen million represents new water, the most of which will be distributed among Stone and his henchmen. The other twenty million will go to the dear public, who will probably be given one share of common as a bonus with each share of preferred, and pay ten million sweaty dollars for it. Do you think this new company expects to pay dividends? On their plants, worth at a high valuation, five million dollars, and their new capital of ten million, a profit must be earned for fifty million dollars' worth of stock, and it can not be done. Within a year I expect to see Consolidated Illuminating and Power Company stock quoted at around thirty. By that time, however, Stone and his crowd will have sold theirs, and will have cleaned up millions. Brightlight Electric was probably too small a factor to be considered in the consolidation. Did you pay off that mortgage? Then Stone has his hundred thousand dollars; the back salary list of Stone's henchmen has been paid up with your money; Sharpe and Williams have converted their stock and Stone's into cash at a fancy figure; Eastman is to be taken care of in the new company and they are satisfied. In my estimation you are well rid of the entire crowd, unless they have some neat little plan for squeezing you. But I'll tell you what I would do. I would go direct to Stone, and see what he has to say."

Bobby smiled ironically at himself as he climbed the dingy stairs up which it was said that every man of affairs in the city must sooner or later toil to bend the knee, but he was astonished when he walked into the office of Stone to find it a narrow, bare little room, with the door wide open to the hall. There was an old, empty desk in it--for Stone never kept nor wrote letters--and four common kitchen chairs for waiting callers. At the desk near the one window sat Stone, and over him bent a shabby-looking man, whispering. Stone, grunting occasionally, looked out of the window while he listened, and when the man was through gave him a ten-dollar bill.

"It's all right," Stone said gruffly. "I'll be in court myself at ten o'clock to-morrow morning, and you may tell Billy that I'll get him out of it."

Another man, a flashily-dressed fellow, was ahead of Bobby, and he, too, now leaned over Stone and whispered.

"Nothing doing," rumbled Stone.

The man, from his gestures, protested earnestly.

"Nix!" declared Stone loudly. "You threw me two years ago this fall, and you can't come back till you're on your uppers good and proper. I don't want to see you nor hear of you for another year, and you needn't send any one to me to fix it, because it can't be fixed. Now beat it. I'm busy!"

The man, much crestfallen, "beat it." Bobby was thankful that there was no one else waiting when it was his turn to approach the Mogul.

Stone shook hands cordially enough.

"Mr. Stone," inquired Bobby, "how does it come that the Brightlight Electric Company was not offered a chance to come into this new consolidation?"

"How should I know?" asked Stone in reply.

"It is popularly supposed," suggested Bobby, smiling, "that you know a great deal about it."

Mr. Stone ignored that supposition completely.

"Mr. Burnit, how much political influence do you think you could swing?"

"Frankly, I never thought of it," said Bobby surprised.

"You belong to the Idlers' Club, you belong to the Traders' Club, to the Fish and Game, the Bra.s.sie, the Gourmet, and the Thespian Clubs.

You are a member of the board of governors in three of these clubs, and are very popular in all of them. A man like you, if he would get wise, could swing a strong following."

"Possibly," admitted Bobby dryly; "although I wouldn't enjoy it."

"One-third of the members of the Traders' Club do not vote, more than half of the members of the Fish and Game and the Bra.s.sie do not vote, none of the members of the other clubs vote at all," went on Mr.

Stone. "They ain't good citizens. If you're the man that can stir them up the right way you'd find it worth while."

"But just now," evaded Bobby, "whom did you say I should see about this consolidation?"

"Sharpe," snapped Stone. "Good day, Mr. Burnit." And Bobby walked away rather belittled in his own estimation.

He had been offered an excellent chance to become one of Stone's political lieutenants, had been given an opportunity to step up to the pie counter, to enjoy the very material benefits of the Stone style of munic.i.p.al government; and in exchange for this he had only to sell his fellows. He knew now that his visit to Sharpe would be fruitless, that before he could arrive at Sharpe's office that puppet would have had a telephone message from Stone; yet, his curiosity aroused, he saw the thing through. Mr. Sharpe, upon his visit, met Bobby as coldly as the January morning when the Christmas bills come in.

"We don't really care for the Brightlight Electric in the combination at all," said Mr. Sharpe, "but if you wish to come in at a valuation of five hundred thousand I guess we can find a place for you."

"Let me understand," said Bobby. "By a valuation of five hundred thousand dollars you mean that the Brightlight stock-holders can exchange each share of their stock for one share in the Consolidated?"

"That's it, precisely," said Mr. Sharpe without a smile.

"You're joking," objected Bobby. "My stock in the Brightlight is worth to-day one hundred and fifty dollars a share. My two hundred and sixty thousand dollars' worth of stock in the Consolidated would not be worth par, even, to-day. Why do you make this discrimination when you are giving the stock-holders of the Consumers' an exchange of five shares for one, and the stock-holders of the United an exchange of twenty shares for nine?"

"We need both those companies," calmly explained Sharpe, "and we don't need the Brightlight."

"Is that figure the best you will do?"

"Under the circ.u.mstances, yes."

"Very well then," said Bobby; "good day."

"By the way, Mr. Burnit," Sharpe said to him with a return of the charming smile which had been conspicuously absent on this occasion, "we needn't consider the talk entirely closed as yet. It might be possible that we would be able, between now and the first of the next month, when the consolidation is to be completed, to make you a much more liberal offer to come in with us; to be one of us, in fact."

Bobby sat down again.

"How soon may I see you about it?" he asked.

"I'll let you know when things are shaped up right. By the way, Mr.

Burnit, you are a very young man yet, and just starting upon your career. Really you ought to look about you a bit and study what advantages you have in the way of personal influence and following."

"I have never counted that I had a 'following.'"

"I understand that you have a very strong one," insisted Sharpe. "What you ought to do is to see Mr. Stone."

"I have been to see him," replied Bobby with a smile.

"So I understand," said Sharpe dryly. "By the way, next Tuesday I am to be voted upon in the Idlers'. You are on the board of governors up there, I believe?"

"Yes," said Bobby steadily.

Sharpe studied him for a moment.

"Well, come around and see me about this consolidation on Wednesday,"

he suggested, "and in the meantime have another talk with Stone. By all means, go and see Stone."

"Johnson," asked Bobby, later, "what would you do if a man should ask you to sell him your personal influence, your self-respect and your immortal soul?"

"I'd ask his price," interposed Applerod with a grin.

"You'd never get an offer," snapped Johnson to Applerod, "for you haven't any to sell. Why do you ask, Mr. Burnit?"

Bobby regarded Johnson thoughtfully for a moment.