THE SECOND ANNUAL MEETING
The second annual meeting of the Tecolote stockholders found Whitney H.
Stoddard in the chair. Henry Rimrock Jones was too busy on the stock
market to permit of his getting away. He was perfecting a plan where
by throwing in all his money, and all he could borrow at the bank, he
hoped to wrest from Stoddard his control of Navajoa, besides dealing a
blow to his pride. But Whitney H. Stoddard, besides running a railroad
and a few subsidiary companies as well, was not so busy; he had plenty
of time to come to Gunsight and to lay out a carefully planned program.
As his supposed friend, the mysterious Mrs. Hardesty, had remarked once
upon a time: he was a very thorough man, and very successful.
He greeted Mary warmly and in a brief personal chat flattered her
immensely by forgetting that she was deaf. He also found time to
express his gratification that she had approved his idea of a
temperance camp. In the election that followed the incumbent Directors
were unanimously re-elected, whereupon, having performed their sole
function as stockholders, they adjourned and immediately reconvened as
Directors. In marked contrast to the last, this meeting of the
Directors was characterized by the utmost harmony--only L. W. seemed
ill at ease. He had avoided Mary since the day she came back, and even
yet seemed to evade her eye; but the reason for that appeared in time.
After the usual reports of the secretary and treasurer, showing a
condition of prosperity that made even Stoddard's eyes gleam, Mr.
Jepson presented his report. It was a bulky affair, full of technical
statistics and elaborate estimates of cost; but there was a
recommendation at the end.
"The report of our treasurer," said Jepson in closing, "shows a net
profit of several million dollars, but I wish to point out our losses.
Chief of these is the enormous wastage which comes from shipping our
concentrates. There is no doubt in my mind that the Tecolote
properties contain an inexhaustible supply of ore; nor that that ore,
if economically handled, will pay an increasing profit. The principal
charges, outside the operating expenses, have been freight and the
smelting of our concentrates. As you doubtless know, the long haul to
El Paso, and the smelter charges at that end, have materially reduced
our net profits. The greater part of this loss is preventable and I
therefore recommend that the Company construct its own smelter."
He went on with estimates of costs and the estimated saving per ton,
but Mary Fortune allowed her attention to stray. She was thinking of
Rimrock Jones, and she was watching Rimrock's proxy. Like a criminal
on trial L. W. sat glowering, his dead cigar still in his teeth; and
before the end of the report was reached the sweat was beading his face.
"Well, I, for one," began Stoddard diplomatically, "most heartily
approve of this plan. It will necessitate, of course, a postponement
of profits, but I think we can all stand that. I therefore suggest
that we apply this year's profits to the immediate construction of a
smelter and, if I hear a motion, we will consider the question of
passing the annual dividend."
He paused and as Mary went on with her writing a dead silence fell upon
the room. L. W. glanced at Jepson and then at Stoddard and at last he
cleared his throat.
"Well, Mr. President," he said, half-heartedly, "this is a new
proposition to me. I regret very much that Mr. Jones isn't here,
but--well, I make a motion that we build the smelter and pass the
annual dividend."
He spoke with an effort, his eyes on the table, and at the end he sank
back in his chair.
"Did you get that, Miss Fortune?" asked Stoddard solicitously and Mary
nodded her head.
"Yes, I second the motion," she answered sweetly and an electric thrill
passed round the room. It had not been expected by the most optimistic
that the vote would be unanimous.
"All in favor, say 'Ay!' spoke up Stoddard sharply, but L. W. had
sprung to his feet.
"Mr. President!" he began, suddenly panting with excitement, and
Stoddard fixed him with his steely eyes.
"Very well, Mr. Lockhart," he responded curtly, "what is it you wish to
say?"
"Why, I--I didn't know," began L. W. haltingly, "that she was going to
vote--that way."
"Well, you know it now," answered Stoddard freezingly, "does that
conclude your remarks?"
"Oh, no!" burst out L. W., his drawn face twitching. "I--in that case,
I change my vote. I don't think Mr. Jones----"
"You haven't voted yet," corrected Stoddard shortly, "all in favor
please say: 'Ay!'"
"Ay!" said Mary and as Stoddard echoed it he cast a sneering glance at
L. W.
"Do I understand, Mr. Lockhart," he enquired pointedly, "that you wish
to go on record as voting 'No'?"
"Yes, put me down 'No!'" directed L. W. feverishly. "I don't approve
of this at all. Rimrock needs the money--he wrote me particularly--I
wouldn't put him out for the world." He straightened the stoop from
his long, bent back and his eyes opened up appealingly. "Put me down
for a 'No,'" he repeated wildly. "My God, he'll kill me for this. I
wouldn't cross that boy for anything in the world--he's the best friend
a man ever had. But put me down 'No'--you will, won't you, Miss? I
don't want Rimrock to know."
"Mr. Lockhart votes 'No,'" broke in Stoddard peremptorily, "the 'Ayes'
have it and the motion is carried. Is there any other business?"
His cold, incisive words seemed almost to stab, but L. W. still swayed
on his feet.
"I'd like to explain," he went on brokenly. "I never go back on a
friend. But Rimrock, he's wasting his money back there--I thought it
would be a kindness."
"Yes, yes, Mr. Lockhart," interrupted Stoddard impatiently, "we all
know the goodness of your heart. Do I hear a motion to adjourn?"
He shifted his keen, commanding eyes to Mary, who nodded her head in
return. She was watching L. W. as he stood there sweating, with the
anguish of that Judas-like thought. He had betrayed his friend, he had
sold him for gold; and, already, he was sorry.
"Second the motion," said Stoddard. "All in favor say 'Ay!' The
meeting stands adjourned."
He rose up quickly and gathering up his papers, abruptly left the room.
Jepson followed as quickly and L. W., still talking, found himself
alone with the girl. She was gazing at him strangely and as he paused
enquiringly she went over and held out her hand.
"I understand, Mr. Lockhart," she said, smiling comfortingly. "I
understand just how you feel. It _was_ a kindness--I felt so
myself--and that's why I voted as I did."
The staring eyes of L. W. suddenly focused and then he seized her hand.
"God bless you," he cried, crushing her fingers in his grip. "You'll
make it right on the books? God bless you, then; I wouldn't sell out
that boy for all the money in the world."
He broke off suddenly and dashed from the room while Mary gazed
pensively after him. She too, in a way, had betrayed her friend; but
she had not done it for gold.
As secretary of the Company and the Board of Directors it devolved upon
Mary Fortune to notify Rimrock of the passed dividend. She knew as
well as L. W. knew that it would be a bitter blow to him, but she felt
no pity or regret. The money that would otherwise be wasted in New
York would be diverted to the construction of the smelter, and if he
found the loss a hardship he had only himself to thank. She went into
her office and shut the door, but, simple as the letter seemed, she was
unable to put it on paper. Three times she tried, but at each attempt
her pent-up anger burst forth and the coldest and most business-like
words she could summon seemed packed with hate and resentment. She
gave up at last and was sitting listlessly when she heard voices in the
outer room. It was Jepson and Stoddard, and as she listened closer she
could make out what they said.
"I've got a report here," said the voice of Jepson, "that I'd like to
show you--alone."
There was an impatient slamming of desk drawers and then the clerk
spoke up--the young man who had taken Mary's place.
"That report of the experts? I put it in here. You remember, on
account of Miss Fortune."
"Oh, yes," answered Jepson, "and by the way, where is she?"
And then suddenly his voice was dropped. Mary reached for her
ear-'phone and slipped it on and listened to catch every word. If
Jepson saw fit to practice deceit she had no compunction in listening
in.
"Well, that's all right," he was saying, "she can't hear what we say.
You go on out for your lunch."
There was a scuffling of feet and then, still talking, Jepson led the
way to the Directors' room.
"Yes, she reads your lips--she's really quite clever at it--that's her,
running the typewriter, now."
He shut the door and for several minutes Mary played a tattoo on her
machine. Then she keyed down quietly and, setting her transmitter at
its maximum, she turned it towards the wall.
"This is that report," the voice of Jepson was saying, "that you spoke
to me about in the spring. It gives the geology of the whole Tecolote
properties, by the very best experts in the field--three independent
reports, made in advance of litigation, and each comes to the same
conclusion. If we accept the ore-body as a single low-grade deposit
instead of a series of high-grade parallel veins--and each of these
experts does--the crest of that dome, the Old Juan claim, is the apex
of the whole. In other words, according to the apex law, the
possession of the Old Juan claim will give us indisputable right to the
whole property. You can look over that yourself."
There was a period of silence, broken only by the rattling of Mary
Fortune's machine, and then they began again.
"Very well," said Stoddard, "this seems satisfactory. Now what about
this L. W. Lockhart? In our meeting this morning he showed such a
contemptible weakness that--now Jepson, that was very careless of you!
Why didn't you find out before that fiasco how Miss Fortune intended to
vote? It must have been perfectly evident to her, from the way Mr.
Lockhart talked, that he had been--well, over-persuaded, to say the
least. It was very awkward, and if I hadn't rushed it she might have
reconsidered her vote. But never mind that--I suppose you did your
best--now who is to re-locate this claim?"
"Well, that's the question," began Jepson. "There's a man here named
Bray, who used to keep a saloon--"
"No, no!" broke in Stoddard, "no disreputable characters! Now, Jepson,
this is up to you! You're the only man we can trust in an
extremity----"
"Positively--no!" exclaimed Jepson firmly. "I absolutely refuse to
touch it. I'll arrange the preliminaries, but after it's started you
must look to your attorneys for the rest."
"Oh, nonsense!" cried Stoddard, "isn't it perfectly legal? Won't the
claim be open to location? Well, then, why this sudden resort to
evasion and hairsplitting, and all over a mere detail?"
"I have told you before," answered Jepson impatiently, "that it's
against the ethics of my profession. I am a mining engineer and if you
want this claim jumped----"
"Oh, yes, yes! We won't argue the matter! Who is this Mr. Bray?"
"He's a man with nerve--about the only one in the country that will
stand up to Rimrock Jones. It seems that Jones won his saloon away
from him and gave it to one of his friends. Some gambling feud they've
had on for years, but now Mr. Bray is broke. I haven't sounded him,
but for a thousand dollars----"
"Five hundred!"
"Now, Mr. Stoddard!" burst out Jepson complainingly, "you don't
understand the gravity of this case. Do you realize that already one
man has been killed in trying to jump that claim? And Rimrock Jones
has made the threat openly that he will kill any man who does it!"
"He's a blusterer--a braggart--a criminal, through and through! Well,
make it a thousand dollars. Now one thing more--is there any chance
that Mr. Lockhart may still break up all our plans? As I understand
it, Jones gave him his orders to see that the assessment work was done.
There are still nine days before the first of January, and it struck me
that he was repenting of his bargain. You must watch him carefully--he
doesn't seem trustworthy--and positively we must have no slip-up now.
Does he actually know that this work has been neglected--and that, if
not performed, it will invalidate the claim?"
"Yes, he knows it," answered Jepson wearily. "I've been stuffing money
into his bank until he has over a million in deposits, and still the
old screw isn't satisfied. He's crazy over money--and yet he's just as
crazy over standing A1 with Jones. You don't realize, Mr. Stoddard,
what a strain I've been under in trying to make that man run true."
"Well, give him anything. We must win at all hazards before this thing
gets back to Jones. We have cut off his money by the construction of
this smelter, but that can't be done again; and, once he begins to
accumulate his profits, we'll find him a dangerous man. But we have
passed this dividend and before I get through with him he'll be
stripped of every dollar he has won. I'm going to break that man,
Jepson, if only as an example to these upstarts who are hounding
Navajoa. I've got him by the heels and--but never mind that, let's see
if our plans are air-tight. Now, this man Lockhart!"
"He's drunk!" answered Jepson. "I'll arrange it to keep him soaked."
"Very well--now Bray!"
"He's drinking, too. I'll wait till the last day, and probably send
him out with a guard."
"Yes, make sure of that. Better send two guards. They can sign their
names as witnesses, in case Bray should leave the Territory. And now,
this girl!" went on Stoddard, lowering his voice instinctively, "is she
really as deaf as she seems? Remember, you can never depend on a
woman!"
"Yes, she's deaf!" replied Jepson. "And you don't need to worry--she
hates Rimrock Jones like poison. Did you notice the way she passed
that dividend, to cut off his supply of slush? Just as sweet and
smiling! When they take it like that--well, we can forget about her!"
He paused and in the silence a typewriter began to clack with a fierce,
staccato note. It was Mary Fortune, writing her letter to Rimrock
Jones.