ands on the amount each subscriber
had paid in, which represented twenty-five per cent. of the total value
of the shares allotted. The National City Bank would generously loan the
balance. A little later an accomplice would cause a flurry in the
market. The loans would be called and, automatically, the stock,
together with the money that had been paid for it, would fall into the
greedy maws of Rockefeller and Rogers. No fluttering fly was ever so
surely enmeshed and at the mercy of weaving spider as the unfortunates
whom I had so decoyed to the "Standard Oil" web. With the most valiant
assumption of indifference, I continued:

"That being the case, it cannot possibly interfere with Flower's set-out
for me to spread the news, too, that any one who wants to borrow the
balance of his subscription can get it from Stillman's Bank?"

"You can do better than that, Lawson," said Mr. Rogers with an air of
real cordiality. "You can let it be known to the brokers and the Wall
Street men that any good house can borrow all it wants on Amalgamated to
the extent of ninety cents on the dollar. Of course, this won't be for
irresponsible outsiders, for the stock might break below ninety, but
give the word that any responsible broker can always borrow as high as
ninety dollars a share for those who want the stock on margin."

"That will help things," I answered. "Now, Mr. Rogers, let me tell you
what I have decided to do on my own hook. Don't misunderstand me; it
has nothing to do with you or the rest, and, of course, none of you will
object to my doing all I care to on my own account. As you said
yesterday, one portion of our job is finished, and we have thirty-six
millions' profit. This means either cash or its equivalent, stock, which
at par or over is as good as cash, at least as good as ninety, which I
can have my brokers borrow at the City. I calculate that my share is
nine millions less whatever you have given away in the handling of the
enterprise."

I paused as I saw a black cloud gathering on his face at my mention of
nine millions of dollars, but before he could object I went on:

"I understand, of course, that the expense and the shares you have had
to give to others represent a huge total. At the same time there have
been huge profits on the side. There is no necessity to enter upon what
is coming to me just now, but what I intended to say was this: I have
millions with you and Mr. Rockefeller--millions more than I owe yo