en greeted
Mr. Turner as one toward whom they were already highly predisposed, and
Mr. Princeman and Mr. Westlake also shook hands most cordially, as if
Sam had been gone for a day or two. Mr. McComas placed a chair for him.

"We just happened to mention your marsh pulp idea, and Mr. Cuthbert and
Mr. Blackrock were at once very highly interested," observed McComas as
they sat dawn. "Mr. Blackrock suggests that he don't see why you need
wait for the issuance of the letters patent, at least to discuss the
preliminary steps in the forming of your company."

"Why, no, Mr. Turner," said Mr. Blackrock, suavely and smoothly; "it is
not a company anyhow, as I take it, which will depend so much upon
letters patent as upon extensive exploitation."

"Yes, that's true enough," agreed Sam with a smile. "The letters
patent, however, should give my kid brother and myself, without much
capital, controlling interest in the stock."

Upon this frank but natural statement the others laughed quite
pleasantly.

"That seems a plausible enough reason," admitted Mr. Westlake, folding
his fat hands across his equator and leaning back in his chair with a
placidity which seemed far removed from any thought of gain. "How did
you propose to organize your company?"

"Well," said Sam, crossing one leg comfortably over the other, "I
expect to issue a half million participating preferred stock, at five
per cent., and a half-million common, one share of common as bonus with
each two shares of preferred; the voting power, of course, vested in
the common."

A silence followed that, and then Mr. Cuthbert, with a diagonal yawing
of his mouth which seemed to give his words a special dryness, observed:

"And I presume you intend to take up the balance of the common stock?"

"Just about," returned Mr. Turner cheerfully, addressing Cuthbert
directly. The papier-mache king was another man whom he had inscribed,
some time since, upon his mental list. "My kid brother and myself will
take two hundred and fifty thousand of the common stock for our patents
and processes, and for our services as promoters and organizers, and
will purchase enough of the preferred to give us voting power; say five
thousand dollars worth."

Mr. Cuthbert shook his head.

"Very stringent terms," he observed. "I doubt if you will interest
your capital on that basis."

"All right," said Sam, clasping his knee in his hands and rocking
gently. "If we can't organize on tha