why didn't you? On board ship there was one of the best opportunities we could have had of having a talk with him. In fact, the whole matter might perhaps have been arranged there.'
'Oh, well, you know, I couldn't talk to you about it, because a certain circumstance arose, and you spent your time very much in the forward part of the steamer, sitting on a coil of rope and cursing the universe generally and yourself in particular'.
'Ah, yes, I remember, of course—yes. Very well, then, you have not seen young Longworth since, have you?'
'No, I have not.'
'Wouldn't the old gentleman go in for it?'
'His daughter seemed to think he would not, because the amount was too small.'
'Why couldn't he be got to go into it entirely by himself? If we put the price up to one hundred thousand pounds or two hundred thousand pounds, that ought to be large enough for him, if he were playing a lone hand.'
'Well, you see, I don't suppose they thought of going in for it at that, except as a matter of speculation. Of course, if they intended to buy some shares, it is not likely they would propose to raise the price from fifty thousand pounds to two hundred thousand pounds. Young Longworth spoke of dividing the profit. He claimed that whatever we made on fifty thousand pounds would be too small to be divided into three. I told him, of course, that you were my partner in this, and that is why he proposed the price should be made two hundred thousand pounds.'
'I suppose he seemed indifferent on the question whether it should pay a dividend on that amount of money or not?'
'He didn't mention that particularly—at least, he did not dwell upon it. He asked if it would pay a dividend on two hundred thousand, and I told him I thought it would pay ten per cent. if rightly managed; then he said of course that was its price, and we should be great fools to float it at fifty thousand pounds when it was really worth two hundred thousand.'
Wentworth pondered for a few minutes on this, tapping his pencil on the desk and knitting his brow.
'It seems an awful jump, from fifty thousand pounds to two hundred thousand pounds, doesn't it, John?'
'Yes, it does; it has a certain look of swindling about it. But what a glorious thing it would be if it could be done, and if it would pay the right percentage when we got the scheme working!'
'Of course I wouldn't be connected, nor you either, with anything that was bogus.'
'Certainly not. I wouldn't think for a moment of inflating it if I were not positive the property would stand it. I have been making, and have here in my pocket, an elaborate array of figures which will show approximately what the mine will yield, and I am quite convinced that it will pay at least ten per cent., and possible twelve or fifteen.'
'Well, nobody wants a better percentage on their money. Have you the figures with you?'
'Yes, here they are.'
'Very well, you had better leave them with me, and I will go over them as critically as if they were the figures of somebody I was deeply suspicious of, I hope they will hold water; but if they do not, I will point out to you where the discrepancies are.'
'But, you see, George, it is more a question of facts than of figures. I believe the whole mountain is made of the mineral which is so valuable, but I take only about an eighth of it as being possible to get out, which seems to me a very moderate estimate.'
'Yes, but how much demand is there for it? That is the real question. The thing may be valuable enough, but if there is only a limited demand—that is to say, if we have ten times the material that the world needs—the other nine parts are comparatively valueless.'
'That is true.'
'Do you know how many establishments there are in the world that use this mineral?'
'There are a great many in England, and also in the United States.'
'And how about the duty on it in the United States?'
'Ah, that I do not know.'
'Well, we must find that out. Just write down here what it is used for; then I shall try to get some information about the factories that require it, and also what quantities they need in a year. We shall have to get all these facts and figures to lay before the people who are going to invest, because, as I understand it, the great point we make is not on the mica, but on the other mineral.'
'Exactly.'
'Very well, then, you leave me what you know already about it, and I will try to supplement your information. In fact, we shall have to supplement it, before we can go before anybody with it. Now, I advise you to see the Longworths—both old and young Longworth—and you may find that talking with them in the City of London is very different from talking with them on the Caloric. By the way, I wonder why Longworth was not at the directors' meeting to-day.'
'I do not know. I noticed he was absent.'
'He very likely intends to have nothing more to do with the other mines, and so there may be a possibility of his investing in ours. Do you know his address?'
'Yes, I have it with me.'
'Then, if I were you, I would jump into a hansom and go there at once. Meanwhile, I will try to get your figures into shipshape order, and supplement them as far as it is possible to do so. This is going to be no easy matter, John. There are a great many properties now being offered to the public—the papers are full of them—and each of them appears to be the most money-making scheme in existence; so if we are going to float this mine without knowing any particular capitalist, we have our work cut out for us.'
'Then, you would be willing to put the price up to two hundred thousand pounds?'
'Yes, if you say the mine will stand it. That we can tell better after we have gone over the figures together. We ought to be sure of our facts first.'
'Very well. Good-bye; I will go and see Mr. Longworth.'
CHAPTER XVI.
John Kenyon did not take a cab. He walked so that he might have time to think. He wanted to arrange in his mind just what he would say to Mr. Longworth, so he pondered over the coming interview as he walked through the busy streets of the City.
He had not yet settled things satisfactorily to himself when he came to the door leading to Mr. Longworth's offices.
'After all,' he said to himself, as he paused there, 'Mr. Longworth has never said anything to me about the mica-mine; and, from what his daughter thought, it is not likely that he will care to interest himself in it. It was the young man who spoke about it.'
He felt that it was really the young man on whom he should call, but he was rather afraid of meeting him. The little he had seen of William Longworth on board the Caloric had not given him a very high opinion of that gentleman, and he wondered if it would not have been better to have told Wentworth that nothing was to be expected from the Longworths. However, he resolved not to shirk the interview, so passed up the steps and into the outer office. He found the establishment much
