Adventure, August 3, 1919 — page 90: what you’re looking at

Machine-transcribed from the original scan — historical spelling and the odd misread are preserved.

80 thought I was only selling to Mr. Smith. If we have to speak of—of those others— suppose we call them ‘the firm’?” Smith laughed softly and dropped his eyes. “So,” he murmured, “that’s it. Well, I don’t blame you, and I feel safe you won’t talk. Now suppose I put my cards on the table. We have only just begun to buy options, and I was given the job of getting them because I am not a shipping man and would not be suspected. I had to come to Gibraltar on another matter, and, having heard about these scorpions and their ability to get ships cheap, I tied up this Sylvester—telling him nothing. So far we have done but little, but soon I will go to London and get busy, with more men to help me. But I have to have your options, of course, and, of course, you want to sell—bought them for that reason. “Suppose you transfer all you have over to me and go out and get all you can in addition—I will agree to take all you can get. But, first, can you guarantee to a transfer from your option-forms to these—which are perhaps more generous?” He handed Williams a printed option- form, which the captain read rapidly. As he had ‘bought no options, he naturally had no objection to saying he could use the forms. “T will buy,” Smith was saying, “at ten shillings a ton for six months from date of transfer to me. You can make your com- mission and profit from the difference between the ten shillings and what you have to pay, can you not?” Williams thought rapidly. His numerous conversations with other shipmasters had given him much inside information about the losses of many firms of ship-owners, apart from what was general knowledge. He had no doubt that many were anxious to sell and would welcome the chance to get a few shillings a ton for options. He knew, too, that his credit and reputation stood very high with Smith—Sylvester’s extraordinary agitation had seen to that. By the way, why had Sylvester been so upset? He questioned Smith. “Oh,” Smith's face hardened with a curious expression, “‘oh, he was just scared you were going to cut in on him; that’s all.” He became silent, as if with the suspicion that Sylvester knew more than he was supposed to. Adventure “How much will you to deliver?” Smith seemed anxious to to business one get the ee ee uliams brea . This his first plunge, — ie “Oh, I can promise a hundred thousand tons if you will agree to take all I can get over that at ten shillings a ton. Purchase price to be not more than an advance of a fourth of insured value.” “Will you sign a binding contract to that effect, agreeing to pay me ten shillings a ton damages for all of the hundred thousand you fail to deliver?” “Got a copy of that contract?” From among his many printed forms Smith produced a blank contract, pointing out the various clauses. It was a clear and concise form. “You will have thirty days in which to deliver a hundred thousand tons to me, each option to fun for six months from the date it is signed. Is all that satisfactory?” “Seems so,’ Williams spoke slowly. “IT am to contract to deliver to/you options for six months on a hundred thousand tons of Ar steamers, no ship to be less than twenty-five-hundred tons, net, at ten shil- lings a ton to me. The options to be drawn on your forms, which you supply. If I fail to deliver, I am to pay you ten shillings a ton for all I lack of the hundred thousand. You also agree to buy, on the same terms, all over the hundred thousand that I can get hold of?” “That last may be canceled at any time, though, when we get all we want,” supple- mented Smith. “Sure—you’re not buying all the earth. I know ‘that. Of course, you know that” I already have most of that hundred thousand. The options are with my lawyer in London; so all I have to do is transfer themfrom my forms to yours. I got them for longer than six months; so that’s easy. And the final buyer in all cases, at no more than a fourth in excess of insured value, is to be J. P. Smith, not the firm, eh?” — ‘Don’t talk like that,’ snapped Smith. “You're not supposed to know about the firm, you know,”’ : “All right, Mr. Smith,”’ Williams re- torted, “but I do know this: that, while the firm has lots of money, you may not have. I have only eee word, you know, that you represent them. If you want me to sign this contract—it means a lot to me, comicbooks.com