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Updated: May 29, 2025
After I've paid half the money I can mortgage her for the remainder and get out from under your clutches. Put the buck up to your directors, get their approval to the option and contract of sale, notify me, and I'll be right up with a certified check for ten thousand dollars." And, without giving MacCandless time to answer, Matt took his departure.
"There's reason in that," MacCandless answered thoughtfully. "You to insure the vessel as our interest may appear, bill of sale in escrow; and if you default for more than thirty days on any payment before we have received fifty per cent. of the purchase price you lose out and we get our ship back." "Sharp business, but I'll take it, Mr. MacCandless.
MacCandless shook his head. "Well, that ends our argument," Matt answered pleasantly, and took up his hat. "You can keep your big white elephant another eight years, Mr. MacCandless. Perhaps some principal will come along then and make you another offer; and in the interim you can charge off about one hundred and fifty thousand dollars interest on the money tied up in the Narcissus.
Then give Matt a check for the next payment due that man MacCandless on the Narcissus and after you've cleaned up with Matt, Skinner, have Hankins issue him seven hundred and fifty thousand dollars' worth of stock half in the Blue Star and half in the Ricks Lumber & Logging Company.
MacCandless and the attorney for his company were awaiting them, with a tentative form of contract of sale already drawn up, and after a two-hour discussion on various points the finished document was finally presented for the signatures of both parties, but not, however, until Matt Peasley had been forced to do something that brought out a gentle perspiration on the backs of his sturdy legs.
At five o'clock that same day MacCandless telephoned. "I have called a special meeting of our directors, Captain Peasley," he announced, "and put your proposition up to them. They have agreed to it, and if you will be at my office at ten o'clock to-morrow I think we can do business." "I think so," Matt answered. "I'll be there."
He trembled a little as he did it. "I'll have the insurance on her placed this afternoon," MacCandless suggested as he handed Matt his copy of the sale contract; whereat the latter came to life with galvanic suddenness. "Oh, no, you'll not, Mr. MacCandless," he suggested smilingly. "I'll place that insurance myself.
"Young man," said MacCandless, "you talk like a person that means business, but you overlook the fact that this company is neither bankrupt nor silly. The directors will, I feel assured, agree to do all the work you specify, but the price must be three hundred thousand. That will leave us two hundred and fifty thousand dollars net." "I'll split the difference with you."
"Foolish of me to ask, I know," Matt continued complacently, "since it is a matter of common gossip that you would have been delighted to have sold her any time these past eight years." Since MacCandless did not deny this Matt assumed that it was true and returned to the attack with renewed vigor. "What do you want for her?"
He thanked the chief for the latter's invaluable information, and, with a mental resolve to have Terence Reardon presiding over the engines of the Narcissus at no distant date, he returned to the city. The following morning Matt called upon MacCandless, the general manager of the Oriental Steamship Company. Mr.
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