If you do not pay the full amount of the firm's note to Thayer, then
the stock will be turned in to me."
"I see," said Orde.
"Now, don't misunderstand me," said Newmark drily. "This is your
own affair, and I do not urge it on you. If we raise as much as
seventy-five thousand dollars on that upper peninsula stumpage, it
will be all it can stand, for next year we must make a third payment
on it. If you take that money, it is of course proper that you pay
the interest on it."
"Certainly," said Orde.
"And if there's any possibility of the foreclosure of the mortgage,
it is only right that you run all the risk of loss--not myself."
"Certainly," repeated Orde.
"From another point of view," went on Newmark, "you are practically
mortgaging your interest in the Boom Company for seventy-five
thousand dollars. That would make, on the usual basis of a
mortgage, your share worth above two hundred thousand--and four
hundred thousand is a high valuation of our property."
"That looks more than decent on your part," said Orde.
"Of course, it's none of my business what you intend to do with
this," went on Newmark, "but unless you're SURE you can meet these
notes, I should strongly advise against it.
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