treatment our drafts have met with--which were not
honored; nor by the reception of any part of the appropriation, no part
of it having come to hand."

"Why, my dear Mr. Brierly, there must be some mistake, I am sure we wrote
you and also Mr. Sellers, recently--when my clerk comes he will show
copies--letters informing you of the ten per cent. assessment."

"Oh, certainly, we got those letters. But what we wanted was money to
carry on the work--money to pay the men."

"Certainly, certainly--true enough--but we credited you both for a large
part of your assessments--I am sure that was in our letters."

"Of course that was in--I remember that."

"Ah, very well then. Now we begin to understand each other."

"Well, I don't see that we do. There's two months' wages due the men,
and----"

"How? Haven't you paid the men?"

"Paid them! How are we going to pay them when you don't honor our
drafts?"

"Why, my dear sir, I cannot see how you can find any fault with us. I am
sure we have acted in a perfectly straight forward business way.--Now let
us look at the thing a moment. You subscribed for 100 shares of the
capital stock, at $1,000 a share, I believe?"

"Yes, sir, I did."

"And Mr. Sellers took a like amount?"

"Yes, sir."

"Very well. No concern can get along without money. We levied a ten per
cent. assessment. It was the original understanding that you and Mr.
Sellers were to have the positions you now hold, with salaries of $600 a
month each, while in active service. You were duly elected to these
places, and you accepted them. Am I right?"

"Certainly."

"Very well. You were given your instructions and put to work. By your
reports it appears that you have expended the sum of $9,610 upon the said
work. Two months salary to you two officers amounts altogether to
$2,400--about one-eighth of your ten per cent. assessment, you see; which
leaves you in debt to the company for the other seven-eighths of the
assessment--viz, something over $8,000 apiece. Now instead of requiring
you to forward this aggregate of $16,000 or $17,000 to New York, the
company voted unanimously to let you pay it over to the contractors,
laborers from time to time, and give you credit on the books for it.
And they did it without a murmur, too, for they were pleased with the
progress you had made, and were glad to pay you that little compliment
--and a very neat one it was, too, I am sure. The work you did fell short