The Challenge of the North by James B. Hendryx
page 27 of 129 (20%)
page 27 of 129 (20%)
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"About how much?"
"You'll have to get your figures on the paper mill from someone that knows more about it than I do. The pulp-wood will cost, I imagine, somewhere between six and ten dollars an acre. McNabb's options call for purchase at five dollars, and he told me he could not renew at that figure. But even at ten dollars, there is a mint in it. You will have to pay down ten percent of the purchase price in cash." Orcutt whistled. "Ten percent of the purchase price, at say, ten dollars, would be half a million. Besides the cost of the mill and the interest on four million and a half!" "It is a big proposition," agreed Wentworth. "If it is too big for you to handle, I can find someone who will. I have a friend in Detroit whose father will jump at the chance. It isn't too big for McNabb." "Who said anything about it being too big?" snapped Orcutt. "If McNabb could find the money, I can. But, mind you, I'm not going to spend a damned cent on the proposition until after McNabb's options have expired and we've got our hands on the pulp-wood. Mind you; you don't draw any advance money." "Not a cent," agreed Wentworth. "But you'd better have the money right on hand on the first day of July; those options expire at noon, and we don't want any delay about getting hold of the property. And, by the way, I want a written contract--make my share a ten percent interest in the business." After some demurring on the part of Orcutt, he called a stenographer |
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