If, on the other hand, I find the situation hopeless or
conclude that a period of several years must ensue before the
Cardigans work out of debt, I shall recommend to the bank which holds
the deed of trust and acts as trustee, that the property be sold at
public auction to the highest bidder to reimburse the bondholders. Of
course," he hastened to add, "if the property sells for more than the
corporation owes such excess will then in due course be turned over
to the Cardigans."
"Is it likely to sell at a price in excess of the indebtedness?"
Shirley queried anxiously.
"It is possible, but scarcely probable," he answered dryly. "I have
in mind, under those circumstances, bidding the property in for the
Laguna Grande Lumber Company and merging it with our holdings, paying
part of the purchase-price of the Cardigan property in Cardigan
bonds, and the remainder in cash."
"But what will the Cardigans do then, Uncle Seth?"
"Well, long before the necessity for such a contingency arises, the
old man will have been gathered to the bosom of Abraham; and after
the Cardigan Redwood Lumber Company has ceased to exist, young
Cardigan can go to work for a living."
"Would you give him employment, Uncle Seth?"
"I would not. Do you think I'm crazy, Shirley? Remember, my dear,
there is no sentiment in business.
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