If there was, we wouldn't have any
business."
"I think I understand, Uncle Seth--with the exception of what effect
the building of the N. C. O. has upon your plans."
"Item two," he challenged, and ticked it off on his middle finger.
"The Cardigan Redwood Lumber Company owns two fine bodies of redwood
timber widely separated--one to the south of Sequoia in the San
Hedrin watershed and at present practically valueless because
inaccessible, and the other to the north of Sequoia, immediately
adjoining our holdings in Township Nine and valuable because of its
accessibility." He paused a moment and looked at her smilingly, "The
logging railroad of our corporation, the Laguna Grande Lumber
Company, makes it accessible. Now, while the building of the N.C.O.
would be a grand thing for the county in general, we can get along
without it because it doesn't help us out particularly. We already
have a railroad running from our timber to tidewater, and we can
reach the markets of the world with our ships."
"I think I understand, Uncle Seth. When Cardigan's hauling contract
with our road expires, his timber in Township Nine will depreciate in
value because it will no longer be accessible, while our timber,
being still accessible, retains its value."
"Exactly. And to be perfectly frank with you, Shirley, I do not want
Cardigan's timber in Township Nine given back its value through
accessibility provided by the N.
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