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the transactions。
It will be remembered that at the time1878Orde first came in
need of money for the purpose of buying the California timber; the
firm; Newmark and Orde; owned in the northern peninsula 300;000;000
feet of pine。 On this they had paid 150;000; and owed still a like
amount。 They borrowed 75;000 on it; giving a note secured by
mortgage due in 1883。 Orde took this; giving in return his note
secured by the Boom Company's stock。 In 1879 and 1880 they made the
two final payments on the timber; so that by the latter date they
owned the land free of encumbrance save for the mortgage of 75;000。
Since Newmark's plan had always contemplated the eventual
foreclosure of this mortgage; it now became necessary further to
encumber the property。 Otherwise; since a property worth
considerably above 300;000 carried only a 75;000 mortgage; it
would be possible; when the latter came due; to borrow a further sum
on a second mortgage with which to meet the obligations of the
first。 Therefore Newmark; in 1881; approached Orde with the request
that the firm raise 70;000 by means of a second mortgage on the
timber。 This 70;000 he proposed to borrow personally; giving his
note due in 1885 and putting up the same collateral as Orde had
that is to say; his stock in the Boom Company。 To this Orde could
hardly in reason oppose an objection; as it nearly duplicated his
own transaction of 1878。 Newmark therefore; through Heinzman; lent
this sum to himself。
It may now be permitted to forecast events in the line of Newmark's
reasoning。
If his plans should work out; this is what would happen: in 1883 the
firm's note for 75;000 would come due。 Orde would be unable to pay
it。 Therefore at once his stock in the Boom Company would become
the property of Newmark and Orde。 Newmark would profess himself
unable to raise enough from the firm to pay the mortgage。 The
second mortgage from which he had drawn his personal loan would
render it impossible for the firm to raise more money on the land。
A foreclosure would follow。 Through Heinzman; Newmark would buy in。
As he had himself loaned the money to himselfagain through
Heinzmanon the second mortgage; the latter would occasion him no
loss。
The net results of the whole transaction would be: first; that
Newmark would have acquired personally the 300;000;000 feet of
northern peninsula timber; and; second; that Orde's personal share
in the stock company would flow be held in partnership by the two。
Thus; in order to gain so large a stake; it would pay Newmark to
suffer considerable loss jointly with Orde in the induced
misfortunes of the firm。
Incidentally it might be remarked that Newmark; of course; purposed
paying his own note to the firm when it should fall due in 1885;
thus saving for himself the Boom Company stock which he had put up
as collateral。
Affairs stood thus in the autumn before the year the notes would
come due。 The weather had been beautiful。 A perpetual summer
seemed to have embalmed the world in its forgetfulness of times and
seasons。 Navigation remained open through October and into
November。 No severe storms had as yet swept the lakes。 The barge
and her two tows had made one more trip than had been thought
possible。 It had been the intention to lay them up for the winter;
but the weather continued so mild that Orde suggested they be laden
with a consignment for Jones and Mabley; of Chicago。
〃Did intend to ship by rail;〃 said he。 〃They're all 'uppers;' so it
would pay all right。 But we can save all kinds of money by water;
and they ought to skip over there in twelve to fifteen hours。〃
Accordingly; the three vessels were laid alongside the wharves at
the mill; and as fast as possible the selected lumber was passed
into their holds。 Orde departed for the woods to start the cutting
as soon as the first belated snow should fall。
This condition seemed; however; to delay。 During each night it grew
cold。 The leaves; after their blaze and riot of colour; turned
crisp and crackly and brown。 Some of the little; still puddles were
filmed with what was almost; but not quite ice。 A sheen of frost
whitened the house roofs and silvered each separate blade of grass
on the lawns。 But by noon the sun; rising red in the veil of smoke
that hung low in the snappy air; had mellowed the atmosphere until
it lay on the cheek like a caress。 No breath of wind stirred。
Sounds came clearly from a distance。 Long V…shaped flights of geese
swept athwart the sky; very high up; but their honking came faintly
to the ear。 And yet; when the sun; swollen to the great dimensions
of the rising moon; dipped blood…red through the haze; the first
premonitory tingle of cold warned one that the grateful warmth of
the day had been but an illusion of a season that had gone。 This
was not summer; but; in the quaint old phrase; Indian summer; and
its end would be as though the necromancer had waved his wand。
To Newmark; sitting at his desk; reported Captain Floyd of the steam
barge NORTH STAR。
〃All loaded by noon; sir;〃 he said。
Newmark looked up in surprise。
〃Well; why do you tell me?〃 he inquired。
〃I want your orders。〃
〃My orders? Why?〃
〃This is a bad time of year;〃 explained Captain Floyd; 〃and the
storm signal's up。 All the signs are right for a blow。〃
Newmark whirled in his chair。
〃A blow!〃 he cried。 〃What of it? You don't come in every time it
blows; do you?〃
〃You don't know the lakes; sir; at this time of year;〃 insisted
Captain Floyd。
〃Are you afraid?〃 sneered Newmark。
Captain Floyd's countenance burned a dark red。
〃I only want your orders;〃 was all he said。 〃I thought we might
wait to see。〃
〃Then go;〃 snapped Newmark。 〃That lumber must get to the market。
You heard Mr。 Orde's orders to sail as soon as you were loaded。〃
Captain Floyd nodded curtly and went out without further comment。
Newmark arose and looked out of the window。 The sun shone as
balmily soft as ever。 English sparrows twittered and fought
outside。 The warm smell of pine shingles rose from the street。
Only close down to the horizon lurked cold; flat; greasy…looking
clouds; and in the direction of the Government flag…pole he caught
the flash of red from the lazily floating signal。 He was little
weatherwise; and he shook his head sceptically。 Nevertheless it was
a chance; and he took it; as he had taken a great many others。
XXXIV
To Carroll's delight; Orde returned unexpectedly from the woods late
that night。 He was so busy these days that she welcomed any chance
to see him。 Much to his disappointment; Bobby had been taken duck…
hunting by his old friend; Mr。 Kincaid。 Next morning; however; Orde
told Carroll his stay would be short and that his day would be
occupied。
〃I'd take old Prince and get some air;〃 he advised。 〃You're too
much indoors。 Get some friend and drive around。 It's fine and
blowy out; and you'll get some colour in your cheeks。〃
After breakfast Carroll accompanied her husband to the front door。
When they opened it a blast of air rushed in; whirling some dead
leaves with it。
〃I guess the fine weather's over;〃 said Orde; looking up at the sky。
A dull lead colour had succeeded the soft gray of the preceding
balmy days。 The heavens seemed to have settled down closer to the
earth。 A rising wind whistled through the branches of the big maple
trees; snatching the remaining leaves in handfuls and tossing them
into the air。 The tops swayed like whips。 Whirlwinds scurried
among the piles of dead leaves on the lawns; scattering them;
chasing them madly around and around in circles。
〃B…r…r…r!〃 shivered Carroll。 〃Winter's coming。〃
She kept herself busy about the house all the morning; ate her lunch
in solitude。 Outside; the fierce wind; rising in a crescendo
shriek; howled around the eaves。 The day darkened; but no rain
fell。 At last Carroll resolved to take her husband's advice。 She
stopped for Mina Heinzman; and the two walked around to the stable;
where the men harnessed old Prince into the phaeton。
They drove; the wind at their backs; across the drawbridge; past the
ship…yards; and out beyond the mills to the Marsh Road。 There; on
either side the causeway; miles and miles of cat…tails and reeds
bent and recovered under the snatches of the wind。 Here and there
showed glimpses of ponds or little inlets; the surface of the water
ruffled and dark blue。 Occasionally one of these bayous swung in
across the road。 Then the two girls could see plainly the fan…like
cat's…paws skittering here and there as though panic…stricken by the
swooping; invisible monster that pursued them。
Carroll and Mina Heinzman had a good tim