Explore "The Making of Bobby Burnit" by George Randolph Chester on Textopian. Read with annotations and highlights.
The report of Mr. Johnson and Mr. Chalmers upon the Brightlight Electric Company was a complicated affair, but, upon the whole, highly favorable. It was an old establishment, the first electric company that had been formed in the city, and it held, besides some minor concessions, an ancient franchise for the exclusive supply of twelve of the richest down-town blocks, this franchise, made by a generous board of city fathers, still having twenty years to run. The concern's equipment was old and much of it needed renewal, but its financial affairs were in good shape, except for a mortgage of a hundred thousand dollars held by one J. W. Williams.
"About this mortgage," Mr. Chalmers advised Mr. Burnit; "its time limit expires within two months, and I have no doubt that is why Sharpe wants to put additional capital into the concern. Moreover, Williams is notoriously reputed a lieutenant of Sam Stone's, and it is quite probable that Stone is the real holder of the mortgage."