Legacy (36 page)

He tried to retort. When I overrode him, he glared, but he remained in his seat.

'Now, gentlemen, you may be wondering how I can afford to pay Mr.Elliot, and, if I can, why I continue to tolerate his rudeness. Well, there are two answers to that, which I shall explain. No doubt you have already thought of the first yourselves: my father did have the foresight to take out a substantial insurance policy on his life. He neglected to list that policy among his assets in those books that you know about.'

I paused. What I said about the insurance policy was quite true. We would have a note for twenty-five thousand dollars from the Lumberman's Mutual within the next two days. Judge Hawthorne had assured me of this. With that, and with the cash I had been preparing to pay as interest to Mr. Elliot, I would be able to pay his loan without selling more than a few shares of the various local companies that we held stock in.

'Of course, if all of you were to demand payment, as you know, that would be quite another matter. I would have no choice but to sell all our family holdings, quickly, and probably for a good deal less than their proper worth. No doubt, also, the banks that you gentlemen represent would be most interested in bidding on those properties, since many of them are of a very substantial value.'

I leaned forward and tapped the piles of bills stacked before me. Then I walked around to the front of the table, speaking as I went. 'I have asked you to come here today in order to show you why such a course of action would prove costly for your banks, and for your own personal reputations, also, if that course were to be followed on your own advice.'

I indicated the money behind me. 'Here, gentlemen, is money: fifty-dollar bills, representing two years' interest for each of your loans. If you extend the loans, the money goes to you. Now, with all my bank accounts frozen by law, where did I manage to acquire forty-five hundred dollars in cash? I shall be frank with you. After my father's funeral, I went by train to New York City. There I have a number of friends from my days in college, many of them from families of great wealth. For obvious reasons I shall not be divulging the name of the family that has helped me, but I can tell you that I have spoken to only one of my friends as yet. There are many more, many of whom I am sure would be more than willing to back me.'

This was not quite the truth, but it would do. Actually, I had not even mentioned needing money when I had called on Lisa two days earlier. The money had come from a number of hardened jewelers in the narrow dark shops off Broadway. There I had taken Mother's emeralds, with her blessing, of course, and every last piece of the other jewelry we had in the house. We could buy more later, she had said, and in the meantime we could use copies. So in those grimy jewelry shops I had badgered and stood firm, had walked out and been grudgingly called back, and had generally had a full course in the arts of hard bargaining in order to get this money. Well, I was glad for the experience this morning.

'So, you see, you need have no fears that I would be unable to meet regular payments on what is owed you. And you have the added incentive, if you choose to follow my recommendation, of getting your interest money in advance - two years in advance, to be exact. What I am offering you are, of course, better terms now than those you had from my father.'

Mr. Elliot cleared his throat to speak again, but I held up my hand. 'Please, Mr. Elliot. As I said, you are free to speak with me later if you wish to discuss terms. But the major question is not about the loan, which would make your banks some profit. You think you can make more profits by snapping up our mills and our lumber camps and hotels and the rest at bargain prices. Probably you have even discussed ways to, shall we say, "co-operate" on the bidding if there were to be a bankruptcy settlement and sheriffs auction.'

I looked at them, one by one, in their seats as I spoke and had the satisfaction of seeing both Mr.Turner and Mr.Otto avoid my gaze with guilty embarrassment.

'Once you bought those properties, though, gentlemen, then what would you do? Run them yourselves? Hire managers to run them for you? That involves great expense, and what I want to show you is that trying to take on a portion of the Rawlings properties would be a very expensive proposition for you, indeed.'

I opened a drawer of the table and brought out a large leather binder, which I opened to reveal several hundred pieces of paper of varying sizes and shapes. 'I want you to look at these notes. As you may be aware, Sam Rawlings had a soft spot in his heart when it came to lending money to friends or employees. He hardly ever refused. Here are the outstanding notes that you see here, but I can assure you that many more than this have been paid off and returned. Do they amount to much? Not in comparison to the business properties. They're mainly for houses, furnishings, tools - the things people need to get a good foothold. Together they don't amount to more than fifty-thousand dollars, and the largest one here is this one for Frank Howard's house, fifteen hundred dollars.

'But think of the amount of loyalty represented here by these notes. Here arc nearly three hundred families that my father helped - and more than half of them are working somewhere on Sam Rawlings's properties today. Do you suppose they're going to be as happy to work for whomever buys those properties? How do you think they'll react when the sheriff puts the pressure on them to pay what they now owe - as the sheriff must do, according to the law in a bankruptcy case? Think of the public hostility that you'd generate against your own banks. And if you doubt what I'm saying, you might ask any of the six congressmen and two senators who were speaking with me here four days ago. They'll tell you what the public opinion would be, and you can calculate for yourselves what that would do to the number of depositors you now have. I'm sure your competitors would be pleased to see the results.'

I set the leather binder down on the table. 'But let's suppose you go through with the sheriff's auction, anyway. You'd have one or two pieces of our property and an irate public. You'd also have some key employees who would have a grudge against you, the new owners. Father loaned to the good men who worked for him; the slackers didn't get close enough to ask. Those good men can help the operation if they're loyal, and they can hurt it badly if they're not.'

I paused and looked each of them straight in the eye again. 'I needn't tell you that sabotage in the lumber business is always a threat. And if you think that you could simply fire any man who appears to be loyal to Father's memory, let me just remind you that that man could easily get a place with our competition. And he'd take his knowledge of our weaknesses right along with him.'

Mr.Elliot was on his feet, his sour face looking meaner than ever. 'I've heard enough. You think you can scare us? Think again.' He stepped forward, sneering at me. 'I'm calling your bluff, Miss Rawlings. Philadelphia First will expect full payment by the end of the week, or we will immediately file in the courts for a sheriff's auction and settlement. And I hope every one of you others' - here he turned to look at the rest, who were still sitting - 'will have enough sense to follow my example.'

With that he turned and walked out of the room, leaving the parlor doors open.

'Well, gentlemen, you heard Mr. Elliot's opinion. Perhaps he does not expect many public repercussions to travel as far as Philadelphia in the event that you all take his advice. But I would urge you to consider your own situations rather than his. Compare your certain profit' - here I placed my hands again on the stacks of bills - 'with the risk and expense involved. Knowing the loyalty of Father's men as I do, I should estimate that within six months after you bought one of our properties at auction, the value would have declined even below what you had paid for it.'

I looked at each of them again. 'So the choice is yours, gentlemen. Do you have any questions?'

A few murmurs and glances were exchanged, and then after a moment or two the pink-faced Mr. Turner stood up. Speaking with more dignity than I had expected, he said, 'I think, Miss Rawlings, that the Juniata Bank will be pleased to extend your loan under the conditions you have described. As soon as I can arrange for the proper security to transfer the money, I shall be back to sign the receipt.'

Despite my determination to remain calm and businesslike, I felt a tightness in my throat. As I stepped forward to shake his outstretched hand, my knees felt a bit unsteady. The relief must have shown in my face, for Mr.Turner's blue eyes began to twinkle in a protective, almost grandfatherly, way. He smiled, clasping my hand in both of his and pumping my arm up and down. 'And may I say that I think you've performed brilliantly this morning! I have not the slightest doubt that you will take the Rawlings family fortunes to new heights.'

Mr. Turner was interrupted when Mr. Mawson, tall, grey-haired, and raMr.od-straight, came up and good-naturedly put his arm around the smaller man. "Scuse me, Jack,' he said, giving Turner's shoulder a healthy squeeze, 'we can't let you have her all to yourself! Miss Rawlings, it will be a pleasure doing business with you, and if you ever want to talk about extending your credit, I hope you'll remember Montour Federated.'

And then the rest of them were crowding around me in a pleased and congenial swirl of conversation. Otto would have to confirm with other bank officers, he said, but the others were just as certain as Turner and Mawson had been. I had won! I felt almost light-headed at my sudden success. These formerly cold men were now friendly and jovial, chatting amiably about stocks and dividends and the appreciation in local real estate as though they saw nothing but high hopes and bright promise ahead for the family properties. I had won!

When the last of them had walked down the hall, where Jared was ready with their coats, I still felt exuberant. Behind me stood Billy Joe, relaxed now and smiling broadly. I turned to face him. 'We did it, didn't we?' I said. 'Lots of work ahead, but we've made a good beginning.'

His eyes shone. 'Good? Just good? Why, you tore into them stuffed shirts the way a ripsaw cuts pine! I said all along that none of 'em had a chance!'

He clasped his large hands together in delight and then held out his right hand in a gesture of congratulations. 'I just want to say, ma'am, that it's been a real pleasure workin' for you. I always knew you were somethin' special, but now I see you're even more than what I . . . '

'Oh, come now, Billy Joe.' I shook his hand, my own feeling absurdly small in comparison. I patted him on his brawny arm. 'You're talking as though we were home free by now. This is only the beginning! We've got a long way to go before we're out of the woods. We can't spend too much time congratulating ourselves, even though I do have to admit that our trip to New York was time well spent.'

'Oh, well, I know that's true,' he said, looking away. 'Just that I guess after today, after those fellas come back for their money, you aren't gonna have too much use for a ... a security guard anymore around here. So, what I mean to say is, I guess I oughta be gettin' back up the river to the lumber camp, where I belong.'

'Wait a minute, Billy Joe. Are you telling me that you don't like working here in Grampian? You'd rather go back to the camp?'

His big forefinger tugged at the inside of his starched collar. 'No, ma'am. What I mean to say . . . it's just that... I don't want you to think I'm expectin' any more easy work, travellin' and so on, just on account of helpin' you get home last week. I aim to work for my pay.'

I thought for a moment. Then I explained that I wanted Billy Joe to help with the security protection around all of the Rawlings properties. As soon as the word spread that a woman was running things, I was bound to be tested. And I wanted to be ready. After some discussion, we agreed that Billy Joe would supervise all security arrangements and report directly to me about who was and was not cooperating. He said he would 'need some gettin' used to' working in a collar and tie on a regular basis, but he sounded proud to accept the job. I was glad. Just the sight of him as our security chief would be enough to make my competitors think twice before they tried to damage us with any more sabotage.

I was still congratulating myself on this sensible use of Billy Joe's capabilities later that afternoon when I went to see Judge Hawthorne with the signed receipts from the five of our six creditors who had promised to extend our loans.

The judge's face crinkled up in a big smile when he saw what I had brought. 'I'll be dad-burned if you didn't do it! What an amazing young woman you are! What in the world did you say to those fellas, and how the devil did you get hold of this much money?'

'Let's just say, Judge, that I have friends, and that I managed to get all but one of those bankers to see reason.'