“I happen to know that they haven’t got much money behind them,” urged Lapham. “They’ll jump at an offer.”
Bellingham shook his head. “If they can show profit on the old manufacture, and prove they can make their paint still cheaper and better hereafter, they can have all the money they want. And it will be very difficult for you to raise it if you’re threatened by them. With that competition, you know what your plant at Lapham would be worth, and what the shrinkage on your manufactured stock would be. Better sell out to them,” he concluded, “if they will buy.”
“There ain’t money enough in this country to buy out my paint,” said Lapham, buttoning up his coat in a quiver of resentment. “Good afternoon, sir.” Men are but grown-up boys after all. Bellingham watched this perversely proud and obstinate child fling petulantly out of his door, and felt a sympathy for him which was as truly kind as it was helpless.
But Lapham was beginning to see through Bellingham, as he believed. Bellingham was, in his way, part of that conspiracy by which Lapham’s creditors were trying to drive him to the wall. More than ever now he was glad that he had nothing to do with that cold-hearted, self-conceited race, and that the favours so far were all from his side. He was more than ever determined to show them, every one of them, high and low, that he and his children could get along without them, and prosper and triumph without them. He said to himself that if Penelope were engaged to Corey that very minute, he would make her break with him.
He knew what he should do now, and he was going to do it without loss of time. He was going on to New York to see those West Virginia people; they had their principal office there, and he intended to get at their ideas, and then he intended to make them an offer. He managed this business better than could possibly have been expected of a man in his impassioned mood. But when it came really to business, his practical instincts, alert and wary, came to his aid against the passions that lay in wait to betray after they ceased to dominate him. He found the West Virginians full of zeal and hope, but in ten minutes he knew that they had not yet tested their strength in the money market, and had not ascertained how much or how little capital they could command. Lapham himself, if he had had so much, would not have hesitated to put a million dollars into their business. He saw, as they did not see, that they had the game in their own hands, and that if they could raise the money to extend their business, they could ruin him. It was only a question of time, and he was on the ground first. He frankly proposed a union of their interests. He admitted that they had a good thing, and that he should have to fight them hard; but he meant to fight them to the death unless they could come to some sort of terms. Now, the question was whether they had better go on and make a heavy loss for both sides by competition, or whether they had better form a partnership to run both paints and command the whole market. Lapham made them three propositions, each of which was fair and open: to sell out to them altogether; to buy them out altogether; to join facilities and forces with them, and go on in an invulnerable alliance. Let them name a figure at which they would buy, a figure at which they would sell, a figure at which they would combine—or, in other words, the amount of capital they needed.
They talked all day, going out to lunch together at the Astor House, and sitting with their knees against the counter on a row of stools before it for fifteen minutes of reflection and deglutition, with their hats on, and then returning to the basement from which they emerged. The West Virginia company’s name was lettered in gilt on the wide low window, and its paint, in the form of ore, burnt, and mixed, formed a display on the window shelf. Lapham examined it and praised it; from time to time they all recurred to it together; they sent out for some of Lapham’s paint and compared it, the West Virginians admitting its former superiority. They were young fellows, and country persons, like Lapham, by origin, and they looked out with the same amused, undaunted provincial eyes at the myriad metropolitan legs passing on the pavement above the level of their window. He got on well with them. At last, they said what they would do. They said it was nonsense to talk of buying Lapham out, for they had not the money; and as for selling out, they would not do it, for they knew they had a big thing. But they would as soon use his capital to develop it as anybody else’s, and if he could put in a certain sum for this purpose, they would go in with him. He should run the works at Lapham and manage the business in Boston, and they would run the works at Kanawha Falls and manage the business in New York. The two brothers with whom Lapham talked named their figure, subject to the approval of another brother at Kanawha Falls, to whom they would write, and who would telegraph his answer, so that Lapham could have it inside of three days. But they felt perfectly sure that he would approve; and Lapham started back on the eleven o’clock train with an elation that gradually left him as he drew near Boston, where the difficulties of raising this sum were to be overcome. It seemed to him, then, that those fellows had put it up on him pretty steep, but he owned to himself that
