— No but see that’s the thing because like even if they buy it off you for way under this book value of what it’s worth see then they get this here real bargain and you get to subtract what they pay you from that and you get this whole other bunch of tax credits see which then you can…
— Look can’t you understand? Just because you read about these things it doesn’t mean you can just step in there and do them even if you could, you can’t even if you could, you…
— How come?
— Because these are real people up there that’s how come! A lot of them who owned the stock still can’t believe it’s not worth anything and even the ones who owned bonds, a lot of them are old and when they first bought the bonds it was almost like they were lending money to, to someone in the family. And the ones who work there, even if you could sell their ballfield and put their offices in the mills how long do you think they’d…
— No but look hey I mean holy, I mean this isn’t any popularity contest hey. Besides what could they do?
— Well they could, they could quit they could…
— Okay well then see we wouldn’t have to fire anybody because that’s mostly what costs so much anyway is all these here people, you know? See because if we could like get them out of there and get this here new machinery I read this thing where you get this new machinery which then you divide how long will it take to wear out into how much did it cost you which then you get to take that off taxes too see? Only the neat thing is see they let you like pretend it’s going to wear out two or three times as fast so you’re getting this big bunch of tax credits right off, they call it depreciated acceleration or something only the thing is you can’t do it with people see so…
— Depreciated acceleration, you don’t know what it means it doesn’t mean anything, you…
— So why should I have to know exactly what it means? The contents of the portfolio came dumped abruptly to the radiator top — I mean why should we pay this here lawyer to know something if we already know it? and he stooped to the floor for an envelope smudged with penciled notes.
— Did you send away for him too?
— Didn’t I tell you how we got him hey? See when I thought we might get screwed on…
— And will you stop saying we? I wasn’t even…
— I know, I forgot to tell you how we got him, see I just read all these job ads in the Times till I found one of this company which sounded real professional see so I copied it and put in my box number instead, this here Mister Piscator didn’t you get this letter from him? Because this is just this here carbon copy he sent me of it when I told him on the telephone he should write all this stuff to you at the office because you were handling it there for me like this branch, you know? So when he says he can get all these figures on Eagle Mills off their accountants for those ideas you got me off that smartass broker with all the heads which hey I meant to tell you, you know he said I’d never see a nickel on this Alberta and Western debenture? Well right after they put out another one called series C I got this here interest payment on series B if he’s so smart. And like he told you Ace was like toilet paper the price of it just doubled right after this progress report that said they expect to pay this dividend and they offered me twenty cents a share which I only paid like ten for so I got this whole bunch more, I mean I’d like to know how many stocks he’s got which their price doubles that quick boy. Anyway you didn’t bring this here letter from Piscator?
— No I didn’t even…
— Okay that’s okay because I got this here copy, see so anyway remember where he says all this stuff about generating cash and leasebacks and hey look, see? Where it says accelerated depreciation? When I just said that you said it didn’t mean anything?
— Well that’s not what you said, you said…
— I did too, I said…
— No you didn’t, you said something like…
— I did too.
— You… Somewhere behind him a toilet flushed. — Look, all of this is just…
— No no okay don’t get mad, I mean look remember here where he says from premil, preliminary figures their net worth is in the neighborhood of eight hundred twenty-six mil, wait where’s the dot, thousand rather, thousand dollars of which an estimated six hundred forty thousand dollars is in the net property account which once he sees these tax assessments and stuff you were supposed to get off Hopper…
— This is what I’ve been trying to give you for the last five minutes, here. Now will you…
— Hey is this stuff about this pension fund in here too hey? He tore open the soiled manila envelope — see because if Eagle Mills is so old this here pension fund ought to be real old too see so…
— Wait till you see your employees.
— What do you mean?
— I mean did it ever occur to you that a lot of them might be getting real old along with everything else?
— So what.
— So instead of accelerated depreciation and a whole bunch of tax credits they’re almost ready to retire and draw their pensions, what do you think a pension fund is for.
— Oh yeah… he wedged a sneaker into the radiator to shape a precarious lap where he shook out the papers, — I didn’t think of that, see because we have to work something to like pry loose some cash like Piscator says here so we can…
— Stop it look what kind of a lawyer do you expect to get in the mail anyhow, these people who’ve worked all their lives for miserable wages so they can finally retire on a miserable pension and this, this Piscator thinks you can take that too?
— No wait hey, see that’s not the…
— I don’t want to hear it, just let me settle these expenses and get out of the whole idiotic…
— No but wait a second hey, I mean who’s taking it off them? Because like what good is this here pension fund doing just sitting there if we can like put it to work for them to get this here acquisition, you know?
— No and I don’t…
— Right here on the next page where he says about getting this acquisition of this here brewery.
— There’s no brewery it’s a textile mill, now look here’s the list of expenses I…
— No it’s this acquisition of it off these two old brothers in wait a second, Wisconsin or Minneapolis or someplace…
— No now stop, just stop for a minute! This, this whole thing has to stop somewhere don’t you understand that?
— No but holy, I mean that’s the whole thing Bast otherwise what good is this neat tax loss carryforward and all these here tax credits and all, I mean that’s all Eagle is and see where Piscator says here Eagle probably has this here limited charter so they can’t buy this brewery but if the pension fund could like buy the brewery stock and the dividends could go right in it and cut down what the company has to put in see then we…
— Stop it! Look aren’t things in enough of a mess with a broken down textile mill without getting into a broken down brewery?
— What do you mean broken down! I mean holy, I mean you sound like you didn’t hardly read this at all I mean they have these earnings of like a million dollars a year look, and where it says two million dollars in excess working capital see? where the asking price is five, seven two six, one three…
— But five that’s, look that’s five million, that’s five million dollars! It’s just, even if it wasn’t just numbers on paper do you think there’s five million dollars in the whole town of Union Falls?
— I know see that’s why we have to work some deal where it isn’t all cash because like if we…
— All right look, look if somebody had something with two dollars already in it and it earned a dollar a week why would he want to sell it for five dollars? In three weeks you…