Maxwell Grant
The Key
CHAPTER I
HALF A MILLION
“HALF a million dollars!”
The speaker, a bluff-faced man with angry eyes, brought his fist upon the table with an emphatic stroke. The action brought solemn looks from the others gathered in the conference room. Silence followed.
“A paltry half million!” With this surprising modification of his first statement, the bluff-faced man arose to tower above his companions at the table. “Upon that sum depends the success of our entire enterprise. Mind you, gentlemen, investments of more than fifty millions are at stake unless we can acquire that money!”
New silence. Perplexed, troubled looks appeared upon the faces of the executives who were gathered at the table. The bluff-faced man studied his companions. He noted that certain latecomers to the conference were looking for an explanation. He gave it.
“Let me repeat the situation,” declared the speaker. “I, Charles Curshing, am president of the Dilgin Refining Corporation. Our company and its subsidiaries are engaged in destructive competition with the Crux Oil Company. If this fight keeps on, one concern is bound to fail; and the finish of the conflict will inevitably draw the other into bankruptcy with it.
“There is only one hope of avoiding this catastrophe. That is for us, the directors of the Dilgin Corporation, to acquire a controlling interest in the Crux Company within the next sixty days. Such action will preserve both concerns; but we must not sacrifice any of our present holdings.
“We require a total of ten million dollars to swing the deal. By pressing every available spring, I have arranged to obtain to within a half million dollars of that sum. The limit has been reached. Unless we can manipulate the half million, my efforts will be to no avail. We will be unable to negotiate for Crux control before the deadline has been reached.”
“How about Torrence Dilgin?”
The inquiry came from a man near the foot of the conference table. It brought a grim smile from Charles Curshing. Leaning forward on the table, the president spoke in a confidential tone.
“Torrence Dilgin,” he stated, “is a wealthy man. He was the founder of our corporation. Retired, he is living in Rio de Janeiro. It would be logical to suppose that Torrence Dilgin would aid us in this crisis. It is also natural that I would have looked to him for such assistance.
“I communicated with Torrence Dilgin. I did not over-emphasize the present situation, because I did not choose to alarm him. Torrence Dilgin is past eighty, gentlemen. He is enjoying the twilight of his career. This grand old man responded to my cautious inquiry. His letter told me that his estate is in the keeping of a New York attorney, who is with us here tonight. Let me introduce him: Lester Dorrington.”
DIRECTORS shifted in their chairs as a tall, cadaverous man arose at the side of the table. Lester Dorrington was a prominent New York attorney; one noted for his skill in handling criminal cases. It was something of a surprise to learn that Dorrington, who specialized in defending men charged with heavy crimes, was the attorney whom old Torrence Dilgin had chosen as manager of his estate.
There was magnetism in Dorrington’s personality. Keen eyes gave light to a face that was almost expressionless. A man of fifty odd years, Dorrington had gained the steady persuasion that characterizes the successful criminal lawyer. Though his manner was quiet, it brought a dominating effect. The conference room was hushed as this pallid, cold-lipped attorney bowed in response to the chairman’s introduction.
“Upon his retirement from active business,” announced Dorrington, “Torrence Dilgin conferred upon me the honor and trust of handling his affairs. I have followed his instructions to the full. His will is in my keeping.
“This crisis in the affairs of the Dilgin Corporation has brought an inquiry regarding the total amount of Torrence Dilgin’s holdings. Despite the fact that your president, Charles Curshing, has summoned me here at Torrence Dilgin’s order, there are certain privileges which I must exert as custodian of Torrence Dilgin’s private possessions.
“I cannot, for instance, announce the size of Torrence Dilgin’s estate. That would be unfair to my client. I can, however, state the nature of his assets. Gentlemen, Torrence Dilgin’s estate consists entirely of stock in Dilgin Corporation and associated enterprises, with the exception of certain trust funds that cannot be touched.
“Mr. Curshing has stated that it would be unwise to utilize any Dilgin Corporation securities in the acquisition of the needed half million. His point is well chosen: any use of such stocks would injure the standing of your enterprises. Mr. Curshing’s own decision automatically makes it impossible for Torrence Dilgin to aid you with half a million dollars.”
Pained hush resumed sway when Dorrington ceased speaking. The tall lawyer sat down, his face expressionless as before. The last ray of hope had flickered. It was Curshing, however, who revived it.
“One possibility remains,” stated the corporation president. “Mr. Dorrington has given us a clear statement of Torrence Dilgin’s holdings. We know that Torrence Dilgin is living upon the interest from his investments in Dilgin Corporation.
“Torrence Dilgin, therefore, has as much to lose as any of us — more in fact — should Dilgin Corporation fail. If he is properly informed of this crisis, he will certainly rally to our aid, if possible.”
“But his holdings are frozen,” came an objection. “According to Mr. Dorrington—”
“Mr. Dorrington,” interposed Curshing, “has spoken only of Torrence Dilgin’s known assets. Why should we presume that the grand old man now in Rio de Janeiro has placed all of his holdings in Mr. Dorrington’s keeping? Torrence Dilgin was a financial genius. It was never his policy to carry eggs in a single basket—”
Curshing paused. A buzz of acknowledgment was coming from the directors. The corporation president had hit home. All could visualize the possibility. Torrence Dilgin — multimillionaire — might well have some large amount of money tucked aside for old-age emergency.
The buzz subsided as Curshing raised his hands for silence. Dorrington, his own statement ended, was sitting like a statue. On the opposite side of the table, however, was a keen-faced, middle-aged man whose dark eyes were staring toward Curshing from beneath close-knot brows. It was to this individual that Curshing turned.
“Gentlemen,” suggested the president, “let us hear from our own attorney, Edwin Berlett.”
THE heavy-browed man arose. Stocky, of middle height, his face square and dark-skinned, Edwin Berlett was a man of action. As a lawyer, he formed a marked contrast to Lester Dorrington, whom he faced. There was a tinge of irony in his voice.
“Gentlemen,” said Berlett, firmly, “I represent the Dilgin Corporation. I owe much to Torrence Dilgin. He and I were close friends. Mr. Curshing is right. Torrence Dilgin did not carry his eggs in one basket.
“For instance: he raised me to the position of attorney for the Dilgin Corporation. But when he came to arrange his private affairs, he chose a man whose selection came as a surprise to me, namely: Lester Dorrington.
“Such was always Torrence Dilgin’s way, so far as people were concerned. But Torrence Dilgin has another peculiarity. When he trusts any person, he does so to the full extent. Having chosen Dorrington as his own attorney, he would give him entire capacity to act. Therefore, I feel positive that Dorrington has given us a statement of all the assets which Torrence Dilgin possesses. In my opinion, it would be useless to approach Torrence Dilgin for aid.”
“You’re wrong, Berlett!” The challenge came from Curshing. “The very fact that Dorrington was chosen out of a clear sky to handle Torrence Dilgin’s estate shows that there may be more to this matter.