He greeted Montague cordially, and talked for a few minutes about the state of the market, and the business situation, in the meantime twirling a pencil in his hand and watching his visitor narrowly.  At last he began, “Mr. Montague, I have for some time been working over a plan which I think will interest you.”

“I shall be very pleased to hear of it,” said Montague.

“Of course, you know,” said Ryder, “that I bought from Mrs. Taylor her holdings in the Northern Mississippi Railroad.  I bought them because I was of the opinion that the road ought to be developed, and I believed that I could induce someone to take the matter up.  I have found the right parties, I think, and the plans are now being worked out.”

“Indeed,” said the other, with interest.

“The idea, Mr. Montague, is to extend the railroad according to the old plan, with which you are familiar.  Before we took the matter up, we approached the holders of the remainder of the stock, most of whom, I suppose, are known to you.  We made them, through our agents, a proposition to buy their stock at what we considered a fair price; and we have purchased about five thousand shares additional.  The prices quoted on the balance were more than we cared to pay, in consideration of the very great cost of the improvements we proposed to undertake.  Our idea is now to make a new proposition to these other shareholders.  The annual stockholders’ meeting takes place next month.  At this meeting will be brought up the project for the issue of twenty thousand additional shares, with the understanding that as much of this new stock as is not taken by the present shareholders is to go to us.  As I assume that few of them will take their allotments, that will give us control of the road; you can understand, of course, that our syndicate would not undertake the venture unless it could obtain control.”

Montague nodded his assent to this.

“At this meeting,” said Ryder, “we shall propose a ticket of our own for the new board of directors.  We are in hopes that as our proposition will be in the interest of every stockholder, this ticket will be elected.  We believe that the road needs a new policy, and a new management entirely; if a majority of the stockholders can be brought to our point of view, we shall take control, and put in a new president.”

Ryder paused for a moment, to let this information sink into his auditor’s mind; then, fixing his gaze upon him narrowly, he continued:  “What I wished to see you about, Mr. Montague, was to make you a proposal to assist us in putting through this project.  We should like you, in the first place, to act as our representative, in consultation with our regular attorneys.  We should like you to interview privately the stockholders of the road, and explain to them our projects, and vouch for our good intentions.  If you can see your way to undertake this work for us, we should be glad to place you upon the proposed board of directors; and as soon as we have matters in our hands, we should ask you to become president of the road.”