He's lost heavily by some of the recent failures,
and there's been a terrible shrinkage in his values.
I don't mean merely in the stock of paint on hand, but in
a kind of competition which has become very threatening.
You know about that West Virginian paint?"
Corey nodded.
"Well, he tells me that they've struck a vein of natural gas
out there which will enable them to make as good a paint
as his own at a cost of manufacturing so low that they can
undersell him everywhere. If this proves to be the case,
it will not only drive his paint out of the market,
but will reduce the value of his Works--the whole plant--at
Lapham to a merely nominal figure."
"I see," said Corey dejectedly. "I've understood that he
had put a great deal of money into his Works."
"Yes, and he estimated his mine there at a high figure.
Of course it will be worth little or nothing if the West
Virginia paint drives his out. Then, besides, Lapham has
been into several things outside of his own business,
and, like a good many other men who try outside things,
he's kept account of them himself; and he's all mixed
up about them. He's asked me to look into his affairs
with him, and I've promised to do so. Whether he can
be tided over his difficulties remains to be seen.
I'm afraid it will take a good deal of money to do it--a
great deal more than he thinks, at least.
Pages:
409
410
411
412
413
414
415
416
417
418
419
420
421
422
423
424
425
426
427
428
429
430
431
432
433