"But they seem to be almost worthless," George objected.
"Perhaps I had better go into the matter fully," said Singleton. "I'll do so on the understanding that what I'm about to tell you reaches nobody else."
George looked at West, who nodded.
"Well," explained Singleton, "I've come over on a flying visit about this rubber business. The original company—the one in which you hold shares—was got up mainly with the idea of profiting by the rather reckless general buying of such stock. Its tropical possessions were badly managed, though a little good rubber was shipped, and when prices reached their highest point Mr. Lansing sold out."
"If he had sold my shares at the same time, there should have been a satisfactory margin?"
"Undoubtedly. Extensive selling, however, shakes the confidence of speculators, and a man desirous of unloading would accordingly prefer everybody else to hold on."
"I think I am beginning to understand now," George said grimly.
"Then," Singleton went on, "a new company was projected by the promoters of the first one, and I was sent out to report on its prospects. At the last moment Mr. Lansing withdrew, but his associates sent me south again. The slump he had foreseen came; nobody wanted rubber shares in any but firmly established and prosperous companies. Lansing had cleared out in time and left his colleagues to face a crushing loss."
"I don't see how all this bears upon the subject," George interrupted.
"Wait. You may be thankful Lansing didn't sell your shares. I found that the company could be placed upon a paying basis, and, what is more, that the older one possessed resources its promoters had never suspected. In fact, I discovered how its output could be greatly increased at an insignificant cost. I came home at once with a scheme which has been adopted, and I've every reason to believe that there will be marked rise in the shares before long. Anyway, there's no doubt that the company will be able to place high-class rubber on the market at a cost which will leave a very satisfactory margin."