This also Switzer had considered, and the result of his consideration was before them in a detailed scheme.

By this scheme a local company was to be organised with a capitalisation of $500,000, which would be sufficient to begin with.

Of this amount $200,000 should be assigned to the treasury, the remaining $300,000 disposed of as follows: to Mr.
Gwynne, as owner of the mine, should be allotted $151,000 stock, thus giving him control; the remaining $149,000 stock should be placed locally.

The proposition contained an offer from Switzer to organise the company and to place the stock, in consideration for which service he asked a block of stock such as the directors should agree upon, and further that he should be secretary of the company for a term of five years at a salary of $2,000 per annum, which should be a first charge upon the returns from the mine.
"Ernest insists on being secretary ?" said Nora.
"Yes, naturally.

His interests are all here.