7/24 Suppose the shareholders ask for an investigation committee ?" "We must refuse," said Cartwright, with quiet firmness. "A frightened committee would probably urge a drastic re-construction scheme, the writing off much of our capital, and perhaps winding up the line. When rates are bad and cargo's scarce, one must take a low price for ships; our liabilities are large, and I imagine selling off would leave us much in debt--" Cartwright paused. He saw his remarks carried weight and knew his co-directors. He would give them a few moments for thought before he finished his argument. |