CHAPTER XVI.
COMPANY BUSINESS.
After the selection of the Directors, all of whom accepted their appointments with great readiness, although, with the exception of Tom Selden, none of them had known anything about the company until informed by Harry of their connection with its management, it remained only to get subscriptions to the capital stock, and then the construction of the line might immediately begin.
Harry and Kate made out a statement of the probable expense, and a very good statement it was, for, as Harry had said, he had thoroughly studied up the matter, aided by the counsel of Mr.Lyons, the operator at Hetertown.
This statement, with the probable profits and the great advantages of such a line, was written out by Harry, and the Secretary, considering all clerical work to be her especial business, made six fair copies, one of which was delivered to each of the Board of Directors, who undertook to solicit subscriptions.
A brief constitution was drawn up, and by a clause in this instrument, one-quarter of the profits were to go to the stockholders and the rest to Aunt Matilda.
The mica-mine men, when visited by Harry, who carried a letter from his father, at first gave the subject but little consideration, but after they found how earnest Harry was in regard to the matter and how, thoroughly he had studied up the subject, theoretically and practically, under the tuition of his friend, Mr.Lyons, they began to think that possibly the scheme might prove of advantage to them.
After a good deal of talk--enough to have settled much more important business--they agreed to take stock in the telegraph company, provided Harry and his Board purchased first-class instruments and appliances.
Their idea in insisting upon this was the suggestion of their manager, that if the boys failed in their project they might get possession of the line and work it themselves.

Consequently, with a view both to the present success of the association and their own possible acquisition of the line, they insisted on first-class instruments.
This determination discouraged Harry and his friends, for they had not calculated upon making the comparatively large expenditures necessary to procure these first-class instruments.
They had thought to buy some cheap but effective apparatus of which they had heard, and which, for amateur purposes, answered very well.
But when the mica-mine officers agreed to contribute a sum in proportion to the increased capital demanded, Harry became quite hopeful, and the other members of the Board agreed that they had better work harder and do the thing right while they were about it.
The capital of the company was fixed at one hundred and fifty dollars, and to this the mica-mine people agreed to subscribe fifty dollars.

They also gave a written promise to give all the business of that kind that they might have for a year from date, to Harry and his associates, provided that the telegraphic service should always be performed promptly and to their satisfaction.
A contract, fixing rates, etc., was drawn up, and Harry, the Directors, the Secretary, and the Treasurer, all and severally signed it.

This was not actually necessary, but these officers, quite naturally, were desirous of doing all the signing that came in their way.
Private subscriptions came in more slowly.

Mr.Loudon gave fifteen dollars, and Dr.Price contributed ten, as his son was a Director.