“You can get an extension of time, can’t you?” asked Tom.

“We can—–­not!  You see, boys, the S.B. & L. is the popular road.  That is, it’s the one that the people of this state backed in the main.  When we got our charter from the legislature there was a lot of opposition from the W.C. & A. railroad.  That organization wishes to add to their road, using the very locations that our preliminary engineering force selected for the S.B. & L. The W.C. & A. folks have such a bewildering number of millions at their back that they would have won away from us, had they been an American crowd.  The W.C. & A. has only American officers and a few small stockholders in this country.  The W.C. & A. is a foreign crowd throughout in reality, and back of them they have about all the money that’s loose in London, Paris and Berlin.  The W.C. & A. spent a lot of money at the state capital, I guess, for it was common report that some of the members of the legislature had sold out to the foreign crowd.  So, though public clamor carried our charter through the legislature by sheer force, the best concession we could get was that our road must be built and in operation over the entire length by September 30th, or the state has the privilege of taking over our road at an appraised value.  Do you see what that means?”

“Does it mean that the state would then turn around and sell this road to the W.C. & A. at a good profit?” asked Reade.

“You’ve hit it,” nodded Mr. Blaisdell.  “The W.C. & A. would be delighted to take over our road at a price paid to the state that would give Colorado quite a few millions in profits.  The legislature would then have a chance to spend those millions on public improvements in the state.  I think you will understand why public clamor now seems to have swung about in favor of the W.C.& A.”

“Yet it seems to me,” put in Harry, “that, even if the S.B. & L. does fail to get the railroad through in time, the stockholders will get their money back when the state takes the road over.”

“That, one can never count on,” retorted Blaisdell, shaking his head.  “The state courts would have charge of the appraising of the value of the road, and one can never tell just what courts will award.  Ten chances to one the appraisal wouldn’t cover more than fifty per cent. of what the S.B. & L. has expended, and thus our company would be many millions of dollars out of pocket.  Besides, if the courts could be depended upon to appraise this uncompleted road at twenty per cent. more than has been expended upon it, our company would still lose, for what the S.B. & L. really expects to do is to bag the big profits that can be made out of the section of the state that this road taps.  Take it from me, boys, the officials of this road are crazy with anxiety to get the road through in time, and not lose the many millions that are waiting to be earned by the S.B. & L. getting this road through is all that Tim Thurston dreams of, by night or day.  His reputation—–­and he has a big one in railroad building—–­is wholly at stake on his carrying this job through.  It’ll be a big prize for all of us, professionally, if we can back Thurston’s fight to win.”