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“This time you were defrauded. Flense made secret sales of the company’s woodlands, lumber barges, warehouse contents.” The accountants implied that the embezzlement was her own fault, that one’s word counted for nothing.

The chief accountant inclined his head a little and said, “Mrs. Breitsprecher, may I recommend you to read Adam Smith? It is a truism that men do only what they are rewarded for doing. Flense received a rather modest salary for his legal work on behalf of the company. And in future keep in mind when doing business with Chicago lawyers—homo homini lupus est—man is a wolf to man.”

They left Duke & Breitsprecher reduced to a skeleton staff and a lean future.

The company staggered and nearly fell. It was hard times nationally: stocks and land values plunged; industrious brooms of change swept out the markets. Men were no longer grateful for work — labor problems and strikes crippled every business, and the forests of the northwest were flash points for rebellious forest workers who preferred better pay to manly poverty. The entire country was in an irascible, sour mood. Lavinia, wanting to rid herself and the company of anything touching on Flense, voted with the remaining Board members to relinquish the incorporation charter. “When Duke was establishing itself as a major logging company we needed capital to build logging railroads, to purchase lumber barges and steamboats, build roads. But all that has changed. Henceforth we will return, although operating on a shoestring, to a sole proprietorship. Aside from all else, incorporation is better suited to canals and turnpikes, railroads and banks, not the timber industry — at least in the position we now find ourselves.” A sense of being savagely cheated colored the atmosphere in the boardroom.

• • •

“Lavinia,” Dieter said as they went over the details of Duke & Breitsprecher’s teetering position, “we will weather this storm. It is true that the company has lost a great deal of its value, but enough remains that we can start over.”

Lavinia could barely speak for rage: “Dieter, my fortune — my lost fortune — came from the bonanza of Maine and Michigan lumber that we cut over the generations. No such rich woodlands exist these days. Flense took my ancestral heritage.” But she exaggerated. Flense had not touched her personal property, had not sold her Chicago land holdings, now worth millions; it was the company assets he had rifled.

“My dear, please listen. The forests of the northwest are even more prodigious than those of Maine or the Great Lakes country. All will be well in a few years if the company builds up its timber acquisition again. And we are free to focus on our conservation policies as never before. We shall make a new reputation, a new name for Duke and Breitsprecher.”

But Lavinia was not consoled. Especially her heart burned at the thought of Annag Duncan’s perfidy. “I trusted her,” she said. “I gave her a job when she had nothing and this is how she repaid me. I cannot understand how she fell into Flense’s grasp.” She clenched and unclenched her hands.

“Lavinia, did you never notice how attentive the lawyer was to her? He praised her cookies, brought her little bouquets, always had a smile and drove her home after long meetings. I believe she was smitten with his attentions. Neither I nor you praised her — we took her for granted — that was Flense’s opportunity.” He rubbed his chin. “And who can know? Perhaps he had an affection for her. She was a rather handsome woman.” As soon as he spoke he knew he should not have said this.

“Indeed!” cried Lavinia in a passion. “I do not think so myself. But oh how I wish I could relive the years and keep a chain on his neck! And hers. However, I will engage Pinkerton’s to look for the guilty parties. I’ll see them in prison.” She composed herself. There was nothing to do but go on. “And you are right, Dieter, the forests of the northwest are rich — if we can only get at the remoter areas. And we still have that kauri forestland in New Zealand.”

“Do you remember our promise to the Ovals not to clean-cut and run away but remove judiciously and replant? I wish now that my experiments with the kauri seeds had flourished, but the soil conditions were inimical.”

Lavinia could not resist her nature and sent orders to cut all the kauri, sparing none. That cut would begin to rebuild her fortune. And Dieter was right, there was still much that remained. Flense had not touched the plywood mills nor the paper mills, and both were drawing in money like dry sponges. They would take advantage of the new technical advances and milling machinery. Duke & Breitsprecher would survive.

• • •

“Our annual inventor’s exposition must continue,” said Lavinia. But the old Hotel Great Lakes had burned down. Lavinia tried to persuade the Board that an exposition hall on company property would attract inventors. “We made millions with the boxed houses and who knows what might come along these days when every man’s head is whirring with logging machinery improvements? Let us use Mr. Jinks’s old house and grounds as the central node. Participants will take pleasure in strolling through our little forest.”

But fewer inventors applied to the Duke & Breitsprecher Exposition. Its day had passed. Men wanted to patent their ideas in their own names.

Dieter felt, too, that the golden days of logging when the forest was endless were over. Farmers who had cut off, burned down and worn out millions of acres of soil in the east were still rushing into the western timberlands to repeat their work, making huge pyres of prime trees and setting them alight, cursing when the scorched soil showed too rocky and poor for growing anything but weeds.

He suffered through the last quarter of the century as again and again Congress congratulated itself on enacting a series of logging laws — Timber Culture Act, Timber Cutting Act, Timber and Stone Act, all supposedly aimed at conservation but all written with more loopholes than a page of Spenserian calligraphy. “From what eggs do these fools hatch? They cannot see!” cried Dieter. “The greatest ill is waste. Only a minuscule fraction of the standing forest ever becomes lumber — most is burned or abandoned. Mein Gott!

“It is laughable,” said Dieter. “It is criminal. The infamous ‘land-lieu’ clause that allows anyone to ‘donate’ woodland to a protected forest in exchange for an equal amount of land somewhere else. Lumbermen love this ‘clause’ that lets them swap their logged-off woods for acres of untouched timber. It makes me sick to see the way they send carloads of lobbyists to Washington to keep the good paydays coming. This is the real American ‘liberty’!” His solitary breakfast hour was filled with exasperated sighing as he read of successive waves of scandal from real estate men to legislatures. But he said nothing of this to Lavinia. He knew she employed lobbyists. And by association, so did he.

• • •

It seemed the two miscreants had gone in opposite directions. Month after month Pinkerton reported rumors of sightings of Flense in Peru, Athens (Georgia), Glasgow and Buenos Aires, but no actual hard evidence.

“Keep on, keep on,” said Lavinia, paying the steep monthly detective bills. Then came word that Flense had truly been tracked down to an alley behind the Mulo Rojo, a restaurant in Valparaiso, where he lay dead, stabbed and robbed. Of Annag Duncan there was no word. She had truly disappeared into the wilds of Scotland, where no stranger dared go.

• • •

One roaring wet morning the housemaid brought up Lavinia’s pot of hot chocolate and trimmed toast. Lavinia was at the window, tying the belt of her rose silk dressing gown, looking out at the dark wind-streaked lake.

“Good morning, ma’am. Another nasty day. Mr. Dieter complains of a catarrh.”

“He had better stay in then. I will look in on him after I dress.”