Stanley Wilberton shifted in his chair. He could not turn his eyes away from the fascinating power of the other man’s glance. It was only when Howard Griscom spoke that Wilberton managed to free himself from that dynamic gaze.
“Ah, yes,” he said, hearing only the voice of Griscom, “it is true that some rackets have declined. I recall reading that one in particular, was broken during the past week.
“But, gentlemen” — he glanced swiftly about the table, carefully avoiding the gaze of the man in the corner — “I can tell you this! These racketeers will find new outlets when others have been ended, and the theatrical business — your business — will be one of them!”
There was an impressiveness in Wilberton’s statement that had a marked influence upon the men present. Ballantyne was still unconvinced. The man in the corner said nothing. His face was impassive. Howard Griscom noticed him.
“Ah, Mr. Wilberton,” he said. “The gentleman who spoke a few minutes ago is Mr. Lamont Cranston. He has an interest in the Derringer Circuit, the enterprise which will be absorbed in the merger.
“We believed that Mr. Cranston was away from New York. He gave us an agreeable surprise by appearing here unexpectedly.”
“I am glad to have his opinion,” said Wilberton. “Perhaps I am prejudiced, gentlemen; but remember, I am a financier and a banker. You are theatrical men — you may also have your prejudices.”
Howard Griscom nodded. His face wore a worried expression. He looked at the men about him, particularly Ballantyne. He cleared his throat and spoke directly to Stanley Wilberton.
“WE must accept your opinion, Mr. Wilberton,” he said, “and, after all, it is more than justified. I am going to speak frankly with you — as I always do.
“We have encountered a problem with United Theaters that presages what you have mentioned. Mr. Cranston is ignorant of this — for the theaters in which he is interested are not in New York. I do not believe that the Cooper-Lowden interests have had the experience.
“But it is a problem that has confronted United Theaters. In all fairness, I must discuss it now.
“We have been approached by an individual who claims to be a representative of the Theatrical Owners Cooperative Association — an organization entirely unknown to us.
“He has suggested that we join the association — but at a tremendous cost — in order to protect ourselves against dangers which apparently have never existed before: namely, disturbances in theaters, law suits from patrons, and damage to our property!”
“It’s an idle threat!” interrupted Ballantyne. “Pure buncombe! You have no right to mention it!”
“I shall proceed in full,” declared Griscom quietly. “You probably know, Mr. Wilberton, that admission charges have been reduced ten per cent in some of our theaters, and that we have planned a further reduction of ten per cent.
“We have figured that increased patronage would more than offset this — and produce a large profit. This representative of the Cooperative Association has suggested that we maintain the old price level throughout, and turn over ten per cent of our receipts to his organization!
“He claims that we can gain increased attendance without the lowering of admission prices. He knows that the lower admissions are partly a move to meet the competition of smaller, independent theaters.
“He states that those houses will be taken into the association also, and that they will not be allowed to cut prices.”
“How much would this association fee cost?” questioned Wilberton.
“When the merger is completed,” declared Griscom, “it would affect subsidiary houses of the Cooper-Lowden interests. Our payments to the unknown Theatrical Owners Cooperative Association would amount to an average of thirty thousand dollars a week.”
A murmur of astonishment passed around the table. Only two men did not join it; they were Stanley Wilberton, man of millions, and Lamont Cranston, whose expression never changed.
“It is true,” declared Griscom, “that our present revenue might be increased through the plan offered by the Cooperative Association. But to us, the plan seems to be a holdup. It is entirely unlike anything that we have ever before undertaken. We do not like it!”
“We don’t like it,” interjected Ballantyne, “and what’s more, we’ll have nothing to do with it!”
“Gentlemen,” declared Stanley Wilberton, “my apprehensions are not unfounded. Mr. Griscom has told me, in so many words, that your New York holdings — your most important assets — are threatened by the very difficulty which I have foreseen. Under the circumstances, I cannot lend my financial support to your merger!”
“This has got to go through, Mr. Wilberton!” Ballantyne was appealing. “We’ve got to have your support!”
“I cannot give it. I must be assured that your business is on a stabilized basis.”
“Mr. Wilberton,” one of the Cooper-Lowden men was speaking, “you said, a little while ago, that a business that complied with regulations imposed by racketeers might be regarded as a sound one.”
“Very much so,” agreed Wilberton. “Rats are found chiefly in houses where much food is available.”
“Suppose,” said the speaker, “that United Theaters should tie up with this Cooperative Association. How would that influence your decision?”
“I have just one wish,” declared the financier. “I must know that your combined business is going to be free from any artificial menace.
“I do not care what your expenditures may be, so long as a reasonable profit is shown. But I will not risk my capital in an enterprise which is threatened by an unnatural hazard. That, gentlemen, is final!”
STANLEY WILBERTON arose and walked to the door. Griscom accompanied him from the room.
Ballantyne began to expostulate, arguing with the Cooper-Lowden man. Lamont Cranston watched them with unchanging expression.
Howard Griscom returned. He looked at George Ballantyne. The secretary of the United Theater Corporation arose and faced the gathering.
“There are two men,” he said, “who hold the key to this merger. I am one. Howard Griscom is the other. We represent United Theaters, and it is we who are threatened.
“I, for one, will not pay tribute! I will fight the racket! While I live, gentlemen, the merger will not go through under such conditions, if I can help it! What do you say, Howard?”
There was a pathetic expression upon Griscom’s face. The man had become older.
He knew that, with Ballantyne, he was the only one who could block the path of the merger. His dreams of many years had seemed on the point of realization. Even now, a word from him, and Ballantyne could be overruled.
But Howard Griscom did not speak that word. Instead, he reached across the table and shook Ballantyne’s hand.
“All right,” the leader of the Cooper-Lowden interests interposed. “I don’t agree with you two, but I admire your stand.
“We’re ready for the merger, and we’re willing to let the public pay for what we may have to hand to racketeers. We’ll go through with it any time you say the word!”
The conference was ended. Howard Griscom saw his guests leave the room. He thought for a moment that he was alone with George Ballantyne; then he noticed that Lamont Cranston was still seated at the corner of the table.
The man spoke as Griscom looked in his direction.
“I expressed no opinion after Wilberton was gone,” he said. “The Derringer Circuit is small. It is for sale at any time you choose to buy it.