Ten thousand dollars down for the option, to apply on the
purchase price, of course, if the deal goes through, and to be
forfeited to you if I fail to make the next payment on time."
"What will the next payment be?" the cautious MacCandless demanded.
"Twenty thousand dollars a month, with interest at six per cent. in
deferred payments. You might as well be earning six per cent. on her
as have her rusting holes in her bottom down there in Mission Bay. As
she lies, you're losing at least six per cent. interest on her."
"There's reason in that," MacCandless answered thoughtfully. "You to
insure the vessel as our interest may appear, bill of sale in escrow;
and if you default for more than thirty days on any payment before we
have received fifty per cent. of the purchase price you lose out and
we get our ship back."
"Sharp business, but I'll take it, Mr. MacCandless. After I've paid
half the money I can mortgage her for the remainder and get out from
under your clutches. Put the buck up to your directors, get their
approval to the option and contract of sale, notify me, and I'll be
right up with a certified check for ten thousand dollars." And,
without giving MacCandless time to answer, Matt took his departure.
"If I talked ten minutes with that man," he soliloquized, "he'd have
the number of my mess.
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