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The Brigands their chief in order to discuss their unfortunate commercial venture.

'For my part,' Grinder was saying, 'I think the best thing as we can do is to chuck up the sponge at once. The Company is practically bankrupt now, and the longer we waits the worser it'll be.'

'That's my opinion,' said Didlum dejectedly. 'If we could supply the electric light at the same price as gas, or a little cheaper, we might have some chance; but we can't do it. The fact is that the machinery we've got is no dam good; it's too small and it's wore out, consequently the light we supply is inferior to gas and costs more.'

'Yes, I think we're fairly beaten this time,' said Rushton. 'Why, even if the Gas Company hadn't moved their works beyond the borough boundary still we shouldn't 'ave been hable to compete with 'em.'

'Of course not,' said Grinder. 'The truth of the matter is just wot Didlum says. Our machinery is too small, it's worn hout, and good for nothing but to be throwed on the scrap-heap, so there's only one thing left to do and that is, go into liquidation.'

'I don't see it,' remarked Sweater.

'Well, what do you propose, then?' demanded Grinder. 'Reconstruct the company? Ask the shareholders for more money? Pull down the works and build fresh and buy some new machinery and then most likely not make a do of it after all? Not for me, old chap! I've 'ad enough. You won't catch me chuckin' good money after bad like that.'

'Nor me neither,' said Rushton.

'Dead orf!' remarked Didlum, very decidedly.

Sweater laughed. 'I'm not such a fool as to suggest anything of that sort,' he said. 'You seem to forget that I am one of the largest shareholders myself. No. What I propose is that we sell out.'

'Sell out!' replied Grinder, with a contemptuous laugh in which the others joined. 'Who's going to buy the shares of a concern that's practically bankrupt and never paid a dividend?'

'I've tried to sell my little lot several times already,' said Didlum, with a sickly smile, 'but nobody won't buy 'em.'

'Who's to buy?' repeated Sweater, replying to Grinder, 'The Municipality of course! The ratepayers! Why shouldn't Mugsborough go in for Socialism as well as other towns?' 261