A Lady Most Lovely by Jennifer Delamere Read Free Book Online Page B

set them down in front of her.
    A quick perusal of the first page showed her this was not the marriage settlement. “What is this?”
    Mr. Hawthorne sat down in one of the chairs, facing Margaret. “This is all the information that we have been able to glean about the Saint Louis and Western Railroad.”
    “The project that Mr. Denault is spearheading in America?” Margaret said in surprise. “I thought you had been over all that already.”
    “Something about the financial statements appeared not quite right.” With a gesture toward Mr. Clarke, who was standing deferentially off to one side, he added, “Clarke suggested we have our own men look into the matter.”
    “And?”
    “The Saint Louis and Western is not in the robust health that Mr. Denault has led everyone to believe. In fact, it is in dire need of a large influx of cash in order to keep it afloat.”
    “Are you quite sure? The company’s prospectus—”
    “It was, I’m afraid, rather too optimistic.”
    Hawthorne’s solemn pronouncement set Margaret’s heart pounding in alarm. “Surely you are mistaken,” she insisted. “Paul has more offers of backing than he can even handle. The current shareholders are practicallyinsisting that he not sell any more, to keep their own profits high. He told me so himself.”
    “I have no doubt that he presented it to you in such a way,” Hawthorne said, ever the diplomat. He did not need to point out that just because Paul said it, it wasn’t necessarily true.
    Margaret thought back to her conversations with Paul on this subject, and she had to admit that he had not been very forthcoming with concrete details. He also had an annoying habit of trying to change the subject whenever she pressed him on it. “What exactly have you found out? Who are your sources?”
    “There is a man newly arrived in London—a Mr. Seton,” Hawthorne said. “He is in the country to transact some business for the First Bank of New York. Mr. Clarke was fortunate enough to make his acquaintance.”
    Hawthorne said this last part with a tiny smile of approval, and Margaret was sure that meeting Mr. Seton had not been mere coincidence. Hawthorne’s network of contacts in the city was extensive. Another legacy of his days as a spy.
    “The Bank of New York has organized funding for a number of railway projects in America,” Mr. Clarke explained. “Mr. Seton is quite knowledgeable in this area. His bank has been investigating complaints that the Saint Louis and Western is not being honest with its shareholders. There is a possibility that money taken from new investors is merely used to pay ‘dividends’ to the prior investors, giving them a false sense that the company is prospering.”
    “But what is the point of that?” Margaret asked, confused. “How can such a company continue to operate?”
    “It can go on like that indefinitely,” Mr. Clarke told her. “That is, until the influx of money runs dry. Mr. Seton is of the opinion that Mr. Denault has stolen or spent most of the capital and needs immediate cash to stave off the threat of being discovered. Mind you, we are making no accusations at this point.”
    “Could there possibly be a mistake?” Margaret asked. “Could Mr. Seton’s information be incorrect?”
    Clarke spread his hands in the universal gesture of uncertainty. “We are leaving open that possibility, for now.”
    “However, I feel I should tell you,” Hawthorne added, “that Mr. Denault’s solicitors have been asking very particular questions about the state of ready cash in your estate.”
    “But that’s absurd!” Margaret burst out. “We can’t both be marrying each other for money!” The idea sent terror through her.
    “I’m afraid we must consider the possibility,” Hawthorne said solemnly.
    Margaret sat back in her chair and rubbed her eyes, pushing back the tears that threatened to come. Her finely laid plans were unraveling, and it took every ounce of will to fight the panic.