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The excerpt represents the core issue or deciding factor on which you must meditate, and is drawn from The Riverman by Stewart Edward White: timber. This $70,000 he proposed to borrow personally, giving his
note due in 1885 and putting up the same collateral as Orde had--
that is to say, his stock in the Boom Company. To this Orde could
hardly in reason oppose an objection, as it nearly duplicated his
own transaction of 1878. Newmark therefore, through Heinzman, lent
this sum to himself.
It may now be permitted to forecast events in the line of Newmark's
reasoning.
If his plans should work out, this is what would happen: in 1883 the
firm's note for $75,000 would come due. Orde would be unable to pay
it. Therefore at once his stock in the Boom Company would become
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