Distant Dreams (27 page)

“We’re here, Father,” James said, entering the room with Joseph Adams.

“Leland, forgive me for taking you away from the party, and after you braved the inclement weather to come out,” Joseph said, giving Leland a hearty handshake. “I won’t keep you here long.”

Leland awkwardly rose in greeting. “I am just honored to be your guest, Joseph. Now, what’s all this about a private proposal?”

Laughter sounded again when a sour note was struck on the piano, and the chorus was started again.

James went quickly to close the door, only marginally shutting out the party. “Perhaps another time would have lent itself to a more businesslike atmosphere,” Joseph said, taking a seat across from Leland, “but I feared it would be past the New Year before I’d have a chance to speak with you again.”

“Is there a matter of urgency?” Leland questioned anxiously.

James pulled up a chair. “Not really urgency, Father, but something that has taken the interest of Mr. Adams.”

“Not only me, but of my daughter and your son as well,” Joseph replied.

Leland smiled. Ah, he thought, so there is to be an engagement announced for Christmas. He’d not thought James would be so joyous about the situation, but relief flooded though him as he imagined what his son’s union with Virginia Adams could mean for the Baldwin affairs.

“This is good news,” Leland gave an enthusiastic nod of approval directed toward James. “Mrs. Baldwin will be delighted.”

James frowned. “I don’t see why Mother would find this of any interest.”

“Good grief, son! You’re her only child. Of course she will find this of interest. After all, it isn’t every day you send your son off to be married.”

“Married!” James exclaimed and Joseph laughed heartily.

“I’m afraid I gave you the wrong idea, Leland. This is an entirely different matter.”

James reddened at this, and Leland tensed and drew in a tight breath.

“Then what is this all about?” Leland said rather testily. “You mentioned my son and your daughter.”

Joseph rubbed his muttonchop whiskers. “And so I did. I spoke of Carolina, however, not Virginia. And the proposal I’m seeking to include you on is one based upon railroad interests.”

“Railroad . . . ?”

“That’s right. In the last few days your son and I have done some talking, and after searching through many of the newspapers and journals, I find that railroads are being created very nearly every day. James and I have discussed the possibility of starting our own rail line, and we wanted to include you in the project, if you were of a mind to join us.”

Leland’s disappointment was evident. “I’ve no time for such foolery. The railroad will see its day and fade away. It can’t hope to last. Why, James is evidence enough of the serious problems to be considered. That accident cost the B&O a small fortune. Phineas Davis is dead and my James is left wounded, maybe for life. Even with the dangers aside, I’ve told you before it’s a very risky business. You can’t hope to see a decent return on your investment, at least not for a long, long while. Maybe not even in your lifetime.”

“Don’t be so pessimistic, Baldwin,” Joseph replied. “The B&O is still doing quite well. There are a multitude of other rail lines as well, and all are showing some margin of profitable business. I propose a line that would run from Falls Church to Washington. It would link all the families in this area and be small enough that the price would be quite contained.”

“If it’s that small, what possible merit would there be?” Leland shifted his weight and silently wished the conversation could be concluded. He’d hoped with the accident that James’ interest in the railroad would be at a standstill, if not an end.

“There’s a great deal of cotton in this area that could be shipped on the rail, not to mention passenger traffic into the city. If a line were to be laid from Falls Church, I could actually ship my cotton to New York City and eventually even Boston, without it ever having to leave the rail cars.”

“Shipping via the river and canals is cheaper,” Leland suggested.

“Not necessarily, Father,” James joined in. “The canal is having a great deal of trouble. There are constant battles for right-of-way, and the cost of usage is rising.”

“And your railroad is not suffering the same effects?”

“Not to the degree of the canal. The railroad, once laid, won’t cost as much in upkeep. It will still need to be maintained, but slave labor of the area plantation owners could assist in that and save the line a small fortune. Each plantation owner could pay a fee to use the line, and part of that fee might well be to offer up the use of slaves to improve or maintain the line.”

“Not to mention that once the line is actually in place, the number of people simply riding in and out of Washington will help to support it,” Joseph stated.

“That’s right, Father. The Washington Branch charges two dollars and fifty cents per trip between Washington and Baltimore, and in the four months since that line opened, they’ve already carried more than ten thousand passengers.”

“That’s unheard of!” Leland exclaimed. No one had told him this before, and he found it hard to believe.

“It’s true enough,” Joseph announced. “Several months ago I invested in the B&O, and the figures James quotes are directly from Thomas. They are increasing their passenger loads each month, and the freight revenues are increasing as well. In one year the B&O grossed $260,000 in revenues.”

“And you believe there would be enough interest from the folks of this area to support your short line into the city?” Leland was quickly starting to rethink his attitude toward the railroad.

“I believe in time and with the right laying of the line, it will pay for itself. It shouldn’t take all that long, either.” Joseph seemed more than confident in his beliefs. “James and I have even discussed the possibility of extending the line southwest to Fairfax and maybe eventually south, all the way to Richmond. Just imagine the possibilities there.”

“But don’t these things require a charter?”

“Indeed. And that, in all honesty, may well take the bigger portion of our patience. Still, while we are waiting, we can start putting together the funds. I have enough capital to put up in order to show our ability to see the project begun. You could help by soliciting some area investors and maybe even government officials to consider purchasing subscriptions in our line. That will speak volumes to the legislature.”

“If we can get at least half of the projected funds lined up through pledged and actual subscriptions,” James interjected, “other investors and plantation owners will soon follow suit and see the merit of investing.”

“And you believe people would be willing to do this?” If this were indeed true, Leland was already seeing the possibilities for benefits to his own financial needs.

“Of course they will. There are many wealthy people out there who have a desire to see the railroad move forward. They will see the development of another line as a boon to the entire industry.”

“Remarkable,” Leland muttered. “But what of the fact that little visible progress will be evident at first. I mean, it will take time to obtain a charter, and monies will surely have to be laid out in order to have surveys performed and such. Then, too, what if the charter is never granted?”

“That’s always a possibility,” Joseph replied. “But this is where I come in. I have friends in the capital, and I can provide some of the initial funds to get things going. We purchase the needed surveys and set down our plans on paper. James will be able to establish good connections for us with the B&O shops, and when the time comes perhaps we can even count on one of his designs to grace our first tracks.”

Leland pulled out a handkerchief and mopped his perspiring brow. The Christmas merriment outside the room was already forgotten. The singers, though just as rowdy and boisterous as earlier, were scarcely of concern to Leland in light of this new information.

“And investors, even government investors, will understand that these things take time and that the money needs to be in the bank ready to draw against, even when there is no evidence in the physical nature of the promoted rail line?”

“It’s very common in these things,” James assured. “It also allows us the ability to request pledges rather than actual funds. This way people can raise the money gradually, and we can show strength for the charter.”

“But again, what if the charter is never granted?”

Joseph shrugged. “Then we return the money or rearrange our plans and try again. Of course, the funds already expended for the charter and surveys will simply be losses that the investors will risk.”

Before Leland could say another word, a light knock sounded on the door. Joseph rose to open it, and Carolina entered the room, carrying a tray of drinks. “I’ve brought some Christmas cheer,” she said brightly. Leland grunted and struggled to his feet, as did James.

“You’re just in time, daughter.” Joseph took the tray from her and held it out to serve first Leland and then James.

“In time for what?” Carolina took a cup as it was offered her and waited while her father claimed the remaining portion.

He held his cup up high. “I propose we toast the formation of a new rail line.”

Carolina grinned, and Leland thought she looked every bit as delighted by the prospect as his son. What a queer young woman to find interest in the making of masculine corporations.

“Are you with us, Father?” James asked.

“Yes, Mr. Baldwin,” Carolina chimed in, “are you going to join us in our venture?”

Leland held up his cup. “How could I resist such a lucrative proposition?”

“Then here’s to the Potomac and Great Falls Railroad! The P&GF!” Joseph declared.

“To the P&GF,” James and Carolina said in unison.

Leland smiled and touched his cup to theirs. “To the P&GF!”

“You’re terribly quiet, my dear. Are you unwell?” Edith Baldwin asked her husband on their journey back to Washington. She snuggled close to gain warmth, and Leland absentmindedly put an arm around her shoulders.

“I’m quite fit,” he answered, deep in thought. The prospects of what he’d learned this night had intrigued him. To imagine people would invest their money in a project that might take months—more likely years—to show some type of action, much less any type of return. He was beginning to realize the possibilities for what could eventually turn his financial woes around.

“It was a lovely party, and our James seems quite content to escort Virginia Adams. I don’t think he left her side for more than a few moments all evening. That is, after you finally joined us.”

“It couldn’t be helped. There was some business to discuss, and it took a little longer than we’d intended.”

“Well, no matter. I hear from Margaret Adams that her Virginia is quite taken with James, and confidentially, she believes we will hear something of an engagement announcement by spring.”

“That would be wonderful,” Leland murmured, but his mind was clearly not on the conversation. Already he was organizing his next move. He felt Edith shiver and move closer still, and he reached out to pull another blanket over their laps. “This should help.”

“Did you see how well he looks?” she murmured.

Leland realized for the first time that she had been as preoccupied in her thoughts as he had. Only her thoughts were clearly on their son.

“Yes, a remarkable recovery.”

“He no longer uses his crutches, and he even managed a few of the slower dances. I think in time that limp will completely disappear.” Edith sighed contentedly. “Will he join you at the bank after he and Virginia are engaged?”

“I don’t think so. At least not at this point. He’s quite taken with the railroad again.”

Edith stiffened and pulled away. “I forbid him to reinvolve himself with that misfortune. It nearly killed him.”

Leland nodded. “Yes, it did. But James is a grown man, and he is independently minded. He has a strong conviction about the railroad, and he’s even managed to sway my original misgivings regarding it for the future.”

“No!” Edith exclaimed and moved a space away. “You can’t tell me you’ve actually encouraged him to take it up again? Please tell me you at least tried to convince him to join you in banking.”

“Now, Edith, this is a matter for men to discuss. You’ve a soft mother’s heart but no mind for business. James himself pointed out the remote possibility of his ever being in another accident of those proportions. And he will be involved most likely in the business end of the venture. He’ll have little cause to ride the thing. Besides, the railroad is becoming safer all the time. I think it is the way of our future.” He felt as if he was practicing a speech for all of his potential investors.

Edith pondered this for a moment, then with another shiver she eased back against her husband. “I suppose you’re right. But I still fear that hideous metal monster will take him away from us.”

“Nonsense and bother,” Leland reassured. “James will be quite safe. He’s a talented young man, our son.”

Edith hugged him. “I’m so glad you think so. I wondered if you two would be at odds with each other forever.”

“Not at all. In fact, this evening I joined him in a venture.”

“You did? What was it?”

“The railroad, what else?” Leland laughed. “Joseph Adams has it in his mind to start a railroad.”

Edith said no more, obviously uninterested in learning more of the business venture. Leland once again grew absorbed in his own thoughts. He had big plans to make and couldn’t be bothered with his wife’s prattle. He kept thinking of what James and Joseph had told him. It was still quite amazing—fabulous fodder for his devious mind. If people would give over their money to invest in a railroad that might never come to be, then why not create more than one of these ventures? Paper railroads would be an easy thing to promote. Low subscription prices would urge even the average man to involve himself in the future development, and Leland knew there was much he could do to promote the railroad to his friends and bank depositors. The possibilities were endless, but he knew innately that for his schemes to succeed, he must not take even James into his confidence regarding the matter.