"Cross the bridge when we get to it, and in the mean time we can prepare the best we can." Fortunately, there was plenty of time, and they had resources to help them plan. "So, now," Emeline asked, "what more of the mines? We're keeping the ones in Nevada, right?"
She wasn't sure if those were part of the co-op, and she didn't know enough about that sort of business to have an opinion on it, short of trusting Barnabas' decisions, and she knew he'd do what was best for them, and their soon-to-be family.
Barnabas looked at Em a moment, then smiled. "Yes. We are keeping the mines in Nevada, so long as they hold out." He said. "We can and will support the corporation financially. We'll need more than Speed here can afford, and that is where we step in to get the equipment that we'll need to mine the copper."
"And that money you'll get back as soon as there's a profit to allow it." Speed said before Barnabas could continue.
"Knew that. But I do know that it takes money to make money. Learned that a while ago, the second mine, that one might take some doing from what you've said, but dang it, we'll get there."
Alice smiled."Yes, we will get these mines paying, we'll find the right men to get things moving in the right direction." She was confident that they would do just that, all of them would make this happen for one another.
"Workin' on thet already." Ty added. "Some good points Missus Pike. Good points all around."
"The law is the law."
"Mining's not everyone's choice of hobbies, it just happens to be mine."
"In that case, I'd say we've managed to get a number of things done this evening." Speed said with a smile. "It appears we are moving ahead and that is good, Now the Falcon, that one is going to have to wait as expenses with the Queen are going to be steep, machinery, replacement parts, tools, salaries, not to mention food." He looked around the table, happy with what he saw. Good friends, good people.
I propose we have monthly meetings for a while, might not be possible as winter sets in, and only the Good Lord knows what will be in store for us this time around. Certainly, the Whitefish disaster has stayed with all of us. A terrible tragedy to be sure, one that could not have been prevented. Though I understand that those that remained have made use of the buildings that were still standing, however, there's been no move to rebuild as one might expect.
"If there is no other business, perhaps we should adjourn?" He added.
For a moment, Emeline was silent, pondering whether she should speak up, but these were friends, and she was part of the team, and knew that no one would fault her for giving her opinion.
"I think we should agree on a percentage of the income to set aside," she proposed, "just a small bit that can increase as the ventures become more profitable, but just..." she shrugged, "a commitment, to the future, to security."
There were so many tales of men who became greedy, thinking that prosperity would last forever, and gambled everything, all the time, and then, when the bottom fell out, were left destitute. And she'd never imagined that she'd have so much money, hence security, in her life, and she wanted to be sure it was there, even in the face of trouble.
"The law is the law."
"Mining's not everyone's choice of hobbies, it just happens to be mine."
Speed smiled as he nodded, looking around the table. "I see that I missed that part Em, my apologies for the oversight. I've been at this for some time now and have always held a ten percent 'prudent reserve' from all my accounts. Now that may not sound like a lot until you see it." He began, "Realize for every dollar, that's a dime, and so on up the scale."
We will see profit growth, that is certain by the assay reports, so long as the ore holds out. So, every thousand dollars in profit will yield one hundred dollars into the reserve, and so on. And that money will be there in case of an emergency, as those too can happen in this business. I believe that was what Em was referring to, and, there will be a strict accounting of all incoming funds, the books will always be available, and a monthly statement will be issued to each of you. You will each know where we stand monthly, without fail."
"Sound about right, Em?" He concluded.
"Yes, thank you." She'd had almost no doubt that something was being done, she knew that Barnabas was setting some aside from their profits, and it was good to know that their partners were of similar thinking. And it was good to know that that 'safety net' would be there, so they could always have some comfort in their lives.
"I hadn't thought about it until just now, but we can include the Lickskillet in this." After all, a co-op should take in everything, right? "Mrs. Lutz is getting fifty percent of the profits, but she's essentially running the place, but the rest can be included in this if you'd like?" It was a pittance compared to the mines, but it was her offering.
Pike looked in her direction, "Now the Lickskillet is yours to do what you like. And yes including it in the corporation is a good idea. I'll agree with that." He looked at Speed next, "And the ten percent in reserve, great idea. As things move along here, I can see where that will become a good deal of cash on hand. Maybe to reinvest."
"Maybe so, maybe so," Speed teased. "Going to have to see what's needed and when as things progress, but I believe we're on the right track. And Em., a gracious offer indeed. The priorities moving forward are likely to change more than they are going to remain stable, at least early on."
"Afore I forget, thet assayer, Anderson, er Ambrose Pierce, might oughtta invite him to the next meetin' doncha think?" Amos suggested. "Feller knows what's what an' I was thinkin' of taking him out to the Falcon fer a look-see. Git his opinion."
"Fine ideas, the both of them. Having him in the office is a real asset, but to have him on hand to answer questions we might have, that would be grand." Speed agreed.
"It's good to know that our future is secure," Emeline commented with a smile. Most of her life, she'd been of the thinking that lifewas going to be a struggle, at least to some degree. Oh, she believed that with hard work, she and Andrew, and later, she alone, would achieve enough success to be comfortable at least, but that would have been years in the making, and could have easily been snatched away.
Now, though, there was security so that she could relax at least in that aspect.
"I agree that anyone who contributes to the ventures should be invited to meetings, it seems that the more opinions we can get, the more knowledge we have to make the right decisions going forward."
"Just about as seecure as we make it!" Amos stated. "Gonna be some real work involved an' that'd be findin' the right men ta git thet ore on outta the ground."
"Anybody that has a stake in this operation is more than welcome, and Mister Pierce will most certainly be one expected to come and share his wisdom with us. The idea of taking him out to the Raven is a good one. At least he can see what's there and by chance be able to tell what we have." Speed offered, "Not sure this room can handle everyone with a stake in the mining operation needs to come, but then what do you think of putting shares out once we're up and running?"
Shares? Everyone just looked at speed. "There are people who will invest in this."
"If you think that's the right thing to do." Emeline knew little of the market, or how things like shares worked, so she was content to defer those decisions to people who knew better, and she trusted them.
"As for space, we can use the Lickskilled for meetings," she suggested. "I can close it for the day and Clara can have the day off. There's plenty of room, and I hear the food is decent enough!" And it wouldn't do any harm to be closed now and again, there were certainly the funds to cover it.