Murder in the Gunroom | Page 7

is only Little Business, as the foods industry goes, but they have something very sweet. So sweet, in fact, that one of the really big fellows, National Milling & Packaging, has been going to rather extreme lengths to effect a merger. Mill-Pack, par 100, is quoted at around 145, and Premix, par 50, is at 75 now, and Mill-Pack is offering a two-for-one-share exchange, which would be a little less than four-for-one in value. I might add, for what it's worth, that this Stephen Gresham you mentioned is Mill-Pack's attorney, negotiator, and general Mr. Fixit; he has been trying to put over this merger for Mill-Pack."
"I'll bear that in mind, too," Rand said.
"Naturally, all this is not being shouted from the housetops," Tipton continued. "Fact is, it's a minor infraction of ethics for me to mention it to you."
"I'll file it in the burn-box," Rand promised. "What was the matter; didn't Premix want to merge?"
"Lane Fleming didn't. And since he held fifty-two per cent of the common stock himself, try and do anything about it."
"Anything short of retiring Fleming to the graveyard, that is," Rand amended. "That would do for a murder-motive, very nicely.... What were Fleming's objections to the merger?"
"Mainly sentimental. Premix was his baby, or, at least, his kid brother. His father started mixing pancake flour back before the First World War, and Lane Fleming peddled it off a spring wagon. They worked up a nice little local trade, and finally a state-wide wholesale business. They incorporated in the early twenties, and then, after the old man died, Lane Fleming hired an advertising agency to promote his products, and built up a national distribution, and took on some sidelines. Then, during the late Mr. Chamberlain's 'Peace in our time,' he picked up a refugee Czech chemist and foods-expert named Anton Varcek, who whipped up a lot of new products. So business got better and better, and they made more money to spend on advertising to get more money to buy more advertising to make more money, like Bill Nye's Puritans digging clams in the winter to get strength to hoe corn in the summer to get strength to dig clams in the winter.
"So Premix became a sort of symbol of achievement to Fleming. Then, he was one of these old-model paternalistic employers, and he was afraid that if he relinquished control, a lot of his old retainers would be turned out to grass. And finally, he was opposed in principle to concentration of business ownership. He claimed it made business more vulnerable to government control and eventual socialization."
"I'm not sure he didn't have something there," Rand considered. "We get all our corporate eggs in a few baskets, and they're that much easier for the planned-economy boys to grab.... Just who, on the Premix side, was in favor of this merger?"
"Just about everybody but Fleming," Tipton replied. "His two sons-in-law, Fred Dunmore and Varcek, who are first and second vice presidents. Humphrey Goode, the company attorney, who doubles as board chairman. All the directors. All the New York banking crowd who are interested in Premix. And all the two-share tinymites. I don't know who inherits Fleming's voting interest, but I can find out for you by this time tomorrow."
"Do that, Tip, and bill me for what you think finding out is worth," Rand said. "It'll be a novel reversal of order for you to be billing me for an investigation.... Now, how about the family, as distinct from the company?"
"Well, there's your client, Gladys Fleming. She married Lane Fleming about ten years ago, when she was twenty-five and he was fifty-five. In spite of the age difference, I understand it was a fairly happy marriage. Then, there are two daughters by a previous marriage, Nelda Dunmore and Geraldine Varcek, and their respective husbands. They all live together, in a big house at Rosemont. In the company, Dunmore is Sales, and Varcek is Production. They each have a corner of the mantle of Lane Fleming in one hand and a dirk in the other. Nelda and Geraldine hate each other like Greeks and Trojans. Nelda is the nymphomaniac sister, and Geraldine is the dipsomaniac. From time to time, temporary alliances get formed, mainly against Gladys; all of them resent the way she married herself into a third-interest in the estate. You're going to have yourself a nice, pleasant little stay in the country."
"I'm looking forward to it." Rand grimaced. "You mentioned suicide rumors. Such as, and who's been spreading them?"
"Oh, they are the usual bodyless voices that float about," Tipton told him. "Emanating, I suspect, from sources interested in shaking out the less sophisticated small shareholders before the merger. The story is always approximately the same: That Lane Fleming saw his company drifting reefward, was unwilling to survive the shipwreck,