William Gaddis - J R

— Under the bed sir I think he…

— Didn’t ask what you think just get them put in what’s all this you’re waving around.

— Yes sir you asked for the auditor’s report on J R Cor…

— Can’t waste time listen to it all now just want to know if they got the damn figures straightened out, told me down at the bank they never saw such accounting procedures, head of the company himself two places off with the damn decimal half the time SEC have him on fraud?

— No sir I understand they were unable to establish evidence of intentional wrongdoing since the errors were as frequently to the company’s own disadvantage as not and the generally unortho…

— Had an accountant didn’t they?

— Yes sir but apparently he was unused to dealing with transactions of these magnitudes, he seems to have been retained simply because he was the brother-in-law of the head of their public relations firm which in turn had been retained by his brother their general counsel Mister Piscator who is now handling Pomerance Associates’ suit against the parent as a substantial creditor, so that the entire…

— Didn’t ask for a lot of damn gossip Beaton take care of them like everybody else what the devil’s this, flimsy damn tissue blow a hole right through it said a handkerchief didn’t I? Perfectly good linen handkerchief in my coat there young woman told you to bring that stockholder letter Beaton, supposed to go out today it’s not even finished?

— I have the final draft right here yes sir, do you…

— Quit wasting time gossiping and read it then.

— Nurse leave Mister Katz alone and get me some crackers.

— Got this WATS line open operator try the hey man this Doris?

— Beaton what are you waiting for.

— Yes sir. Agreement in principle concerning the restructuring of debt and recapitalization of the company was executed by the company and a banking consortium of the company’s principal lending…

— Know that part get to the next paragraph.

— Hey man I thought you on long lines…

— Your company’s new management proposed, as an alt…

— Damn it Beaton what’s going on down there.

— Katz you mean him he’s right in the bed here man, got a call from Wash…

— Beaton!

— Here give me that! hello…? Yes sir he… this is Beaton yes sir he’s right here. Mister Moncrieff sir, he’s…

— Hold it to my ear damn it! can’t hear him under there can I? Monty…? No got your desk cleaned out there yet…? No going up in a few minutes got Beaton in here on damn it hold that close can’t blow my nose across the room can I? what…? Got Beaton up here on it now trying to reach Broos find out what the devil’s holding up this damn loan guarantee before we… don’t know yet waiting to hear on this cable transport scheme, comes up with something I want that Diamond tender to… shouldn’t have a problem Zona up here usual gracious self eating her way through a five pound Stilton says Boody’s all taken care of hold on, Beaton? Didn’t tell you to quit reading did I? Quit when I tell you hear me? Monty…?

— Yes sir proposed, as an alternative to straight liquidating bankruptcy, that the company file a petition seeking an arrangement with creditors under chapter eleven of the Bankruptcy Act. A chapter eleven proceeding is one which permits a debtor to continue in possession of its property and to operate its bus…

— Saw all that in the paper Monty damn nonsense nobody ever won an interview why the devil’d you give them one, used to dealing with these nickel and dime politicians down there can’t make up a new scandal try to rake up an old one see what they printed about me last week? Took off on this management contract with Pythian interlocking directorates went back a hundred years to the Bitterroot strike dragged in everything but the damn kitchen sink, leftwing press want to make it sound like this smaltite contract’s why you’re quitting what’s the damn difference a contract’s a contract, just want to be damn sure this one’s honored see that smelter we built them over there’s declared surplus sold back to Typhon, ought to be in operation right now finished their fool war country’s running like a company town labor pool pulled in from… what? Place next door there Malwi yes I told Blaufinger to annex it while they were at it favor to… No no favor to Zona, having some trouble here parking her damn car simplest thing just to hold on what’s that Beaton?

— The suspension from trading of the company’s common stock and nine percent convertible subordinated debentures, at which time the securities of the company were delisted due to the company’s inability to meet listing requi…

— Monty? didn’t hear you got Beaton here babbling about this debt restructuring damn it Beaton hold it to my ear think I hear with my chin? was what…? Annexed told them just to go in and… how the devil’d that happen said there wouldn’t be any resistance, Blaufinger didn’t think they had a damn slingshot between them said these Uaso troops just walk in and… well by God… Well by God decima… what? Poor buggers where’d they… thought they were real? Where the devil’d they get them never heard such a… don’t know damn it means we’ll have to drag in labor from Angola or some other damn hold on, what the devil do you want.

— Just sign here Mister Katz?

— Here here give me that I’ll sign it. There. On that date…

— Monty? How secure’s this damn phone you’re on…

— City National Bank, the trustee under the indenture applicable to the nine percent convertible subordinated debentures declared an event of default and demanded payment of the outstanding principal amount together with the accrued int…

— Figured those deposits someplace upriver from the brewery where they get the trace of cobalt puts the head on their beer, damn fools tip their hand file for the mineral depletion allow… I know that no damn reason to broadcast it is there? Already hanging you with this Typhon contract cobalt stockpile’s the whole damn basis for it, broadcast this every damn leftwing paper in… resignation don’t take effect till tomorrow does it? Any damn reason you can’t just stamp the whole damn thing classified before you clean out your desk there? Don’t any… Management no don’t know a damn thing about it good earnings record probably got it in to raise capital hold on, Beaton? Paragraph in there on this brewery sale?

— Yes sir it’s the next para…

— Well read it.

— Yes sir. The operations of Wonder Brewery are continuing normally. The company has received and is entertaining several inquiries looking to the sale of this subsidiary. The chapter eleven proceeding poses certain technical difficulties but there does not appear to be any reas…

— Strike it out. Monty…? No just sit on the whole damn… shouldn’t make any trouble no, heard they locked him up chasing police around the brewery there with a damn gun right now just sit on it maybe tie it in later on the sale to this pipeline outfit soon as Broos gets this loan guaran… taking the original offer Stamper made before he went down that’s right Alberta Western sites mining clai… Don’t care how damn low it was bona fide offer wasn’t it? Think we… because his outfit’s already spent forty million studies surveys hearings impact statements litigation with these damn ecologists still haven’t laid a damn inch of pipe… banking consortium underwriting every damn penny that’s why, sell off this Alsaka subsidiary to them lock stock and barrel only way to keep the damn reins on it… SEC why should the damn SEC interfere, recapitalizing the parent company settle the creditors save the damn stockholders something, have to raise capital don’t we? Cash flow level’s projected to hold this paper complex together Triangle handful of satellites no damn reas… know that yes still mostly timber harves… well by God, Beaton?