第 68 页

Another factor that worried William was that he did not care too much for the new breed of directors now working at the bank. Jake Thomas, the new vice-chairman was the firm favorite to succeed him as chairman. He might have been educated at Princeton and graduated Phi Beta Kappa, but he was flashy - too flashy - thought William and far too ambitious, not at all the right sort to be the next chairman of Lester's. He would have to hang on until his sixty-fifth birthday and try to convince Richard that he should join Lester's before then. William was only too aware that Kate would have had Richard back on any terms, but as the years passed, he had found it harder to give way to his better judgment. Thank heaven Virginia's marriage was going well, and now she was pregnant. If Richard refused to return home and give up that Rosnovski girl, he could still leave everything to Virginia - if only she produced a grandson.

William was at his desk in the bank when he had his first heart attack.

Not a very serious one. The doctors told him he should rest a little and he would still live another twenty years. He told his doctor, another bright young man - how he missed Andrew MacKenzie - that he only wanted to survive for ten years to see out his term of office as chairman of the bank.

For the few weeks that he had to convalesce at home, William reluctantly allowed Jake Thomas the overall responsibility for the bank's decisions, but as soon as he returned, he quickly re-established his position as chairman for fear that Thomas might have taken on too much authority in his absence. From time to time, Kate plucked up the courage to beg him to let her make some direct approach to Richard, but William remained obstinate, saying, 'The boy knows he can come home whenever he wants to. All he has to do is end his relationship with that scheming girl., The day Henry Osborne killed himself, William had a second heart attack.

Kate sat by his bedside all through the night, fearing he would die, but Abel Rosnovski's trial kept him alive. William followed the trial devoutly every day, and he knew Osborne's suicide could only put Rosnovski in a far stronger position. When Rosnovski was finally released with nothing more than a six month's suspended sentence and a twenty-five thousand dollar fine, the lightness of the penalty did not come as a surprise to William.

It wasn't hard to figure out that the goveruftient must have agreed to a deal with Rosnovski's brilliant lawyer.

William was, however, surprised to find himself feeling slightly guilty and somewhat relieved that Abel Rosnovski had not been sent to prison.

Once the trial was over William didn't care if Rosnovski dumped his Interstate Airways stock or not. He was still ready for him. But nothing happened, and as the weeks passed, William began to lose interest in the Chicago Baron and could only think of Richard, whom he now desperately wanted to see again. 'Old age and fear of death allows for sudden changes of the heart,' he had once read. One morning in September, he informed Kate of his wish. She didn't ask why he had changed his mind; it was enough for her that William wanted to see his only son.

'I'll call Richard in San Francisco immediately and invite them both,' she told him, and was pleasantly surprised that the word 'both' didn't seem to shock her husband.

'That will be fine,' said William, quietly. 'Please tell Richard that I want to see him again before I die.'

'Don't be silly, darling. The doctor said that if you take it easy you'll live for another twenty years.'

'I only want to complete my term as chairman at the bank and see Richard take my place on the board. That will be enough. Why don't you fly to the coast again and tell Richard of my request, Kate?'

'What do you mean, again?' asked Kate nervously.

William smiled. 'I know you've been to San Francisco several times already, my darling. For the last few years whenever I go away on a business trip, you've always used the excuse to visit your mother, but when she died last year, your excuses became increasingly improbable. We've been married for twenty-eight years and by now I think I'm aware of all your habits. You're still as lovely as the day I met you, my darling, but I do believe that at fifty-four you're unlikely to have a lover. So it wasn't all that hard for me to work out that you had been visiting Richard.'

'Yes, I have been seeing him,' said Kate. 'Why didn't you mention that you knew before?'

'In my heart I was glad,' said William. 'I hated the thought of his losing contact with us both. How is he?'

'Both of them are well, and you have a granddaughter now as well as a grandson!'

'A granddaughter as well as a grandson,' William repeated.

'Yes, she's called Annabel,' said Kate.

'And my grandson?' said William, enquiring for the first time.

When Kate told him his name he had to smile. It was only half a lie.

'Good,' said William. 'Well, you Ay to San Francisco and see what can be done. Tell him I love him.' He had once heard another old man say that who was going to lose his son.

Kate was more content that night than she had been in years. She called Richard to say she would be flying out to stay with them the following week, bringing good news with her.

When Kate returned to New York three weeks later, William was pleased to learn that Richard and Florentyna could visit them at the end of November, which was the first opportunity for them to get away from San Francisco together. Kate was full of stories of how successful they both were, how young William Kane was the image of his grandfather and how they were all so much looking forward to coming back to New York for a visit.

William listened intently and found he was happy too, and at peace with himself. He had begun to fear that if Richard did not return home soon, he never would, and then the chairmanship of the bank would fall into Jake Thomas's lap. William did not care to think about that.

William returned to work the following Monday in high spirits after his lengthy absence, having made a good recovery from Ids second heart attack and now feeling he had something worth living for.

'You must pace yourself a little more carefully,' the clever young doctor had told him, but he was determined to reestablish himself as chairman and president of the bank so he could make way for his only son. On his arrival at the bank he was greeted by the doorman, who told him that Jake Thomas was looking for him and had tried to reach him at home earlier.

William thanked the senior member of the bank, the only person who had served Lester's more years than the chairman himself.

'Nothing's so important that it cant wait,' he said, 'No, sir.'

William walked slowly to the chairman's office. When he opened his door, he found three of his directors already in conference and Jake Thomas sitting firmly in William's chair.

'Have I been away that long,' said William, laughing. 'Am I no longer chairman of the board?'

'Yes, of course you are. Welcome back, William,' said Jake Thomas, moving quickly out of the Chairman's seat.

William had found it impossible to get used to Jake Thomas calling him by his first name. The new generation were all too familiar. They had only known each other a few years, and the man couldn't have been a day over forty.

'What's the problem?' he asked.

'Abel Rosnovski,' said Jake Thomas without expression.

William felt a sick feeling in the pit of his stomach and sat down in the nearest leather seat.

'What does he want this time?' he said wearily. 'Won't he let me finish my days in peace?'

Jake Thomas stood up and walked towards William.

'He intends to invoke Article Seven and hold a proxy meeting with the sole purpose of removing you from the chair.'

'He can't. He doesn't have the necessary eight per cent and the bank's by-laws state clearly that the chairman must be informed immediately if any outside person comes into possession of eight per cent of the stock.'

'He says he'll have the eight per cent by tomorrow morning.

'No, no,' said William. 'I've kept a careful check on all the stock. No one would sell to Rosnovski. No one!

'Peter Parfitt,' said Jake Thomas.

'No,' said William smiling triumphantly. 'I bought his shares a year ago through a third party!

Jake Thomas looked shocked, and no one spoke for sometime. William realised for the first time just how much Thomas wanted to be the next chairman of Lester's.

'Well.' said Jake Thomas. 'We must face the fact he claims he'll have eight per cent by tomorrow which would entitle him to elect three directors to the board and hold up any major policy decision for three months. The very provisions you put into the articles of incorporation to protect your long term position. He also intends to announce his decision in advertisements placed all across the country. For good measure, he's threatening to make a reverse takeover bid for Lester's using the Baron Group as the vehicle if he receives any opposition to his plans. He has made it clear that there is only one way he willdrop the whole plan.'

'What's that?' said William.

'If you submit your resignation as chairman of the bank,' replied Jake Thomas.

'That's blackmail,' said William, nearly shouting.

'Maybe, but if you do not resign by noon next Monday, he intends to make his announcement to all shareholders. He has already booked space in forty newspapers and magazines!

'The man's gone mad,' said William. He took his handkerchief from his breast pocket and mopped his brow.

'That's not all he said,' Jake Thomas added. 'He has also demanded that no Kane replace you on the board during the next ten years and that your resignation should not give ill health or, indeed, any reason for your sudden departure.'

He held out a lengthy document bearing 'The Baron Group's' letterhead.

'Mad,' repeated William, when he had scanned the letter rapidly.

'Nevertheless, I've called a board meeting for tomorrow,' said Jake Thomas.

'At ten o'clock. I think we should discuss his demands in detail then, William!

The three directors left William alone, in his office and no one visited him during the day. He sat at his desk trying to contact some of the other directors, but he only managed to have a word with one or two of them and couldn't feel certain of their support. He realised the meeting was going to be a close run thing but as long as no one else had eight per cent he was safe, and he began to prepare his strategy to retain control of his own board room. He checked the list of stockholders: as far as he could tell, not one of them intended to release his stock. He laughed to himself. Abel Rosnovski had failed with his coup. He went home early that night, only telling Kate to cancel Richard's proposed visit, and then retired to his study to consider his tactics for defeating Abel Rosnovski for the last time, He didn't go to bed until three am., but by then he had decided what had to be done. Jake Thomas must be removed from the board so that Richard could take his place.

William arrived early for the board meeting the next morning and sat waiting in his office looking over his notes, confident of victory. He felt his plan had taken everything into account. At five to ten his secretary buzzed. 'A Mr. Rosnovski is on the phone for you,' she said.

'Wha?' said William, 'Mr Rosnovski.'

'Mr. Rosnovski.' William repeated the name in disbelief. 'Put him through,' he said, his voice quavering.

'Yes, sir.'

'Mr. Kane?'

The slight accent that William could never forget. 'Yes, what do you want this time?'

'Under the by-laws of the bank I have to inform you that I now own eight per cent of Lester's shares and intend to invoke Article Seven unless my earlier demands are met by noon on Monday!

'How did you get the final two per cent?' starnmered William. The phone clicked. He quickly studied the list of shareholders trying to work out who had betrayed him William was still trembling when it rang again, 'The board meeting is just about to begin, sir.'

As ten o'clock struck William entered the board room. Looking round the table, he suddenly realised how few of the younger directors he knew well. Last time he'd had a fight in this same room, he hadn't known any of the directors and he'd won. He smiled to himself, reasonably confident he could still beat Abel Rosnovski, and rose to address the board.

'Gentlemen, this meeting, has been called because the bank, has received a demand from Mr. Abel Rosnovski of the Baron Group; a convicted criminal who has had the effrontery to issue a direct threat to me, namely that he will use his eight per cent holding in my bank to embarrass us and if this tactic fails he will attempt a reverse takeover bid, unless I resign from the presidency and chairmanship of this board without explanation. You all know that I have only nine years left to serve this bank until my retirement and, if I were to leave before then, my resignation would be totally misinterpreted in the financial world.'

William looked down at his notes, deciding to lead with his ace.

'I am willing, gentlemen, to pledge my entire shareholding and a further ten million dollars from my private trust to be placed at the disposal of the bank in order that you can counter any move Mr. Rosnovski makes while still insuring Lester's against any financial loss. I hope, gentlemen, in those circumstances, I can expect your full support in my battle against Abel Rosnovski. I am sure you are not men to give in to vulgar blackmail.'

The room went silent. William felt certain he had won, but then Jake Thomas asked if the board might question him about his relationship with Abel Rosnovski. The request took William by surprise, but he agreed without hesitation. Jake Thomas didn't frighten him.

'This vendetta between you and Abel Rosnovski,' said Jake Thomas, 'has been going on for over thirty years. Do you believe if we followed your plan that would be the end of the matter?'

'What else can the man do? What else can he do?' stuttered William, looking around the room for support.