"I see your point," Tandy answered quickly, "and in any ordinary case it would be sound enough, though of course a company of that kind doesn't depend upon its subscribed capital alone, or even chiefly for its working capital. It is the practice in establishing such companies to issue and sell bonds enough to cover the cost of the plant, or very nearly that. The profits are so certain and so great that the bonds--even at so low a figure as five per cent. interest--go off like hot cakes. But that isn't all. Here in Cairo we shall hardly have to bond the company at all. You see we shall have almost no engineering work to do. In other cities a gas company must dig deep trenches--often through solid rock--in which to lay its mains. Here in Cairo we shall have no digging at all to do. You obser
