Negotiations for Settlement. 149

certain, and cannot be obtained withouta great deal of trouble, and the fullamount thereof will most likely notbe collected ; and for these and all otherreasons hereinbefore mentioned, thequestion as to what arrangement shouldbe made with the Company, in view ofan early cash payment by it, wouldnaturally resolve itself into a considera-tion of what reduction ought to be madeby your clients from said maximumamount of their alleged claim.

“ I would suggest that this reductionbe made from the amount of the inter-est claimed. Aside from the foregoingconsiderations in favor of said sugges-tion, others of an equitable nature mightbe urged, such as that nine hundred andthirteen thousand eight hundred andsixty-two dollars and ten cents($9i 3,862.-10) is under all circumstances an enor-mous sum to pay for the use of $997,-862.52, the whole amount of which hadnot in fact been loaned to the Companyuntil November 12, 1883 ; and even if weshould concede that a charge of 12 percent, interest may have been justifiablewhen the earlier installments of the loanwere made, owing to the nature of the se-curity at that time and the rate of inter-est then current in Nevada , the samearguments would certainly not applysince the work has been completed, and