A Bend in the River - V.S. Naipaul [122]
“Mostly nowadays, since Switzerland closed down, they are going to the United States and Canada. And they are waiting for them there, to take them to the cleaners. There they meet the experts. The South Americans are waiting for the South Americans, the Asians for the Asians, the Greeks for the Greeks. And they take them to the cleaners. In Toronto, Vancouver, California. As for Miami, that is one big cleaning establishment.
“I knew about this before I went to Canada. I didn’t let anybody sell me a million-dollar villa in California or an orange grove in Central America or a piece of swamp in Florida. You know what I bought instead? You wouldn’t believe it. I bought an oil well, part of one. The man was a geologist. Advani introduced him to me. They said they wanted ten of us to form a little private oil company. They wanted to raise a hundred thousand dollars, everybody putting up ten. The authorized capital, though, was to be more than that, and the arrangement was that if we struck oil the geologist was to buy the rest of the shares at nominal rates. That was fair. It was his stake, his work.
“The stake was in order, the land was there. In Canada you can just go and do your own drilling. You can hire the equipment, and it doesn’t cost all that much. Thirty thousand for a trial well, depending on where you want to drill. And they don’t have the fruits-of-the-earth legislation you have where you are. I checked it all out. It was a risk, but I thought it was only a geological risk. I put up my ten. And guess what. We struck oil. Overnight, then, my ten was worth two hundred—well, say a hundred. But since we were a private company the profit was only a paper profit. We could only sell to one another, and none of us had that kind of money.
“The geologist exercised his options and bought up the remaining shares of the company for virtually nothing. So he acquired control of our company—but all that was in the agreement. Then he bought a semi-bankrupt mining company. We wondered about this, but we didn’t question the wisdom of our man now. Then he disappeared to one of the black islands. He had linked the two companies in some way, borrowed a million dollars for our company on the strength of our oil, and transferred the money on some pretext to his own company. He left us with the debt. The oldest trick in the book, and the nine of us stood and watched while it was happening as though we were watching a man dig a hole in the road. To add insult to injury, we found out that he hadn’t put up his ten. He had done it all with our money. Now I suppose he is moving heaven and earth to transfer his million to some safe place. Anyway, that was how I achieved the impossible, converting ten into a debt of a hundred.
“In time the debt will settle itself. The oil is there. I might even get my ten back. The trouble with people like us, running about the world with money to hide, is that we are good about business only in our own places. Still. The oil was only a sideline. What I was trying to do was to run a movie theatre, an ethnic theatre. You know the word? It means all the foreign groups in a place. It was very ethnic where I was, but I suppose I got the idea only because there was a theatre for sale, and it seemed a nice downtown property to get.
“Everything was working when I looked at the place, but when I took over I found we couldn’t get a clear picture on the screen. At first I thought it just had to do with the lenses. Then I realised that the man who had sold me the place had changed the equipment. I went to him and said, ‘You can’t do this.’ He said, ‘Who are you? I don’t know you.’ So. Well, we straightened out the projectors in the end, we improved the seating and so on. Business wasn’t too good. An ethnic theatre downtown wasn’t such a good idea. The thing about some of those ethnic groups over there is that they don’t like moving around too much. They just want to go home as fast as they can and stay there. The pictures that did well were the Indian pictures. We got a lot of Greeks then. The Greeks love Indian