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Fisher waited for the “Hear, hears” to die down before he continued.
“I have listened with interest to my fellow directors, particularly Mrs. Clifton, who I felt presented a reasoned and well-argued case with considerable passion, remembering her family’s long association with the company. But before I decide how to cast my vote, I would like to hear why the chairman feels so strongly that we should go ahead with the building of the Buckingham at the present time, as I still need to be convinced that it’s a risk worth taking, and not a step too far, as Mrs. Clifton has suggested.”
“Wise man,” said the admiral.
Emma wondered, just for a moment, if she might have misjudged Fisher, and he really did have the best interests of the company at heart. Then she recalled Sebastian’s reminder that leopards don’t change their spots.
“Thank you, major,” said Buchanan.
Emma didn’t doubt that despite his well-prepared and well-delivered words, Fisher’s mind had already been made up for him, and he would carry out Martinez’s instructions to the letter. However, she still had no idea what those instructions were.
“Members of the board are well aware of my strongly held views on this subject,” began the chairman as he glanced down at seven headings on a single sheet of paper. “I believe the decision we will make today is an obvious one. Is this company willing to take a step forward, or should we be satisfied with simply treading water? I don’t have to remind you that Cunard has recently launched two new passenger ships, P&O has the Canberra under construction in Belfast, and Union-Castle is adding the Windsor Castle and the Transvaal Castle to their South African fleet, while we seem content to sit and watch, as our rivals, like marauding pirates, take control of the high seas. There will never be a better time for Barrington’s to enter the passenger business, transatlantic in the summer, cruising in the winter. Mrs. Clifton points out that our passenger numbers are falling, and she is right. But that is only because our fleet is out of date, and we no longer offer a service that our customers cannot find elsewhere at a more competitive price. And if we were to decide today to do nothing, but simply wait for the right moment, as Mrs. Clifton suggests, others will surely take advantage of our absence and leave us standing on the quayside, no more than waving spectators. Yes, of course, as Major Fisher has pointed out, we would be taking a risk, but that’s what great entrepreneurs like Sir Jos
hua Barrington were always willing to do. And let me remind you, this project is not the financial risk that Mrs. Clifton has suggested,” he added, pointing to the model of the liner in the center of the table, “because we can cover a great deal of the expense of constructing this magnificent vessel from our present reserves, and won’t need to borrow large amounts from the bank to finance it. I have a feeling Joshua Barrington would also have approved of that.” Buchanan paused, and looked around the table at his fellow directors. “I believe we are faced today with a stark choice: to do nothing, and be satisfied with standing still at best, or to cast a vote for the future, and give this company a chance of continuing to take the lead in the world of shipping, as it has done for the past century. I therefore ask the board to support my proposal, and make an investment in that future.”
Despite the chairman’s stirring words, Emma still wasn’t sure which way the vote would go. Then came the moment Buchanan chose to remove the pin from his third grenade.
“I will now call upon the company secretary to invite each director to state whether they are for or against the proposal.”
Emma had assumed that in line with the company’s normal procedure it would be a secret ballot, which she believed would give her a better chance of securing a majority. However, she realized that if she were to raise an objection at this late stage, it would be seen as a sign of weakness, which would play into Buchanan’s hands.
Mr. Webster extracted a single sheet of paper from a file in front of him, and read out the resolution. “Members of the board are invited to vote on a resolution proposed by the chairman and seconded by the managing director, namely that the company should proceed with the building of a new luxury liner, the MV Buckingham, at the present time.”
Emma had requested that the last four words should be added to the resolution, as she hoped they would persuade some of the more conservative members of the board to bide their time.
The company secretary opened the minute book and read out the names of the directors one by one.
“Mr. Buchanan.”
“In favor of the proposition,” the chairman replied, without hesitation.
“Mr. Knowles.”
“In favor.”
“Mr. Dixon.”
“Against.”
“Mr. Anscott.”
“In favor.”
Emma placed a tick or a cross by each name on her list. So far there were no surprises.
“Admiral Summers.”
“Against,” he declared, equally firmly.
Emma couldn’t believe it. The admiral had changed his mind, which meant that if everyone else stuck to their position, she couldn’t lose.
“Mrs. Clifton.”
“Against.”
“Mr. Dobbs.”
“Against.”
