Chapter 38

At last Ginny was able to leave Jenny. She went back down through the kitchen where she put an arm round James's shoulder and hugged him.

"We won't let this happen," she said softly, "so stop worrying."

James looked at her in surprise.

She gave him a peck on the cheek. "Promise," she said.

She rejoined her family all of whom looked enquiringly at her. She sighed. There was no way they were going to be fobbed off after that outburst.

"Venture are in financial difficulties and are selling off pubs. This is one of them and the Jays can't afford the freehold which means they're out in six months' time. I've promised them they won't be."

"Damn!" said Henry explosively. "It's been hanging over their heads for the best part of a year," he explained to the Cavendishes, "but they haven't let it affect them until now."

"How can you promise them they won't be out?" Henrietta asked Ginny.

"We're jolly well going to find the money for them."

"Remember what I said, darling," warned Henry. "James is much too proud a person to accept what he might consider charity."

"Don't worry. It'll be a business proposition. I'm going to talk to Rod in the morning."

She did. Rod sighed. "Oh dear, so it has come to this. What sort of money are we talking about?"

"£100, 000. Venture want four-fifty. The bank would provide three and the Jays have got sixty."

"Even though interest rates are low at the moment they'd be paying back close on £1,350 a month. Can they afford that? And how much are their backers going to want in addition?"

"I'd hope the backers wouldn't want to make a profit, just recoup their loans plus interest at the bank rate over an indefinite period."

"Hmm! Any idea what they're making at the moment?"

"Jenny said thirty two grand this year."

"Did they? Well done them with the recession! The bank rate is only 0.5 per cent at the moment but it's bound to rise again. Let's say it went up to one point five in a year's time, the lenders would want a hundred and twenty five a month so the Jays would be repaying at close on fifteen hundred a month. That's eighteen thousand a year leaving them fourteen thousand before the taxman grabs another three."

"Oh dear," said Ginny. "This is going to be a lot more difficult than I thought."

Rod nodded. "I'm sorry to be such a killjoy," he said, "but we have to face up to realities. I'll tell you what. I'll draw up a spreadsheet which shows us all our options from what we've discussed now, to people paying the whole whack less what the Jays can put up. I don't think it'll be very cheering," he added gloomily.

"Thanks, Rod. At least you're being realistic, blast you. I'll go away and do a bit more thinking." She grinned. "Possibly a bit more realistic thinking."

Rod smiled. "And you're not going to renege on that promise either, are you?"

"No, I'm bloody well not."

"Good for you. You know I'm on your side, don't you?"

"Never doubted it, Rod dear. Just a realistic, bloody banker."

She smiled and kissed his nose. "Good spreadsheeting!"

She was depressed though by that conversation and had nobody to talk to when she got home. Henry had gone to a hunt committee meeting.

No less than ten minutes later the telephone rang.

"Hello?" she said. She could not bear to say 'Lady Everleigh.'

"Lady Everleigh, it's Court."

"Hi, Court. Ginny and what a nice surprise. What on earth are you ringing me for?"

There was a snort at the other end. "Thank you, Ginny. I'll give you one guess."

"The Jays."

"Right! What are we going to do about them? Jean is in a hell of a stew and Libby's not far behind."

"I don't exactly know at the moment, Court. I promised Jenny that it would never happen but now I've talked to Rod everything seems almost impossible. But a promise is a promise."

They talked through the figures.

"I see what you mean," said Court. "It's a bugger."

"Too right!"

"Give me a couple of hours. I'll have a word with my father. He's here for the weekend."

"What good will that do? He's not local."

"No but he's spent quite a lot of time down here since he ditched the last bitch and has grown to really like the Crown. He thinks the world of the Jays and he loves the food. I think he'd hate to see them go down."

"Oh, Court, do you really think so?"

"Yes, but no promises."

"Of course not."

Court relayed the situation to Ewan and Libby. When Court finished Ewan sat silently in his chair staring at his feet. Neither of the other two said a word. Finally, he looked up.

"Ginny Everleigh is right," he said decisively. "It would be a major blow to the village but, more importantly, the Jays do not deserve it. They have and are doing a brilliant job and they should be rewarded, not smacked in the teeth. Now, on a profit of £32,000 they are going to be paying about £5,000 income tax. What about their council tax? Are they including that in business expenses?"

"I'd have thought so," said Court.

"OK. Assume they do. I reckon they could afford comfortably to pay off a loan at £10,000 a year, don't you?"

Court and Libby nodded.

"I also think they should put most but not all their savings towards the purchase. They need rainy day money. You say they've got about £60,000. What about them putting up £45,000?"

Again Court and Libby nodded.

"That means we've got to raise £405,000."

"That's still an awful lot of money," murmured Libby.

"It is, my dear, but if people really want to keep their pub and the Jays it's not unreasonable. Right, now this is between the three of us, you can tell Ginny that I will make up the difference to a maximum of £250,000. In fact, I'll make up the difference willy-nilly but that's our secret."