The San Francisco Call. Newspaper, April 1, 1906, Page 4

yrn—axes or lightnin'—but I mis- in' will do the job. That's his way when he has a fight on hand, and kinder looks like he had his off in this 'ere scrimmage. You'll the fur purty soon I reckon. He as how he wanted to see us , and that's why we're here. You're all right, young "un. Don't worry about Mister Bill. He’ll be here in time no kind of doubt, and if he ain’t he’ll be where he orter be.” e young man, however, was far from being reassured by these unqualified ex- s of confidence on the part of the g Westerner, who seemed not to serious nature of the situa- coat easy-g. realize the ow’'s the little missus?’ inquired Dave, abruptly changing the subject, a road grin spreading over his rough ronzed face. “There's a rare little filly, »—they don't grow out our way gait. I'd like mighty well to her back with me, but I'm feared she'd buck and cut up troublesome like. Wouldn't like to give her up nohow, I ss?” he queried, good naturedly. 'Set down and make yourself to home, £ 'un—ain’t nothin’ to worry about,” Joe, quietly amused at the fil-sup- pressed impatience of the youth which kept him pacing nervously back and forth looking at his watch at short intervals. “Have a smoke?” he ingenuously in- quired, offering Jack a clgar which that young man wisely declined to negotiate. I "Jowed it war a little heavy for your weight. Dave and m¢ likes "em as bites, when we don’t have our old pipes. We ain't no highfalutin notions, but we sort of agreed we wouldn't smoke our old stokes on this "ere trip. They don't look none too good, and then agaln, maybe dy would care so much about havin’ d—o# us either. We're rough there's a heap of things now, but when we take a shy 's country we're as de- e know how to be same as we t him to be when he comes on to our k step was heard in the hall and suddenly appeared, much to relief. *Hello, Jack! Morning, 1 see!” greeting his eery good nature. ive you a elgar, Jack?" rolled back the cover his desk. “Personally, I never take es with those cigars. Dave oc- seems to think that I need an and prescribes ome of his dry dopes, which I indulge by proxy through Joe “Al was his ght, Jack—much obliged,"” What do you want of us, Mister Bill?"” inquired Dave. “I called & meeting of the board this ng—two or three questions to be dered. You need not go, Jack. This secret he laughed, ‘ormal discussion. Before you will be richer or u get us down here to tell us all Dave inquired, rather disguestedly. “You might have waited till night, and then you'd know all about it, for sure.” position is too well taken to ad- argument, David. The thought to me, however, that less em- might result 1t I told you rning that your worldly posses- might take wings during the day to be compelled to inform you to- that they had actually flown. a technical difference, to be sure.” ou don’t 'pear to be worryin’ much elf. When you get oneasy, time for me to get nervous,” replied . here,” saia Joe, “What are the views of the board con- rning settiement should we succeed in opponents—" ‘em hell!” vigorously de- Bishop, bringing his chair floor with a resounding ve ‘em enough to keep em busy on their own claim ’tending to their own busin for a spell, and let other folks alone. Glve 'em the same as they give us, and T'll be satisfied. Any man orter to be willin' to take that! “Sure thing!” chimed Joe. “We are bound to recognize the fact, wever, that in forcing a settlement be- d certain Hm! we may lose all that might gain by more moderate de- mands. Now is it desirable to take unnec- essary risks for the sake of paying old scores? Dave down on the whack. “I say you say goes, Mister Bill,” Dave. “We're in this thing to see her through, and we ain't no quitters and no kickers. Then agein, we ain't so ¥ to corral all the dust in sight. We want what belongs to us, and we t objecting to purty fair interest, and methin® or other, maybe, for 1 can manage to land them fel- few good sockdolagers where do the most good—jest compli- like, to iet 'em know we ain't forgot what they've done for us In the same way—the boys won't offer no ob- nd it will kind of please 'em, they ain't here to see the the frankly expressed opin- . Sutter. “Now, then, gentlemen, there is another aspect of the case we are also bound to consider,” Waldron told them. “Sup- pose we suddenly find ourselves con- fronted by an overwhelming force, and it is a case of—well, hands up?’ “Ain't never seen you threw up your hands Mister Bill,” sald Dave, with supreme assurance. “Nor me, neither. and T don’t cal'late as how I will in this 'ere fracas,”” Joe opined, with equal complacency. “Thank you, gentlemen!' laughed Wal- dron. “Your compliments are as grat- ifying as they are unnegotiable, the voice of the meeting seems to be unani- mous that we give 'em hell—so far as may be consistent with our own safety. Hae the board any further suggestions to offer?” 4 a one!” said Dave. " assented Joe. ¥ well, gentlemen, the business of the meeting is transacted. Our next of- ficlal duties will presumably be in the nature of obsequies of our friend the enemy, or—our own. I trust you will be hand in case I am compelied to offer ¥ up as a sacrifice,”” he told them, with brutal candor. The meetings of the full board of di- rs of this unique company differed e except in the number of partici- pants from the informal affair just re- corded. In all respects were they marvels of simplicity. The meetings were attend- ed under protest, and considered very much of a nulsance by the majority of the members. “The doctor ordered—look pleasant and take your medicine.”” was the oft-repeated reply of the young pres- ident to the good natured grumblers. Was it another stamp, another engine, matters of finance or law—of which there were complexities innumerable—this, that or the other, the questions invariably re- solved themselves into “All right, Mister Bill” “Anything you say goes,” *“Same here,” "me, t00,” with the regularity of a packed caucus. “¥ou see. Jack, we are not long on formalities,” Waldron remarked to the young man, who had been watching this impromptu aisposition of weighty busi- ness affairs with amused interest. “Dave and Joe are great sticklers in matters of parliamentary procedure—on the short side. They, believe that brevity is not alone the sole of wit, but the spirit of life as well. They are thoroughly con- vinced that even fractions of seconds are conducive to life and health, especially when epinions differ as to the relative value of two lives. Theirs Is not a theory but a fact—themselves the evidence.” These ofthand observations were brisk- ly and affably delivered in the intervals between telephone calls, dispatching of several messenger boys and rapid scan- ning of papers, all without apparent haste or uncertainty of thought or ac- tion, but rather, creating the Impression of greater capacity should occasion re- quire, which caused the young man, who had never seen his friend under stress of business, no little wonder and admir- ation. b Notwithstanding all this, the young man had grave doubts as to the outcome of the impending conflitt, as he knew only too well the countless difficulties and unforeseen obstacles continually arising to frustrate the best lald plans. He could but feel that the contending forces were vastly unequal; in short, the old, old story of insider against out- sider, and precedent had long decreed but one almost inevitable result—demor- alization, if not total annthilation of him who rashly assatled these well-nigh In- vincible forces in their own stronghold. The young man too little understood the rigorous training these men had under- goue to intelligently apprehend the cause of this blind faith and careless indiffer- ence. He was not aware that every nerve, bone and sinew in their bodies had been inured to hardship, and their men- talities steeled to self-control through years of conflict with men and elements in their wildest and most turbulent forms. These men carried their lives in their hands (so to speak) and the same fear- less hearts that had enabled them to contend against greater odds for heavier stakes would not fail them in their pres- ent struggle to gain possession of their own, and perhaps meet out just retribu- tion to the despollers of their rights and property. Or, should faflure be their por- tion, the same indomitable wills would place them on their feet ready for an- other and a harder struggle. “Lining up!” Jack remarked, senten- tiously, noting the time, as the ticker emitted a few ominous ticks. “They’ll be off in a couple of minutes.” “All right, Jack,” said Waldron, “stand by and let us know how they get away. If she begins to slide give Dave and Joe the word. They will have urgent business with a couple of holes in the ground, if 1 am not mistaken. Any old pea-pod will be about my size,” he added, under his breath, as he seated himself at his desk. “They're off!” Jack suddenly anriounced. “Here she comes—first rattle out of the box—five hundred N. M. C. P. at thirty- nine—three hundred—five hundred at an eighth—two hund ed—one hundred—same same—three hundred at a quarter—five hundred at a half,” ne called, sometimes continuously, and again at intervals, as the tape recorded the transactions. “‘and she’s holding all right!” he declared, con- tinuing to call off varying quantities and prices. “That's right, Jack—that's what I want to kriow,” sald Waldron. To the young man this clashing of finanecial forces was fraught with deep significance; he viewed it from a totally different standpoint than did the older men. To him it was the natural order of things—ghe way of life and living—and to the victor would belong the spoils. It was his education—the training he was undergoing each day—the routine of his business. As he eagerly scanned the characters on the tape his flushed face and snapping eyes betrayed the ex- citement under which he was laboring. In spirit he was at the side of the arena. He could see the crowd of excited and perspiring men pulling, pushing and el- bowing each other about, the while they gesticulated and shouted wildly and hoarsely in thelr frantic efforts to make themselves heard above the deafening din. He could hear the sharp piercing cries of triumph rising above the groans of chagrin and yells of derision as the conflict waged fiercer and flercer. He could see their flushed and pallid faces taking on a deeper hue as the battle turned for or against them. He could read in thelr strained and set features the fearful struggle of overwrought mentall- tles—some weak and protesting, others bold and deflant—each intent upon the conquest of his fellow man. He breathed the excitement—he was one with them; he wag on the side that was shouting tri- umphantly today, but tomorrow—let to- morrow care for itself. “They’'re coming along with a clattér— just falling over themselves to head off old Consolidated,” he cried. “They will discover a dark horse in the race before long at the pace they have set,” Waldron quietly observed from behing his desk. hat's the Burrows combination try- ing to make a runaway race of it—that's his system. He goes after ‘the crowd from the jump, and runs them to a stand- still, and then comes on and wins as he likes. But he's found a pacemaker to- da; cried Jack, exultantly. “They are simply playlng into our hands to force the pace,” was Waldron's brief comment. ““Hoop! But they're holding a hot pacel” cried Jack, beside himself with excite- ment. ““The harder they lash her the faster she goes—she’'s taken the bit in her teeth and is running away with them. Forty-one, Mister Bill—half—three- quarters—seven-eighths—forty-tw he called, in quick succession, dancing up and dewn in his excitement. “Your men are taking it in as fast as it comes along. Forty-three now, anu slowing up a lfttle. They have just about discovered the dark horse.” “They're cutting lodse again,” cried Jack. “Getting their second wind and coming at us once more! It's come! Help! Help! Mercy!” he fairly shouted, unable to control his excitement. “What!” he cried, scanning the tape incredulously, “is this my little railroad bobbing up and down like a new spring bonnet—the N. M. C.—Mister Biil?” “The same,” briefly replied Waldron. “Want to part with your pictures at pres- ent quotations?” “Slowing down again!” Jack announced, after a while. “‘Mr. James T. Burrows will begin to think that the moral law is a stern reality—if nothing breaks.” “His acquaintance with anything per- taining thereto is so extremely limited that he must needs butt up against it a few times before he realizes that the Bur- - rows code is not in operation in this pa ticular transaction,” Waldron grimly ob- served, apparently more to himself than for the edification of his companions. ‘Whatever may have been the condition of the enemy, Waldron, to all appear- ances, held his forces well in hand. He had made numerous rapid calculations, offered occasicnal replies to Jack's run- ning fire of Information and comment, THE SAN FRANCISCO SUNDAY CALL. and was ever ready with clear and con- cise rcplies for his brokers, confined for the most part to “yes,” ‘no” or “all right,” delivered seemingly without the slightest doubt or hesitation. Whatever the outcome of the struggle, be it said to his credit that he fought a good fight aad in all ways showed himself to be as cool under fire as the most intrepid vet- eran of finance. “Any idee, Mister Bill, who started that 'ere slide to workin'? some purty toler'ble rocks 'pear to be comin’ down,” Dave was finally moved to inquire. “Do you remember that night over on Devil's Ridge that we treed the cat, and you brought her down?” inquired ‘Waldron, completing a calculation, be- fore interrogating the other by way of reply. “Sartin, I do.” “Did you see her?” “Can’t say as how I did, Mister Bill, but I spied a couple of green lights, and I 'lowed the rest of the cat couldn’t be t_‘u off, and I let go—and she drop- “Felt tolerably sure of bringing her down?” “Fair to middlin’, I reckon.” “Well, Dave, that is just about the present state of affairs. I followed sev- eral trails and finally succeeded in tree- ing the game. The game, however, was not aware of the fact, and is only now discovering that it is up a tree. Like our cat, it cannot comeé down and the top of the tree is the limit In the other direction. I have let go, and I expect something to drop before long.” “Moving again!” Jack announced. “They are throwing it at you in blocks, —thousand—two thousand—thwee thou- sand—but it's moving steadily up—for- ty-five now, Mister Bill,” he cried with increasing excitement. “They are trying to break our backs in a final effort—it's their only hope,” quietly replied Waldron. “If my cal- culations are correct they have thrown over all the stock in their possession and are now selling something they do not possess—and which they will find .considerable difficulty in delivering,” he added, significantly. “Forty-seven!” cried Jack. “They have stirred up a swarm of bees with all thelr racket and brought the dear public in to enjoy a sip of their honey— the lambs are avenging themselves to- day. “Their assistance has been most timely—they will be duly rewarded,” ‘Waldron briefly observed. “Ah, I see!” laughed Jack. “While you were quietly cornering the stock and steadily raising the price you were creating an Interest on the part of the public that brought it in to take a hand when you began to jump the price up today—it was the signal for all hands to go aboard. Result—Mr. Burrows has been caught in his own trap. He must have been surprised at the rav- enous appetite the public suddenly de- veloped for Consolidated Properties. Forty-nine—and still going.” “I reckon some feller's tongue may be hangin’ out about now, Mister Bill?" Joe suggested, as the other concluded a conversation over the telephone. “None visible here, Joe.” “How is.it, Mister Bill, if the var- mints get good and cornered, can they sneak off into: any holes where you can’t getat 'em?” inquired bloodthirsty Dave Bishop. “Well, yes, Dave, such a possibility does exist; but the holes Into which they would be compelled to slink are rather disagreeable and ill smelling places of refuge, and they will stand considerable profding before turning tail.” “Stopped short, Mister BIH!” Jack suddenly cried, closely scanning = the tape fearful lest something had es- caped him. “What's happened?” he de- manded, quite startled, ‘They have suddenly discovered themselves trapped,” coolly replied Waldron, ‘“or,” pausing with ominous suggestiveness, “they have scented mis- chief and stopped short on the very brink of the pitfall.” That the enemy had been beaten in the preliminary skirmish was now ap- parent. The temporary control of the market had been wrested from him— the sudden withdrawal of his forces the acknowledgment. So far all was well, but unless he had walked well into the trap lald for him no permanent advan- tage had been gained and he would be the same old enemy goaded to greater fury and desperation In thus being balked of his prey. For a brief interval no word was spoken. The ticker clat- tered on spasmodically. Each man was busy with his own thoughts; euch real- ized that for better or worse—for vic- tory or defeat—the deciding blow had been struck. But one, bétter than the others, knew the meaning of that vie- tory or defeat. The sense of his re- sponsibility came suddenly home to him; for 'the moment he was as the gambler who stakes his money, his home, his reputation—his all—on the turn of a card—and that card is with- held from him. “Shootin’ all over, young ’un—or Toadin’ up for another scrimmage?”’ asked Dave, finally breaking the silence. “‘She’s climbing up fast on slow sales ~~how is that for a paradox? Gubss they threw a fit when they found they couldn’t budge old Censolidated, and your men are putting her up where the dead won't be tempted to rise until you are ready to take the corpse off the ice,” said Jack. “Young ’un,” laughed Dave, “you know a lingo all your own like Joe and me, and if you say the word we'll take you out on the range with us and make a man of you.” “There’s a paradox for yom, Jack,” sald Waldron, considerdbly amused at the rather questionable compliment be- stowed upon the young mah. “Joe and me are goin' out to stretch up a bit, Mister Bill. You think as how we might get a nigh squint at that ’ere corpse?” inquired Dave, “I am not quite sure ‘that the corrupt body is prepared to admit its defeat, but if syou happen around in the course of an hour or so the ghost may be walking—provided that life is really extinct,” sald Waldron, with due con- servatism. “That’s right, Mister Bill. You ain’t never sure of some chaps till they" planted. We'll be back, sartin, sure. CHAPTER XXIX. ‘Who the Devil Are You? Some time later Waldron, the sole occupant of his office, was busily en- gaged at his desk, when the door was suddenly thrown open, and four gentle- men ushered themselves In without ceremony. The. foremost, none other than Mr. Burrows—evidently in no very amiable frame of mind—followed by. Mr. Morrison, Mr. Lowe and Mr. Chad- eller, in the order named. The entrance of these gentlemen seemed not to sur- prise the lone occupant of the office, nor to interest him to the extent of taking his attention from the array of figures before him. “I wish to see the president of Con- solidated Properties—Burrows is my name,” that gentleman announced, somewhat pompously. “Yes, sir,” replied the individual ad- dressed, apparently not deeply Iim- pressed by the declaration. “My business is important—I am in something of a hurry, young man,” the portly financier impatiently declared. “What can I do for you, Mr. Bur- rows?" was the affable inquiry. “My business is with the president of the company—I wish to see him.” “Your wish is gratified, sir,” replied ‘Waldron, laying down his pen, and set- tling back in his chair, “How can I serve you?” “Your pardon, sir—I had expected to find an cider man,” replied Mi. Burrows, unbending somewhat, and’ manifestly surprised as he recognized the man be- fore him. “We have called upon you, “sir,” he continued, with characteristic assurance, “in reference to the stock of your company. You are doubtless aware there has been something of a skirmish in the stoek this morning— taken quite an upward turn in fact. There seems fo be a temporary shortage of the stock, and we wish to arrange with you for use, or outright purch: of sufficient to tide us over the presen embarrassment. In the meantime, we may be able to come to some under- standing whereby each may serve the best interests of the other in future transaction: “We are not selling, Mr. Burrows— we are buying.” “Ah, 1 see. It is your people who have rum the corner? Your brokers were rather non-committal as to the identity of their prinecipals. Not so bad, after all,” he laughed, forcing a certain assumption of levity. “Rather fortunate on the whole, since we can kill two birds with one stone-—arrange this little matter of the present, as well as a basis for future operations. The time is now ripe for a good turn—" “‘One moment,-Mr. Burrows,” Waldron quietly interposed. ‘“Matters- may be somewhat simplified if you are made to understand that The Consolidated Properties are now managing their own affairs—exclusively. It has been con- sidered advisable for good and suffi- clent reasons to take the stock practi- cally off the market, at least for the present, and to that end we are buying —not selling.” The surprise of the other visitors as they recognized the man with whom they were compelled to deal was even more marked than in the case of Mr. Burrows, and if not positively embar- rassing, was far from reassuring. Mr. Chadeller was not only surprised, but visibly annoyed, and for a moment seemed undecided whether to beat retreat or to stand his ground, but he finally set himself to pacing back and forth™ across the opposite side of the office. Y 7 “We have called upon you, my dear sir,” replied Mr. Burrows with his most impressive dignity, “to arrange an ami- cable adjustment of the matter whereby you will profit not less than ourselves, and you will find upon looking the situ- ation over carefully that our interests are too closely allied to warrant or even to permit you to ignore our proposi- tions—" . “We evidently do not understand each other, Mr. Burrows,” Waldron again quietly "but firmly interposed. “T will endeavor to make myself .perfectly clear. u have favored mé with your ‘presencey sim becapse no other course 1§ open to you. You haye fired’ your last shot, and instead of hauling down your flag like men and asking for térms of surrender, you would have me belieye that you are doing me a very great favor by crawling out of the corner in which you hdve so unex- pectedly found yourselves, and where 1 am holding you like rats in a trap. Failing in this, you would intimidate me by a bluff, which only too painly for your purpose echoes the hollowness of your knowledge that the game is up, and you are simply grasping at the last straw, which you do not flatter me by inferring is my timidity and credu- Hty. Am I clear, gentlemen?” “Surely, sir,” replied Mr. Burrows, with considerable warmth, ‘‘you are la- boring under a misapprehension of the conditions—you simply do not grasp.tha situation in all its bearings. As a matter of fact, we are far more necessary to you in this matter than you are to us. You bave a great amount of stock on your hands, and bargained for, which is practically without value, as representing substagtial equivalent. Your mills are closed and—to be perfectly frank—your company and property worked out flat, which you also know, if you are well informed and will admit «.e actual condi- tions. It is, therefore, manifestly to your advantage to unload this stock while you are able to take a flattering profit, and we can assist you to do this to our mu- tual advantage.” “Notwithstanding which, the company elects to take the chances of maneging its own afairs,” said Waldron, with quiet decision. ‘“You have chosen in times past to force yeur assistance upon us. We bave declded to dispense with your at- tentions, and have adopted the most ef- fectual means of ridding. ourselves ance and for all of associates not to our liking. 1 don't mind telling you that the mills were ghut down yesterday for your es- pecial benefit. You bit—ran away with the line. I don't mind telling. you also that I have been working for several weeks to bring about this particular re- sult, and I don't need to tell you how well I have succeeded." Rage—purple, ungowernable rage—ap- peared in the rapidly changing expres- gions of Mr, Burrows' face as he gazed at the young man who had so boldly de- fled him, too surprised for the moment to glve expression to the conflict of pas- sicn that shook his ponderous frame. Was he, the great and proud man of finance; to -go down in defeat before this youthful stranger? Was he to be igno- minfously humbled before the world—his world—where he ruled with a mighty power, and where he had comé to regard himself as well nigh invincible? In that one brief moment the long line of his unbroken victories on which he was wont to pride himself seemed to pass before him like mocking specjers of his erst- while greatness—they were as naught compared to this one defeat. He could never live it down. His name was a power—it was synonymous with success; hig was the magic touch which brought victory out of defeat. He gloried in his power, he exulted in his success. He was jealous of his reputation as a success- ful financier. His ruling passion was to become the acknowledged leader—the high potentate—in the world where money was king, and where mankind was but the plaything of his caprice. Whipped though-..e was, he could not tamely sub- mit. The animal in him must find ex- pression—he bellowed. “You don’t know me, young man! You have a great deal to learn, let me tell you —you are only a boy in this business,” he thundered, shaking his massive fist. “In the temporary advantage you have gained simply because no attention has been paid to your movements with your ‘whipper-snapper mines you think that the game is yours. It is only just hegun— you hear me—just begun. Before you have done congratulating yourself you will find the ground pulled from under your feet, and you will be begging for mercy where now you filng back a well- intentioned proffer of assistance. Who the devil are you, who thinks to come here and dictate terms to men old enough to be your fatheri Who are you, I say? I want to know you, young man, and I'll teach you a . “I'll tell you who I am,” the other flashed back, his volce and manier un- deorgoing; 2 sudden change. as na ad- vanced toward Mr. Burrows with no un- certain movement, causing that gentle- man to pause abruptly in his speech and fall back a step or two, for even in his anger he had no idea of measuring strength with this young stalwart. “Wil- ilam Waldron, is my name, Mr. Burrows. Charles L. Waldron, a man you ruined and sent to his grave by your damnable schemes and unscrupulous methods that make an honest man but a puppet in your clutches, was my father. efore we have done with each other I venture to say that your desire to know me will be gratified beyond your most sanguine expectation: That is how I fear you, Mr, Burrow: “And so after many years the son has returned to avenge his father—true to fiction, Indeed!” sneeringly replied Mr. Burrows, too surprised at this unex- pected turn of affairs to maintain his belligerent attitude. “Codes differ, Mr. Burrows. Some man- age to evade that which they richly de- serve, and are successful men—others less fortunate, ars rogues,” replied Wal- dron, very shortly, evidently not in an ar- gumentative frame of mind. “I have not, as you suggest, returned in the role of avenger. However, as it was to be, [ would rather see you, of all men, In the\ particular position you now occupy—my duty is less disagreeable ‘“Well, what do you ask?” growled the discomfited financier, with exceedingly poor grace. 3 “I don't ask anything. My dealings with you, sir, are in the form of de- mands. Were I in a position only to ask, you would not trouble yourself to in- quire,” replied Waldron, with cool eom- posure, meeting the other on his own ground, ‘“Consolidated Properties are now quoted at sevent sald Mr. Burrows, scanning the tape. “You will make us a basis of settlement considerably less than that figure—the quotation is a mere detail,” he declared, with Impressive urance. ‘Hardly, MY. Burrows—in fact, not any- thing like the present quotation. The quotatioh, as you say, is-a mere detafl, and will shortly be higher—very much higher. I can make it a hundred, two hundred, three hundred or five hundred, it I choose, as you know very well."” “Do you mean to rob me?” roared the outraged financler, hi§ anger instantly st white heat. “It that ig your interpretation when you apply the same treatment to others in a- similar posifon to yourself I havt no ob- jection,” replied Waldron, indifferently. ‘“Another interpretation, however, might be that I propose to recover some of the money you have taken from us at varl- ous timcs, some recompense for trouble and annoyances, interest—" ’ “I won't stand it, sir—I won’t stand it! TNl see you hanged before I'll submit to such an outrage! I'll see you—" . » “‘All this is entirely aside from the point at issue, Mr. Burrows," interposed Wal- dron, stemming an increased outburst of anger on the part of the infuriated gentle- man. “My brokers are in possession of the terms of settlement. You may ar- range the matter with them or not, as you choose. Of the alternative, you are well aware. Within an hour from your refusal of settlement the telegraph will tell the world of the uhenviable position Burrows & Company have made for themselves. Pcssibly an extra or two may be fssued in your honotr, and every news urchin in the country will ery your—" “I don't believe you could pay for the stock if we delivered it! I don’t be- leve—" *“Your position certainly behboves you to make the experiment, Mr. Burrows, and when we fail you will be relieved of an embarrassing situation,” Waldron at onee interposed, to the evident discom- fort not only of Mr. Burrows, but of his faithful . followers, who up to this time had refrained from taking any active part in the conversation, and to whom it was now apparent that their purpose was not being subserved by the bluffs and threats of their angry leader. “‘Surely, Mr. Waldron,” sald Mr. Mor- ri=on, in his suavest tones, “surely there must be some way to an amicable ad- justment of this matter. Can you af- ford, even though you may possess some temporary advantage, to entirely ignore the proposition we are making you? The arrangements we suggest ¥ill make you a great deal of money—a very great deal —which your directors may not feel in- clined to rashly cast aside. I have no doubt that money is a consideration to them ag well as to us all,” smiling bland- ly. secmingly well satisfled that he had advanced an incontrovertible argummet. “My directors are in full accord with me in this matter, Mr. Morrison,” replied ‘Waldron, with cold formality. ““We are sometimes carried away by the impetuosity of youth,” continued Mr. Morrison, appareiitly not too well pleased with the result of his first effort. “Youth 1s the time of hope and confidence and we are prone to overestimate our -strength in the light of some slight success achieved. We older men have long since learned the lesson that youthful impet- uosity and overconfidence teaches, and we are satisfied to accept that which comes within our reach today, rather than to bulld castles in the air for future occupancy, only to find them crumbled to pieces by furces we could not foresee. Perhaps, sir,”” pausing for a moment and smiling with elderly indulgence, “you have men of mature years on your board of directors whose ideas would not differ from those which I bave expressed, and who—to use A nomely simile—would prefer 8 bird In the hard to several in the bush. ‘We have not talked the matter over among ourselves, but ! am quite sure we could make it to your Interes personal Interest, understand were to favor this idea with your direc- tors, which wiil net you a very handsome sum entirely apart from the original deal in which your company will profit none the less.” “I also had a similar thought In my mind.” sald Mr. Lowe, with patronizing affability, “Mr. Waldron has shown Him- self a young man possessed of .most ex- ceptional ablilitles, and I am th convinced that we should make him some very substantial inducements to combine forces with us. All things con- sidered, he seems a man pecullarly adapted to our particular requirements. entertained a very great Young blood—we need young blood to assist in handling the tremendous en- terprises which are now the order of the day In_ these strenuous times of ours. And I may also add—and in this, gentlemen, I am sure I but veice your heartiest sentiments,” deferring to his companions, “in forming business re- lations with us, Mr. Waldron, also be- comes one of us socially, and I trust,” smiling benignantly upon the young man, “he will not decide hastily, but will give the matter further and very serious consideration.” “Thank you, gent)emen—thank you!" replled Waldron, regarding the men with something of amused pity and con- tempt. "I cculd not possibly consider your proposition for two reasons—the first annuls the second, and the second you would hard)y comprehend.” “We have a fairly good understand- ing of ths commonplaces, Mr. Waldron, and I dare say we shall be able to grasp your meaning,” replied Mr. Burrows, gravely sarcastic. “When, then, the first, becauss I agree with Mr. Morrison perfectly—I have too good a possibility In my hand to drop for several in the bush. You doubtless understand that without difficulty, Mr. Burrows. As I sald before, the first an- nuls the second. Know then, that as- soclated with me in this enterprise are men of the mountains, rough fellows all, but true as steel. These men have intrusted their all to ms with implicit confidence that I will look after their interests to the best of my ability, and— this, gentlemen, will be the anomaly to you—your combined wealth doubled and trebled would be no inducement for _me to make one move that I did not honestly believe was for the best in- terests of all concerned. Your gold would not repay me for betraying their confidence. I take no credit to myself— 1 don't kvow any other way to figure the general problem. I sim- ply don't know how to held gold at a higher value than I hold my self-respect. When I sacri- fice that, then shall I consider myself your equal and prepared to listen to your glittering schemes of business, your suave blandishments for social distinction, drink your wines and rate myself a bully good fellow according to your peculiar standards. Gentlemen, I consider your propositions not only an insult to me as a man, but an exceed- ingly small and cheap estimate upon my business perspicacity. The former I might overlook, considering the source, but the latter is far too grave an offense to be lightly condoned, told them, with a grim humor that ac- corded well with the equally grim sar- casm-of his words. Altogether the gentlemen had re- celved a mos: uncomfortable shock as they realized the utter futility of at- tempting to work thelr influence over the man who compelled not only a cer- tain respect for Wimself as a man, but feelings akin to fear by the power he held over them. “W-h-0-0-p! W-h-0-0-p!” suddenly rang out two blood-curdling yells, ‘which seemed to cause the 1s and ceiling to vibrate and give back an- other, and yet another of their kind, creating no little dismay among the occupants of the room, who were thus rudely made aware of the presence of two very animated specimens of West- ern life and vigor. Dave and Joe had entered the office unobserved, and ths concluding remarks of their young friend struck a responsive chord in their robust bosoms, to which tluey gave promp: and informal expression “Solemn enough to Le corpses! Don't see as they look no different from any dead men as come to life and sorry they did,” said Joe, scanning the gen- tlemen curiously with his sharp eyes. “I reckon, Mister Bill, seein’ as how they've finished their business they're about ready to go down the hist,” said Dave, with suggestive emphasis, which query the gentlemen answered for themseives by making as hasty an exit as thelr .dignity—or what remained of the superabundance they brought with them-—would permit. All except Mr, Chadeller, who throughout the inter- view had maintained a discreet silence, seemingly not vitally interested in the particular matter under discussion. “I feel, Mr. Waldron, that I owe you an apology,” he sald, not without em- barrassment, as he advanced toward that gentleman, not quite sure of his re- ception. “I was not aware—" “You have business with me, Chadeller?” Waldron inquired, courteously. “Yes. The fact is, I am also short a small amount of your stock. I do not feel that I am entitled to any cour- tesies at your hands. I can only hope that you will fe€l inclined to accord me the consideration of one business man to another. It is only fair to-myself to say, however, that my connection with this affair is entirely apart from the gentlemen with whom you have been dealing. Nor have I been connected with any previous tramnsactions In the stock. I merely took a filer this morn- ing at the suggestion of Mr. Burrows and immediately found myself In trouble—the result of following the advice of'a friend and going outside of one’s own specialties.” “Very well, Mr. Chadeller, I will in- struct my brokers to settle with you at the market, which I trust will be satis- factory.” ' “Entirely so, and I thank you for the consideration. I trust there are no hard feelings between ns, Mr. Waldron?" “None, Mr. Chadeller,” briefly replied the other, resuniing his chair. “I hope we shall see more of you in the future. I knew your father well and respect for Mr. very him—" ‘‘Pardon me, Mr. Chadeller,” sald Wal- dron, turning in his chair, and regarding the other fixedly for a moment, “I am precisely the same man today as last evening, and upon one other occasion when we chanced to meet. You were pleased to place your stamp of disap- proval upon me as a man. By that stan- dard I prefer to be judged rather than by any former position which may or may pot have been mine. The privilege was yours—I abide your decision. Our relations are purely business and, I be- leve—concluded.” Good-day, thus invited, was promptly offered and echoed. - «'Pears to me a good wallopin’ wouldn't do him no more harm than the rest of ‘em—you let that feller off purty easy, Mister Bill,” sald Dave, rather disgust- edly, as the door closed after the gen- tleman. “Yes, Dave. FHe is not one of the par- ticular and select coterie, and we are not holding a man up simply because we can put a gun at his head,” replied Waldron. “Maybe you're right, Mister Bill, may- be you're right. but I allus belleve in put- tin' your weight on a rattler when you've got him sort of handy like umder your heel. - Don’t do no harm to nobedy, and might do a sight of goed.” (Concluded Next Sunday.)