erdown. The elder Mackeller did justice to the prime vintage which his lordship shared with him, but young Mackeller proved to be a water drinker. After lunch they retired to a

s of a property situated somewhere along the west coast of Africa, a dozen miles or

," interjected M

is known as the Red Shallows: I suppose because

Mackelle

for granted that there are no 'buses running to P

all by any of the regular liners, or even tramp steamers. Once there, you must char

ing, you have made your purchases of shares strictly according to the rules of

the elder

away," suggested Stranleigh, "as so

bankruptcy, which is a road these men won't want to travel, and even if they did, they have lost

s did you buy,

ers, three hun

uch did th

as bought as low as two-and-four, the bulk at half a crown, and a quantity of shares at

es does the co

thousand shares were sold to provide working capital, and ten thousand allotted to m

s to me, speaking heedlessly, that these men have promised to deliver to me sixty tho

ity of shares in addition to the ten thousand allotted me; then three or four o

ve bitten off more than they can chew, as they say out West.

ess know it

ll be their

bably endeavor

e you, for of course they know n

kely they will

you do, Mr.

ait your in

mere amateur, you know, whose dependence is

mpromise if

e? But if I thought these fellows would put up a decent

t business

ould the city call busi

ng they possess, short

ty's idea of fair play, is it? Well, I'm blest! They'd

nd cannot obtain. You're the only man in the world from whom they can buy this material which they have sold. There is no competition in this deal. They

t it? The only information I need is how much money th

a pretty close estimate,

cast for the hardhearted vil

earted or the reverse,

ome and plead with me, on their

but I've never heard that it h

of the emotions causes wrinkles and sallowness, and I'm particularly careful of my complexion. Both you and your son seem to have neglected these simple pr

" corrected y

ke the first move toward gathering

irectors turn over to you all the papers and belongings of the company, also its balance at the bank, also the resignatio

o you suppose is

ger man

for the building of shelters for the engineering staff and workmen. It was not the intention at first to erect a smelting furnace at the mine, but to load the ship with ore, and send her back to England. I returned to

erence, "that they have probably drawn the whole amount out by t

der, "they will be forced to a

club servants, entering, presented a card to Lord Stran-leigh, which bore the word

lordship, looking at the servant

my l

o see, Mr. Mac-keller. Do you

olicitors for the syndicate, and also s

see him, or shall I refer

re three of us present, while he will be alone, I t

od. Brin

ic origin. Despite the air of confidence with which he advanced, he seemed to be somewhat taken aback at seeing Mackell

ou will introduce me to Lo

er grimly, but Lord Stranleigh rose to his feet w

epresent me, temporarily, at least, so far as the Red Shallows property is concerned. Pr

lordship pleases. Th

gars and cigarettes, whichever you p

nk y

as interested in the

and it was not long before I learned the facts of the matter. Oh, not at your office, Mr. Mackeller! There was no one there but that most discreet old man who is even more difficult to pump than you are yourself. I've tried it

Hahn, that it is easy for you to catc

rd Stranleigh's remark. He was a very friendly person, and

hin the past few hours have come to the conclusion that the West End is up to snuff, as one

been getting nipped? I always underst

some of them tell me they have oversold; that is to say, they have promised to delive

stockbrokers who made

ally as many more as they desired-for the stock had been kicking about London for a week with no takers, and, being temporarily blinded by the commission they were to receive, and the fact that the purchase was a cash transaction, which I imagine they had some doubt

nough, which were to accept and pay for all the shares they could get. In one or two cases, my brokers telephoned to me for instructions, and I suppose that's how the news got out that they were acti

ough to expect sympathy from you,

nted when they don't get it,

eigh, "but am I to take it you have come to see

nt Mr. Conrad Schwartzb

o is Mr. Sc

uld reply, Mackeller sa

president of your company, and his c

rod and his friends are not suffe

perty a little more cheaply than they had intended. I believe Mr. Schwartzbrod considers

t if three-and-six is a fair price, then the loss of the syndicate is merely a shilling a share, an

d pounds," said

d pounds. Well, that divided

ng eye to the somber Macke

red and forty-two poun

. I fear the inability to count often begins west of Regent Street, and afflicts many of us who are accustomed to paying the waiter at the club exactly what he demands. But to return to our muttons, Mr. Hahn, I must congratulate you on the fact that your clients, who I understand are rich and estimable men, lose merely a couple of

s merely anxious that the transfer should be made in s

rs to intercept whatever trouble comes to hand so that it doesn't get past them to me. I should be glad to take on another solicitor, but tha

to convey their compliments and congratulations to your lordship

now. Still, I believe that's considered a reasonably profitabl

ent," snappe

investment solicitor about this. If a mere amateur like myself can make forty per cent in ten minutes,

itor probably takes no

omewhere, but, you see, I'm not well versed in these things

probably one or two others. Of course the unfortunate stockbrokers cannot produce the fifty thousand shares or more that are not in existence, and I don't supp

the phrase hadn't penetrated yet into the

, Mr. Schwartzbrod and his friends are prepared to transfer t

n a man buys a thing, and pays the money for it, he

occurred to my principals that perhaps you did not care yourself to develop the property, and perhaps your intention was to take what you considered

t uncertain business

ning is about the most hazardous occupation that a man can adopt. If he is not a prac

man, Mr. Hahn, and know as litt

should have no difficulty in arriving at

What do your principals

d over to you, say fifteen or twenty thousand pounds. Or they would be willing that you should retain a substantial holding in the ventu

ke others share a risk over which they could exercise no control. I dare say I am very stupid. My friend, Jack Hazel, who knows city men and their ways, says that it is a practice there to minimize risk by spreading it over a number of persons, but I shouldn't be happy, if my plans went wrong, to think tha

erfully acquiesced in by my principals. Here, then, are the papers which make over the gold field

asure to deal with a man of yo

o scrutinized them with the eye of a hawk. His lordship then read very slowly the document he had been asked to sign, and he took a long time in

tunate in possessing the services of a dozen sharper men than myself who are good enough, for a c

lain. I'm here alone, without any corroborative witness

tered this room. You represent men who are only too anxious to do the right thing, and you meet, I hope, a man who is desirous of effecting a compromise, and I think I may say the same for my friend Mackeller. I am sure nothing wo

precisely,"

simple little receipt, but it seems to me that in Mr. Schwartzbrod's generous desire

expense,

es on which they cannot lay their hands, and this, as my ancient friend Euclid used to remark, is impossible. Now, if I

he city this year, have not been overburdened with business. Indeed, the stagnation in financial circles, the high bank rate, and all that, doubtless accounts for the eagerness with which these men, regarding the hon

I scarcely know the meaning of. I think all my friends will tell you I am a

my lord, and admit that, for the m

not injure one of your stockbrokers, and when you report my words to the kindly Mr. Schwartzb

have great pleasure in tell

rush Mr. Mackeller and possess themselves, not only of all his stock, but of the shares of his friends who paid a pound each for them, forgot during one critical ten minutes that a buyer might happen along who had some money in his pockets. It is due to the energy and the persuasive powers of this young engineer here, formerly in their employ, that a purchaser materialized at the crucial moment. I think it is a fact that if Mr. Schwartz-brod and his distinguished company of pirates had not jauntily run up the black flag with the skull and crossbones on it, they would not be today in the place of jeopardy in which they stand. To continue my nautical simile, they

from the solicitor's face,

eatening us, Lord St

u will leave with me all those transfer papers. You will ask Schwartzbrod and the six directors to sen

ly thinking he had spoken a little prematurely, added hastily: "at least, so I understand

hn. You don't happen to know at what

n out to-day. I don't kno

y doesn't matter, and doubtless your principals wi

understand that, I suppose. A man like myself, acting merely as agent, must have documentary proof that he h

, Mr. Hahn, simply acknowledgi

e definite, my lord, and I

ad placed negotiations entirely in you

nestly could not advise him to part with all his advan

tages? Wha

he money, but to issue debentures against the shares that you hold. If you read the articles of association, you will see that this is so. Although you hold all the shares of the company, you cannot compel them to resign, and you cannot vote your stock until the next annual meeting, which is nearly t

hreatening no

you, in the plainest possible words at m

f your explanation. I take it, then, that

will sign that r

them to you, receipt and all. Now, you tell Mr. Schwartzbrod that the price of Red Shallows shares is one hundred pounds each, and if there a

ou cannot make the shares a hundred pounds apiece, nor can you enforce such an exorbitant condit

en of genius such as I doubt not your principals are, I will now tell you what I intend to do. I shall put the price of shares at exactly what your people sold them to the public for, that is, one pound each. They cannot complain of my doing what they have done themselves, now can they? It is true that I bought these shares at two-and-six, but that also was not my fault. They, by throwing their shares on the market, knocked down the price to the figure I have named, and I bought the shares from the stockbrokers of your principals. If you say their action was not done to embarrass Mr. Mac-keller, then I at once accept your statement as true. For some other reason they battered down the price from one pound to half a crown. A few weeks a

say that, my lord. This stock c

Hahn, it cost thirty-seven t

ived them of their property, getting it not only for nothing, but with a bonus of thirty odd thou

spread forth his hands. His expression sh

ead of tha

and did not conti

are not liable to you for those seventy thousand share

ctly what I

be non-suited

st the stockbrokers, but if your principals do not agree in writing also to take no action against them the price of shares shall rise suddenly. I am so much in sympathy with Mr. Schwartzbrod's tender feelings tow

the documents he brought once more in his i

ious fellow. Tell him that I'm the most easy person in the world to deal with. Tell him the moment he sends me his check for seventy thousand pounds-I hope it will be a little less-Mr. Mac-keller here will figure out the exact amount, and run it into shillings and pence, and even farthings if necessary-the moment I g

him your mes

hasty as all that. Stock will remain at a pound during tomorrow. Next day it will rise a shilling, next day another shilling, the third day a third shilling. It's so very easy to kee

de an excellent actor, forced a

e joking no

ahn, although I do somet

give us a week to th

o think me exacting. Now, don't go away thinking I'm reluctant to make concessions, and big ones. That's seven shillings a

housand five h

who have been thinking hard of me-there, don't deny it; I saw it by the expression of your c

ve hundred pounds," prom

heard of. I don't want to boast of my virtues, Mr. Hahn, but I doubt if you could find any man in the city who would so jaunti

ll I communicate with yo

terview will take place at Mr. Mackeller's office in the city any time that suits your convenience, and I should be glad to have twenty-four h

noon, my lord. Good af

Stranleigh smiled at his two comp

breath, "if you ever get to understand finance, God help the city

t Southampton. You were seeing to the l

-the steam

ors, I ask you to resume that occupation. You are st

es

tting the machinery and provisions into the steamer, just as if nothing had happened.

outhampton, and met with no ob

ame cringing in. He spent hours trying to get improved terms, and indeed Lord Stranleigh made him several important concessions. At last he delivered over everything that was demanded, and got from Lord Stranleigh a signed document giving Conrad Schwartzbrod full

ded an inch to him," s

reated a little longer I'd have given him

a dispatch for Mr. Mackeller, who tore it op

o the storing of cargo in the Rajah, I was battened down in the hold, and the stea

essed, gives him quittance for this theft of the steamer. Now they are going to loot the surface gold and rec

ene, and he blew slowly some rings

he said. "Think how fine he cut it! And yet it might dist

o do with it?" g

n White, lying in Plymouth Harbor, is fitted with Parsons's latest turbines and can, at a pinch, ste

ype="