stock for themselves, had placed forty per cent. of it in the East for sale. As paying ore had not been found in it, after weary months of prospecting, one of the three partners brought his twenty per cent. of the stock East, and Mr. Daw had bought it for a song. A song, mind you, a mere nothing. Mr. Daw, moreover, knew where the other forty per cent. had been sold, and it, too, could be bought for a song. But now here came the point. After the departure of the disgruntled third partner the others had found gold! The two fortunate miners were, however, carefully concealing their good luck, because they were making most strenuous endeavors to raise enough money to buy in the outstanding stock before the holders realized its value.

Mr. Gilman, pouring another amber glassful for himself, nodded his head in vast appreciation. Smart men, those miners.

Mr. Daw had been fortunate enough to glean these facts from a returned miner whom he had befriended in early years, and fortunate enough, too, to secure samples of the ore, all of which had happened within the past week. Here was one of the samples. Look at those flecks! Those were gold, virgin gold!

Mr. Gilman feasted his eyes on those flecks, their precious color richly enhanced when seen through four glasses of golden beer. That was actually gold, in the raw state. He strove to comprehend it.

Here was the certified report of the assay, on the letter-head of the chemist who had examined the ore. It ran a hundred and sixty-three dollars to the ton! Marvelous; perfectly marvelous! Mr. Daw himself, even as he showed the assay, admired it over and over. As for Mr. Gilman, words could not explain how he was impressed. A genuine assay!

Now, here is what Mr. Daw had done. Immediately upon receiving the report upon this assay he had scraped together all the money he could, and had bought up an additional ten per cent. of the stock of that company, which left him holding thirty per cent. Also, he had secured an option upon the thirty per cent. still outstanding. That additional thirty per cent. could be secured, if it were purchased at once, for three thousand dollars. Now, if Mr. Gilman could invest that much money, or knew any one who could, by pooling their stock Mr. Gilman and Mr. Daw would have sixty per cent. of the total incorporated stock of the company, and would thus hold control. Mr. Gilman certainly knew what that meant.

Mr. Gilman did, for Mr. Smalley’s Filmore Bank had been started as a stock company, with Mr. Smalley holding control, and by means of that control Mr. Smalley had been able to vote himself sufficient salary to be able to buy up the balance of the stock, so that now it was all his; but Mr. Gilman could not see where it was possible for him to secure three thousand dollars for an investment of this nature.

An investment? Mr. Daw objected. This was not an investment at all. It was merely the laying down of three thousand dollars and immediately picking it up again fourfold. Why, having secured this stock, all they had to do was to let the secret of the finding of the hundred-and-sixty-three-dollar-a-ton gold be known, and, having control to offer, they could immediately sell it, anywhere, for four times what they had paid for it. The entire transaction need not take a week: it need not take four days.

Now, here is what Mr. Daw would do—that is, after he had ordered another pitcher of beer. He had the thirty per cent. of stock with him. He spread it out before Mr. Gilman. It was most beautifully printed stock, on the finest of bond paper, with gold-leaf letters, a crimson border and green embellishments, and was carefully numbered in metallic blue. It was also duly transferred in the name of Horace G. Daw. Mr. Daw would do this: In order that Mr. Gilman might be protected from the start, Mr. Daw would, upon taking Mr. Gilman’s three thousand, make over to Mr. Gilman this very stock. He would then take Mr. Gilman’s three thousand and purchase the other thirty per cent. of stock in his, Mr. Daw’s, own name, and would, in the meantime, sign a binding agreement with Mr. Gilman that their stock should be pooled—that neither should sell without the consent of the other. It was a glorious opportunity! Mr. Daw was sorry he could not swing it all himself, but, being unable to do so, it immediately occurred to him that Mr. Gilman was the very man to benefit by the opportunity.

Mr. Gilman looked upon that glittering sample of ore, that unimpeachable certified assay, those beautifully printed stock certificates of the Red Mud Gold Mining Company, and he saw yellow. Nothing but gold, rich, red mud gold, was in all his safe, sane and conservative vision. Here, indeed, was no risk, for here were proofs enough and to spare. Besides, the entire transaction was so plausible and natural.

“By George, I’ll do it!” said Mr. Gilman, having already, in those few brief moments, planned what he would do with nine thousand dollars of profits. Mr. Daw was very loath to let Mr. Gilman go home after this announcement. He tried to get him to stay all night, so that they could go right down to the bank together in the morning and fix up the matter; for it must be understood that a glittering opportunity like this must be closed immediately. Mr. Gilman, as a business man of experience, could appreciate that. But there were weighty reasons why Mr. Gilman could not do this, no matter how much he might desire it, or see its advisability. Very well, then, Mr. Daw would simply draw up that little agreement to pool their stock, so that the matter could be considered definitely settled, and Mr. Daw would then wire, yet that night, to the holders of the remaining stock that he would take it.

With much gravity and even pomp the agreement was drawn up and signed; then Mr. Gilman, taking the sage advice of Mr. Daw, drank seltzer and ammonia and ate lemon peel, whereupon he went home, keeping squarely in the center of the sidewalk to prove to himself that he could walk a straight line without wavering. Young Mr. Daw, meanwhile, clinging to that signed agreement as a mariner to his raft, sat upon the edge of his bed to rejoice and to admire himself; for this was Mr. Daw’s first adventure into the higher and finer degrees of “wise work,” and he was quite naturally elated over his own neatness and despatch.

CHAPTER III

YOUNG WIX TAKES A HAND IN THE BLACK-EYED
ONE’S GAME

The glowing end of a cigar upon the porch of the adjoining house told Gilman that young Wix was at home, and, full of his important enterprise, he stopped in front of the Wix gate to gloat.

“Hello, Gilman,” said Wix, sauntering down. “Out pretty late for a mere infant of twenty-four?”

“Little matter of business,” protested Mr. Gilman pompously, glancing apprehensively at the second-story window, where a shade was already drawn aside.

“Business!” repeated Wix. “They put midnight business in jail at daylight.”

“Hush!” warned Gilman, with another glance at the window. “This is different. This is one of those lucky strokes that I have read about but never hoped would come my way,” and enthusiastically, in an undertone which Wix had to strain to hear, he recited all the details of the golden opportunity.

It was not so much experience as a natural trend of mind paralleling Mr. Daw’s which made Mr. Wix smile to himself all through this recital. He seemed to foresee each step in the plan before it