“Who?” repeated Denison. “Some one representing that European combine, of course. That is only part of the Trust method—ruin of competitors whom they cannot absorb.”

“Then you have refused to go into the combine? You know who is backing it?”

“No—no,” admitted Denison reluctantly. “We have only signified our intent to go it alone, as often as anyone either with or without authority has offered to buy us out. No, I do not even know who the people are. They never act in the open. The only hints I have ever received were through perfectly reputable brokers acting for others.”

“Does Haughton know of this note?” asked Kennedy.

“Yes. As soon as I received it, I called him up.”

“What did he say?”

“He said to disregard it. But—you know what condition he is in. I don’t know what to do, whether to surround the office by a squad of detectives or remove the radium to a regular safety deposit vault, even at the loss of the emanation. Haughton has left it to me.”

Suddenly the thought flashed across my mind that perhaps Haughton could act in this uninterested fashion because he had no fear of ruin either way. Might he not be playing a game with the combination in which he had protected himself so that he would win, no matter what happened?

“What shall I do?” asked Denison. “It is getting late.”

“Neither,” decided Kennedy.