"But," Hazel murmured, in some perplexity, "from what little I know of corporations, I don't see how he can set up any difficulty. If a majority of the stock-holders decide to do anything, that settles it, doesn't it? Bill is a minority of one, from what you say. And I don't see what difference his objections make, anyway. How can he stop you from taking any line of action whatever?"

"Oh, not that at all," Brooks hastily assured. "Of course, we can outvote him, and put it through. But we want him with us, don't you see? We've a high opinion of his ability. He's the sort of man who gets results; practical, you know; knows mining to a T. Only he shies at our financial method. And if he began any foolish litigation, or silly rumors got started about trouble among the company officers, it's bound to hurt the stock. It's all right, I assure you. We're not foisting a wildcat on the market. We've got the goods. Bill admits that. It's the regular method, not only legitimate, but good finance. Every dollar's worth of stock sold has the value behind it. Distributes the risk a little more, that's all, and gives the company a fund to operate successfully.

"If Bill mentions it, you might suggest that he look into the matter a little more fully before he takes any definite action," Brooks concluded, rising. "I must get down to the office. It's his own interests I'm thinking of, as much as my own. Of course, he couldn't block a reorganization—but we want to satisfy him in every particular, and, at the same time, carry out these plans. It's a big thing for all of us. A big thing, I assure you."

He rolled away in his car, and Hazel watched him from the window, a trifle puzzled. She recalled Bill's remark at luncheon. In the light of Brooks' explanation, she could see nothing wrong. On the other hand, she knew Bill Wagstaff was not prone to jump at rash conclusions. It was largely his habit to give others the benefit of the doubt. If he objected to certain manipulations of the Free Gold Mining Company, his objection was likely to be based on substantial grounds. But then, as Brooks had observed, or, rather, inferred, Bill was not exactly an expert on finance, and this new deal savored of pure finance—a term which she had heard Bill scoff at more than once. At any rate, she hoped nothing disagreeable would come of it.

So she put the whole matter out of her mind. She had an engagement with a dressmaker, and an invitation to afternoon tea following on that. She dressed, and went whole-heartedly about her own affairs.

Dinner time was drawing close when she returned home. She sat down by a window that overlooked the street to watch for Bill. As a general thing he was promptness personified, and since he was but twenty-four hours returned from a three months' absence, she felt that he would not linger—and Granville's business normally ceased at five o'clock.

Six passed. The half-hour chime struck on the mantel clock. Hazel grew impatient, petulant, aggrieved. Dinner would be served in twenty minutes. Still there was no sign of him. And for lack of other occupation she went into the hall and got the evening paper, which the carrier had just delivered.

A staring headline on the front page stiffened her to scandalized attention. Straight across the tops of two columns it ran, a facetious caption:

WILLIAM WAGSTAFF IS A BEAR

Under that the subhead: