"Has he reached the loss point yet?" MacRae inquired.

"He's shaving close. No cannery can make anything worth reckoning at a dollar or so a case profit."

"Is ninety cents and five cents' commission your limit?" MacRae demanded.

"Just about," Stubby grunted. "Well"—reluctantly—"I can stand a dollar. That's the utmost limit, though. I can't go any further."

"And if he gets them all at a dollar or more, he'll be canning at a dead loss, eh?"

"He certainly will," Stubby declared. "Unless he cans 'em heads, tails, and scales, and gets a bigger price per case than has been offered yet."

MacRae went back to Squitty with a definite idea in his mind. Gower had determined to have the salmon. Very well, then, he should have them. But he would have to take them at a loss, in so far as MacRae could inflict loss upon him. He knew of no other way to hurt effectively such a man as Gower. Money was life blood to him, and it was not of great value to MacRae as yet. With deliberate calculation he decided to lose the greater part of what he had made, if for every dollar he lost himself he could inflict equal or greater loss on Gower.

The trailers who combed the Squitty waters were taking now close to five thousand salmon a day. Approximately half of these went to Folly Bay. MacRae took the rest. In this battle of giants the fishermen had lost sight of the outcome. They ceased to care who got fish. They only watched eagerly for him who paid the biggest price. They were making thirty, forty, fifty dollars a day. They no longer held salmon—only a few of the old-timers—for MacRae's carriers. It was nothing to them who made a profit or suffered a loss. Only a few of the older men wondered privately how long MacRae could stand it and what would happen when he gave up.

MacRae met every raise Folly Bay made. He saw bluebacks go to a dollar ten, then to a dollar fifteen. He ran cargo after cargo to Crow Harbor and dropped from three to seven hundred dollars on each load, until even Stubby lost patience with him.

"What's the sense in bucking him till you go broke? I'm in too deep to stand any loss myself. Quit. Tie up your boats, Jack. Let him have the salmon. Let those blockheads of fishermen see what he'll do to 'em once you stop."