Walter could hardly speak—he was so excited.

"Better close with it. You can't do better. That father of yours must be a———"

Bauer smiled faintly. "Perhaps I can't expect more. I believe I will wire accept."

"Better find out what the percentage is, and why European sales are not included."

"Yes," said Bauer briefly. He was strangely calm and not particularly overjoyed by his unexpected good fortune. Walter recalled that afterwards.

He answered the telegram with a letter, asking for details which his father furnished promptly. The European sales were subject to such expense and delay that the manufacturers explained the unusual risk and made a plausible showing why royalty terms were difficult to arrange. After two weeks correspondence, Bauer finally telegraphed his father— "You are authorised to close with Halstead on their terms. Take your commission out of the $5,000."

By the business arrangements made between them Bauer's father was to receive five per cent on any cash offer. Bauer felt kindly towards him for the way the affair had come out and in a letter written the same day he sent the telegram he authorised his father to take out ten per cent commission instead of the five agreed upon in their formal contract.

"I don't want to get too money mad," he said to himself with a grim smile as he posted the letter, and with a great feeling of weariness upon him went into the shop.

Felix Bauer was one of the few students at Burrton who never subscribed to a daily paper and seldom read one. He kept up with the news of the world by dropping into Walter's room and hearing him dribble out the events of the day from a New York daily which Walter took. The edition reached Burrton eight hours after the date line.

Three days after Bauer had authorised his father to close the contract on the patent for him Walter opened up his New York Daily for his usual skim over its contents. It was two o'clock. He had heard Bauer come up the stairs and go into his room and had not heard him go out.