"Say—how much?" inquired Armstrong.

"I was thinking twenty thousand a year—or, perhaps fifteen." The lower figure was an amendment suggested by the tightening of Armstrong's lips.

Armstrong saw the point. What Fosdick was after was a sinecure; a soft berth for his son-in-law to luxuriate idly in; another and a portly addition to the O.A.D's vast family of "fixed charges." "I'd like to oblige you, Mr. Fosdick," said he, with the reluctance of a man taking a new road where the passage looks doubtful and may be dangerous. "And I hate to deprive the O.A.D. of the chance to get Siersdorf's services at what is undoubtedly a bargain. But, as you may perhaps have heard, I'm directing all my efforts to lopping off expenses. I'm trying to get the O.A.D. on a basis where we can pay the policy holders a larger share of the profits we make on their money. Perhaps, later on, I can take the matter up. But I hope you won't press it at present."

The words were careful, the tone was most courteously regretful. But the refusal was none the less a slap in the face to a man like Fosdick. "As you please, as you please," he said hurriedly, and with averted eyes. "I just thought it was a good arrangement all around.... Everything going smoothly?"

"So-so."

"Well, good day."

And he went, with a friendly nod and handshake that did not deceive Armstrong. He drove to the magnificent Hearth and Home Defender building which Trafford and his pals had built for their own profit out of their stealings from millions of working men and women and children of the poorest, most ignorant class. Trafford received his fellow adept in the art of exploiting as Fosdick loved to be received; he did not let him finish his request before granting it. "An excellent idea, Fosdick," he cried. "I understand perfectly. I'll see that we get Siersdorf at once. Would fifteen thousand be too small?"

"About right, as a starter, I should say," was Fosdick's judicial answer. "You see, the thing's more or less an experiment."

"But certain to succeed," said Trafford confidently. "And, of course, we'll accept any arrangements Mr. Siersdorf may make about assistants. We can't expect him to give us all his time. We'll be quite content with his advice and judgment. You've put me under obligations to you."

Fosdick's eyes sparkled. As he went away, he said to himself, "Now, there's a big man, a gentleman, one who knows how to do business, how to treat another gentleman. I must put him in on something good."