She caught her breath.

"Mr. Ford, you have intimated that Mr. North isn't an honest man. Do you ask me to believe that Uncle Sidney is his accomplice?"

"He is not, knowingly. But he will stand or fall with the man he has made. I should have to ride him down before I could get at North."

Her lip curled and the straight-browed little frown came again. "There is no such thing as mercy in business, is there, Mr. Ford? My uncle is an old man and his presidency means more to him—"

"I understand that perfectly," said Ford soberly. "That is why I prefer to step down and out and let some other man have the glory of finishing the extension."

She looked up quickly.

"Would you do that for Uncle Sidney? He hasn't been very lenient with you, has he?"

Ford ignored the query.

"He is your uncle, Miss Alicia; and I'd do it for your sake or not at all."

They had reached the steps of the private car, and Frisbie was waiting with evident impatience for a word with Ford. Miss Adair's eyes signaled emotion, and Ford thought it was resentment. But her parting word was not resentful; it was merely a repetition.