"It means that they'll cut in ahead of us, if they can. Plug Pass is the only available unoccupied outlet through the mountains for thirty or forty miles north or south; and if we don't get our building force on the ground mighty suddenly, we'll find it fortified and held by the enemy."

The touring car had turned into Broadway, and the traffic roar precluded further talk. But when Ford was dismounting from the tonneau at the entrance to his hotel, Adair said: "There appears to be no rest for the wicked. You ought to have some of that thirty million dollars to spend right now."

Ford's smile was little more than a sardonic grin.

"Adair," he said, "I'm going to tell you something else that I didn't dare tell those money-tremulous people in McVeigh and Mackie's private office. I have been signing contracts and buying material by the train-load ever since the first grain shipment was started eastward on our main line. Also, I've got my engineering corps mobilized, and it will take the field under Frisbie as its chief not later than to-morrow. Putting one thing with another, I should say that we are something over a fresh million of dollars on the wrong side of solvency for these little antics of mine, and I'm adding to the deficit by the hundred thousand every time I can get a chance to dictate a letter."

Adair lighted a cigarette and made a fair show of taking it easily. But a moment later he was lifting his hat to wipe the perspiration from his forehead.

"Lord! but you have the confidence of your convictions!" he said, breathing hard. "If we shouldn't happen to be able to float the bonds—"

"We are in too deep to admit the 'if.' The bonds must be floated, and at the earliest possible moment that Magnus will move in it. You wanted something big enough to keep you interested. I have been trying my best to accommodate you."

Adair leaned forward and spoke to his chauffeur. The man watched his chances for room to turn in the crowded street.

"Where are you going?" asked Ford.

"Back to McVeigh and Mackie's—where I can watch a ticker and go broke buying more Pacific Southwestern," was the reply, and just then the chauffeur found his opening and the big car whirled and plunged into the down-town stream.