"When?" asked Wallingford.
"Well, our regular monthly meeting—" began Mr. Priestly.
"No, you don't," interrupted the other. "I think a few minutes of conversation with Mr. Alexander himself would do away entirely with the necessity of consulting the board of directors. You think it possible, I know, that by going directly to Mr. Klug and his friends you would be able to purchase the patents cheaper than you can from me, but I am quite sure I can convince Klug and his company that these gentlemen will raise the price on you."
"Why didn't you form this new company in the first place, then?" demanded Mr. Priestly sharply, implying a doubt. "Why do you come to us at all!"
"Because I personally," patiently explained Wallingford, "can make more money by quietly selling the patent to you than I personally can make by selling it openly to them, as you will see if you reflect a moment. At present I own a twelfth share in the company. If I induce this other company to take hold of it I must divide the purchase price into twelve equal shares, of which I receive but one. Is Mr. Alexander in the city?"
"I believe so," hesitated Mr. Priestly.
"Is he in his office?"
"Possibly," admitted the other.
"Oh, he's in, then," concluded Wallingford sagely. "Well, I think you can give me my answer in an hour. I'll be down at the Hotel Vandyne. You might telephone me. I want to go back West this evening."
It did not take Mr. Priestly and Mr. Alexander sixty minutes to conclude that they could save a lot of money by doing business with Mr. Wallingford, and they asked him to drive up to their office and see them again. When they got through "dickering," Mr. Wallingford had agreed, in writing, to deliver over to them, within sixty days, the Pneumatic Sales Recorder Company patents, for the sum of one hundred and seventy-five thousand dollars, the receipt of a ten-thousand-dollar advance payment being acknowledged therewith.