And now the third day of the meeting. That afternoon would be finished the long roll of the sixteen thousand and more investors.

With each name that was called, during these two days and a half, the Protective Association showed its power more clearly. The proxies held by Macgowan's satellites were clearly in the minority. As the totals mounted up, victory became more and more assured to Armstrong. And ever Mansfield sat aloof in thoughtful silence, scrutinizing every word and act of the opposition with that lightning brain of his ready to pounce; and Macgowan, realizing his peril, stepped cautiously.

Noon came—noon of the third day.

It was an exultant noontide. Sessions was holding the newspaper and financial writers at bay; Judge Holcomb and Doctor Bruton rested. Armstrong and Mansfield lunched with Robert Dorns, who had come down to enjoy the triumph. Calling up Aircastle Point, Armstrong was told that Dorothy was asleep, and left word for her of the victory.

The afternoon session opened with a growing tension. The finish was in sight. The last of the T's was called, and the end would now come soon. Armstrong heard the droning rasp of Macgowan's voice, heard the responses, mechanically checked off his own list. He swiftly computed his figures. Close—but certain!

"We've beaten the voting trust!" he thought exultantly. "Beaten it!"

True. Of the thirty-five thousand shares of common outstanding, the Association would vote a full nineteen thousand. Macgowan, despite his control of the voting trust, would lose by fifteen hundred votes. The illegal attachment had not availed him—

Suddenly Armstrong's head shot up. He was conscious of the electrified thrill that passed through the entire audience. He was conscious of a new name, not on his list, which had passed the lips of Macgowan.

It was the name of Ried Williams.

A dead, tense hush fell upon all, through which pierced the voice of Williams in its response. The wondering surprise passed into a low gasp of incredulity. Macgowan sat sneering, defiant, his gaze sweeping about in exultant challenge. The faces that stared up at him had lost their glow of confidence and triumph; consternation was in every eye, a dismayed stupefaction, despair!