Horsfield made no comment but waited expectantly, and Vane went on:

"If it seems possible that we can profitably increase our output later on, by means of further capital, we'll put up a smelter. But in that case it might be economical to do the work ourselves."

"Who would superintend it?"

"I would, if necessary, with the assistance of an engineer used to such plant."

Horsfield smiled in a significant manner.

"Aren't you inclined to take hold of too much? When you have plenty in your hands, it's good policy to leave a little for somebody else. Sometimes the person who benefits is willing to reciprocate."

The hint was plain, and Nairn had said sufficient on another occasion to make it clearer; but Vane did not respond.

"If we gave the work out, it would be on an open tender," he declared.
"There would be no reason why you shouldn't make a bid."

Horsfield found it difficult to conceal his disgust. He had no desire to bid on an open tender, which would prevent his obtaining anything beyond the market price.

"The question must stand over until I come back," Vane went on. "I'm going up the west coast shortly and may be away some time."