"I would have ye remember what I told ye about the average investor," he replied. "He has no often the boldness to trust his judgment nor the sense to ken a good thing when he sees it—he waits for a lead, and then joins the rush when other folk are going in. What makes a mineral or other stock a favorite for a time is now and then no easy to determine; but we'll allow that it becomes so—ye will see men who should have mair sense thronging to buy and running the price up. Like sheep they come in, each following the other; and like sheep they run out, if anything scares them. It's no difficult to start a panic."
"The plain English of it is that the mine is not so popular as it was," retorted Vane impatiently.
"I'm thinking something of the kind," Nairn agreed. Then he proceeded with a cautious explanation: "The result of the first reduction and the way ye forced the concern on the market secured ye notice. Folk put their money on ye, looking for sensational developments, and when the latter are no forthcoming they feel a bit sore and disappointed."
"There's nothing discouraging in our accounts. Even if the ore all ran as poor as that,"—Vane pointed to the specimens on the table—"the mine could be worked on a reasonably satisfactory paying basis. We have issued no statements that could spread alarm."
"Just so. What was looked for was more than reasonable satisfaction—ye have no come up to expectations. Forby, it's my opinion that damaging reports have somehow leaked out from the mine. Just now I see clouds on the horizon."
"Bendle pledged himself to take up a big block of the shares," repeated Vane. "If Howitson does the same, as he said he would, our position would be secure. As soon as it was known that they were largely interested, others would follow them."
"Now ye have it in a nutshell—it would put a wet blanket on the project if they both backed down. In the meanwhile we canna hurry them. Ye will have to give them time."
Vane rose.
"We'll leave it at that. I've promised to take Mrs. Nairn and Miss
Chisholm for a sail."
By the time he reached the water-front he had got rid of the slight uneasiness the interview had occasioned him. He found Mrs. Nairn and Evelyn awaiting him with Carroll in attendance, and in a few minutes they were rowing off to the sloop. As they approached her, the elder lady glanced with evident approval at the craft, which swam, a gleaming ivory shape, upon the shining green brine.