"What is this?" she asked. "'Paid in 1907,—Royalties.' What are royalties?"

"Well, I preferred to put them that way. I should put you, when we perfect our little transaction, under that head."

"O, I see," answered Gertrude. "Here is John O'Brien, $12,000; is that a royalty as you call it?—because he is pledged to the franchise?"

"That's what," answered Vickery. "He's already had that much. He was chairman last year, you know."

"And Mr. Mann,—our present chairman," asked Gertrude. "Is he here?"

"Later on you'll find him," was the reply.

Gertrude read on, in a low distinct voice, the various items, showing "royalties" paid various officials, running from $500 up to thousands, finally coming down to Mann's.

"Is this right—Otis R. Mann, $13,500?" she asked.

"That's right."

"And that means that Mr. Mann has already taken $13,500—and pledged himself to get the franchise through?" she asked in her low clear tone.