“In pretty deep, eh?” was Regan’s beginning.

“Oh, not so deep that my back-teeth are awash yet,” Francis replied airily. “I can still breathe, and it will be a long time before I begin swallowing.”

Regan did not immediately reply. Instead, pregnantly, he ran over the last few yards of the ticker tape.

“You’re dumping Tampico Pet pretty heavily, just the same.”

“And they’re snapping it up,” Francis came back, and for the first time, in a maze of wonderment, he considered the possibility of Bascom’s intuition being right. “Sure, I’ve got them swallowing.”

“Just the same, you’ll note that Tampico Pet is tumbling at the same time it’s being snapped up, which is a very curious phenomenon,” Regan urged.

“In a bear market all sorts of curious phenomena occur,” Francis bluffed with a mature show of wisdom. “And when they’ve swallowed enough of my dumpings they’ll be ripe to roll on a barrel. Somebody will pay something to get my dumpings out of their system. I fancy they’ll pay through the nose before I’m done with them.”

“But you’re all in, boy. I’ve been watching your fight, even before your return. Tampico Pet is your last.”

Francis shook his head.

“I’d scarcely say that,” he lied. “I’ve got assets my market enemies never dream of. I’m luring them on, that’s all, just luring them on. Of course, Regan, I’m telling you this in confidence. You were my father’s friend. Mine is going to be some clean up, and, if you’ll take my tip, in this short market you start buying. You’ll be sure to settle with the sellers long in the end.”