People did not tumble over one another in any haste to respond. They might not be clever, but they could be suspicious, and they asked at once for particulars, desired to see the good thing for themselves, and some of them wanted the twenty per cent, paid in advance by way of guarantee against loss. There were plenty of wild stories concerning the treasures of the moor. Were there not, upon every side, evidences of the existence of precious minerals in the shape of abandoned mines? There were tales of rich lodes which had been lost, but were sure to be picked up again some day. The mining tradition was strong; but it was notorious that copper and tin could hardly be worked at a profit. Pezzack answered that he had discovered nickel, which was something far better, and his announcement certainly did cause some of the flutter which Pendoggat had looked for. The retired grocer took advantage of an excursion train to Plymouth, ascended upon the moor, and having been sworn to secrecy was conducted by Pendoggat, acting as Pezzack's manager, to the treasure cave, and shown the ripe nickel running down its sides. Pendoggat also knocked off a piece of the wall and appeared to give it to the retired grocer as a sample. What he actually gave him was a fragment of dirty-grey metal, which had not come from that cave or anywhere near it, but had been procured by Pendoggat at some expense, seeing that it really was a sample of nickel. The retired grocer had come down in doubt, but returned converted to Bromley, submitted the sample to an analyst, and subsequently acted foolishly. He was meddling with what he did not understand, which is one of the most attractive things in life. Adulterated groceries he could comprehend, because he had won retirement out of them; but the mining industry was something quite outside his experience. Apparently he thought that nickel could be taken off the sides of a cave in much the same way as blackberries are picked off a hedge. He confided the matter to a few friends, making them swear to say nothing about it; and when they had told all their acquaintances applications for shares in the good thing began to reach the retired grocer, who unfortunately had nothing to occupy his time. He was soon feeling himself a man of some importance, and this naturally assisted him to entertain a very avuncular regard for nephew Pezzack, and a friendly feeling for the "simple countryman Pendoggat" and the precious metal called nickel. He thought of himself as a financial magnate, and subscribed to the Mining Journal. He talked no more of prime Dorset, nor did he discuss concerning the most suitable sand to mingle with sugar; but he rehearsed the slang of the money-market instead, remarked that he had struck a gilt-edged security, looked in the paper every morning and observed to his wife that copper was recovering, or that diamonds continued to droop. The head-quarters of the Tavy Cleave Nickel Mining Company were really not upon Dartmoor at all, but at Bromley in a straight little jerry-built street; which was exactly what the "simple countryman Pendoggat" wanted.

A meeting of prospective shareholders was held in the chapel, but it turned out a wet stormy evening and very few attended. Brother Pendoggat led in prayer, which took a pessimistic view of things generally; Pezzack delivered an impressive address on the need of more stability in human affairs; and when the party had been worked into a suitable state of enthusiasm, and were prepared to listen to anything, they got to business.

The minister was destined to be astounded that evening by his brother in religion and partner in business. Eli told the party what it was there for, which it knew already, and then unfolded his prospectus, as it were, before their eyes, telling them he had discovered a rich vein of nickel, and contemplated forming a small company to work the same. It was to be quite a private affair, and operations would be conducted as unobtrusively as possible. The capital suggested was £500, divided into five-shilling shares. While Eli talked Pendoggat sat motionless, his arms folded, and his eyes upon his boots.

"Where's the mine?" asked a voice.

Pezzack replied he was not at liberty to say at that stage of the proceedings; but he had brought a sample to show them, which was produced and handed round solemnly, no one examining it with more interest than Pendoggat, who had provided it. Every one declared that it was nickel sure enough, although they had never seen the metal before, and had scarcely an idea between them as to its value or the uses to which it could be put.

"Us had best talk about it," suggested one of the party, and every one agreed that was a sound idea, but nobody offered to say anything, until an old farmer arose and stated heavily—

"Us knows there be rich trade under Dartmoor. My uncle, he worked on Wheal Betsey, and he worked on Wheal Virtuous Lady tu, and he told I often there was a plenty of rich trade down under, but cruel hard to get at. He told I that many a time. Wouldn't hardly pay to work, 'twas so hard to get at, he said. Such a main cruel lot o' watter, he said. Fast as they gotten it out back it comed again. That's what he said, but he be dead now."

The old fellow sat down with the air of a man who had cleared away difficulties, and the others dragged their boots upon the boards with a melancholy sound. Then some one else rose and asked if water was likely to interfere with the mining of the nickel. Eli replied that there certainly was water, and that announcement brought the old farmer up to say: "It wun't pay to work." He added reasons also, in the same strain as before.

An interval of silence followed. A deadlock had been reached. Those present were inclined to nibble, but they all wanted the nickel for themselves. They did not like the idea of taking shares and sharing profits. They wanted to be told the precise locality of the mine, so that they could go and help themselves. Pezzack had nothing more to say. The old farmer had only his former statements about his uncle to repeat; and he did so several times, using the same words.

At last Pendoggat got up, began to mumble, and every one leaned forward to listen. Most of them did not like Pendoggat because they were afraid of him; but they believed him to be a man of superior knowledge to themselves, and they were inclined on the whole to follow his leadership.