“Yes, Mr. MacClaren, I have.”

“May I see it?”

“You could see it if I had any desire to show it to you, but I haven’t. I consider it none of your business.”

Mr. MacClaren smiled grimly at this affront.

“Very well. That may not be my business, but what you do here as a factor of a Hudson’s Bay Company’s post is my business. Does your contract permit you to engage in any enterprise not connected with that of the company?”

“On my own time, yes.”

“You’d better re-read your contract.”

“I’ve already done that,” sneered the other.

“When I came over here today,” Mr. MacClaren’s voice was deathly calm, “an audit of your books showed that you had robbed the company of over two thousand dollars. I suppose you had a perfect right to do that under the terms of your contract?”

“I object to that word ‘robbed’,” rasped Frazer. “I’ll admit to a shortage but I’ve covered it.”