"Well," said Merriam, "you see I am an enthusiastic supporter of the Reform League as led by Mr. Rockwell and Senator Norman and Mayor Black. You, I understand, are opposed to the League and its policies. So long as your opposition relates itself only to those policies and involves only open public discussion of their merits, I shall, of course, have no reason to interfere. But if your opposition should take the form of any personal attack, on Senator Norman, let us say, I should feel compelled to retaliate by a personal attack upon you, making use of these pictures we have taken to-night and the story that will readily weave itself about them. Do you see?"

"See!" Crockett cried. "Of course I see. Blackmail! How much do you want for that camera? Name your price."

"It has no cash price," returned Merriam steadily. "Now if I release you, will you leave quietly?"

For a long moment the financier stared at the younger man who had worsted him. Then:

"At this moment," he said acridly, "I certainly have no other desire than to get away from this place and to be rid of my present companionship."

Merriam was tempted to laugh at the stilted dignity of this phraseology, but he managed to keep a straight face.

"Very well," he said. "Margery,"--for Margery had just returned from the kitchenette minus the camera,--"help me untie him, will you? Feet first."

Margery and Merriam knelt for a moment at the two sides of Crockett's chair and released his two legs. Then Merriam again put the table between himself and Crockett and stood waiting, revolver in hand, leaving to Margery the work of unbinding the arms. He was afraid that his own near presence to Crockett when the latter found himself free might tempt him irresistibly to personal assault.

In the moment during which he stood waiting he became conscious that Jennie, half reclining in the chair into which she had dropped, was smiling at him--a pretty, confidential smile which he did not understand.

But he had no time to consider Jennie just then, for Margery had completed her work. The last piece of rope fell on the floor, and she lifted the slip noose from about Crockett's neck. He had been rather tightly bound and did not instantly have the full use of his limbs. Margery took his arm to assist him.