“Mr. J. Augustus Redell

“President West Coast Trading Co.

“Merchants' Exchange Building, City.

“My dear Gus: Having waited for several weeks in the hope of meeting you at the Bilgewater Club, to which, due to some mysterious reason, you appear to have been excessively disloyal of late, I despair of the delight of a personal interview and am accordingly writing you.

“You will recall that jag of odoriferous spruce your excitable partner was chump enough to buy from the Ricks Lumber & Logging Company. On the receipt this morning of a communication from my exceedingly capable representative in Papeete I came to the conclusion that I could afford to allow the rebate claimed by the excessively sour-balled Senor Almeida, and accordingly I am inclosing herewith, to the order of your company, the Ricks Lumber & Logging Company's check for $536.12.

“I also beg to tender you my assurance that if I have seemed in the past to cherish an unchristian resentment of that little deal in grape stakes, the memory of the outrage no longer rankles in my bosom. For you, my dear young friend, I entertain the kindliest, the most paternal of feelings. I have not only forgiven, but I have also forgotten; for my honor is clear again and I figure I can pretty blamed well afford myself the luxury.

“Regarding that steamer Valkyrie, please be advised that the next steamer to Australia, via Papeete and Raratonga, will carry a Blue Star flag and my instructions to our representative to have it tacked to the main truck of the Valkyrie as she dies submerged in the harbor. Since I assume you will be interested in learning the details of our acquisition of the steamer in question, and since, further, I cannot see that I have anything to lose by withholding this interesting information, please be advised that we bought her in for twenty-two thousand five hundred dollars.

“I fear you will be inclined to doubt this and accuse me of romancing for the purpose of dropping more salt in a wound still fresh and bleeding; but I assure you such a suspicion would be a grave injustice to an old man whose portion from you should be pity, not opprobrium.

“To begin, it was very easy—after we had you out of the way. Like a sensible man, you knew you were licked and threw up the sponge to save yourself unnecessary punishment. It has been my experience that only a very wise man has sense enough to do that; consequently, despite your youth and impetuosity, I seem to see the glimmer of a very brilliant commercial future for the West Coast Trading Company.

“However, to the story: When Mike Murphy got down to Papeete he found a couple of broken-down junk dealers hanging round—the kind of fellows who would have been glad to bid in the vessel at a couple of thousand dollars for the privilege of breaking her up for junk and gutting her of her cargo. A little reflection convinced Captain Murphy that he could eliminate these small fry and centre his attention on the Australian steamship company; and he was aided in arriving at this conclusion by your Mr. Jinks, whom he found glooming at the dock on the arrival of the Moana minus your handsome self. By the way, Mr. Jinks' action in aiding and abetting Murphy, after discovering that his own company was out of the running, was so sportsmanlike that, if you will kindly advise me of the expense to which you were put in sending him to Papeete, we will gladly send you our check to cover.