“Now, Colonel,” cried Kate, “stand to your guns.”

“Well,” said the colonel, “I am going to execute a masterly retreat, as they used to say when a fellow ran away. I am going to get behind my company. They claim, you see, that Ranald ain't a paying concern.”

“But how?” said Mrs. Murray.

Then the colonel enumerated the features of Ranald's management most severely criticised by the company. He paid the biggest wages going; the cost of supplies for the camps was greater, and the company's stores did not show as large profits as formerly; “and of course,” said the colonel, “the first aim of any company is to pay dividends, and the manager that can't do that has to go.”

Then Mrs. Murray proceeded to deal with the company's contentions, going at once with swift intuition to the heart of the matter. “You were speaking of honor a moment ago, Colonel. There is such a thing in business?”

“Certainly, that's why I put that young man where he is.”

“That means that the company expect him to deal fairly by them.”

“That's about it.”

“And being a man of honor, I suppose he will also deal fairly by the men and by himself.”

“I guess so,” said the colonel.