"My dear 'Happy,'" laughed the builder, "I don't intend to complete the road."

"Then—why in blazes are you starting it?" demanded Slater in a bewilderment which the others evidently shared. "It's one thing to build a railroad on a contractor's commission, but it's another thing to build it and pay your own way as you go along. Half a railroad ain't any good."

"Once my right-of-way is filed it will put those projects from Cortez out of business. No one but an imbecile would think of building in from there with the Omar route made possible. Before we come to that Salmon River bridge the Copper Trust will have to buy us out!"

"That's language!" said "Happy Tom" in sudden admiration. "Those are words I understand. I withdraw my objections and give my consent to the deal."

"You are staking your whole fortune on your judgment, as I understand it," McKay ventured.

"Every dollar of it," Murray answered.

"Say, chief, that's gambling some!" young Sheldon remarked with a wondering look.

They were deep in their discussion when the telephone broke in noisily. Sheldon, being nearest to the instrument, answered it. "There's a newspaper reporter downstairs to interview you," he announced, after an instant.

"I don't grant interviews," O'Neil said, sharply. He could not guess by what evil chance the news of his plans had leaked out.

"Nothing doing!" Sheldon spoke into the transmitter. He turned again to his employer. "Operator says the party doesn't mind waiting."