"I see," said Clay, gravely. "That had not occurred to me before. They feel they have been slighted. I see." He paused for a moment as if in serious consideration. "Well," he added, "that might be arranged."

He turned and jerked his head toward the open door. "If you boys mean to go to town to-night, you'd better be moving," he said. The two men rose together and bowed silently to their guest.

"I should like if Mr. Langham would remain a moment with us," said Mendoza, politely. "I understand that it is his father who controls the stock of the company. If we discuss any arrangement it might be well if he were here."

Clay was sitting with his chin on his breast, and he did not look up, nor did the young man turn to him for any prompting. "I'm not down here as my father's son," he said, "I am an employee of Mr. Clay's. He represents the company. Good-night, sir."

"You think, then," said Clay, "that if your friends were given an opportunity to subscribe to the stock they would feel less resentful toward us? They would think it was fairer to all?"

"I know it," said Mendoza; "why should the stock go out of the country when those living here are able to buy it?"

"Exactly," said Clay, "of course. Can you tell me this, General? Are the gentlemen who want to buy stock in the mine the same men who are in the Senate? The men who are objecting to the terms of our concession?"

"With a few exceptions they are the same men."

Clay looked out over the harbor at the lights of the town, and the General twirled his hat around his knee and gazed with appreciation at the stars above him.

"Because if they are," Clay continued, "and they succeed in getting our share cut down from ninety per cent to fifty per cent, they must see that the stock would be worth just forty per cent less than it is now."