They both laughed. Nancy leant back in her chair. Her pose was all unconscious. She had toiled hard to keep pace with the sturdy gait of Bat in the ascent from the quay. Now she was glad of the ease the chair afforded.

"Why did you say that?" Nancy asked a moment later.

Bull spread out his great hands.

"The Skandinavia don't usually let folks forget they're behind them."

"Now that's just too bad. It—it isn't generous," the girl said half seriously.

"Isn't it?"

Bull left the window and took the chair that was usually Bat's. He set it so that he could feast his eyes on the beauty he found so irresistible.

"You see," he went on, "I've got a right to say that all the same. It's not the—the challenge of a—what'll I say—competitor? I once had the honour of drawing a few bucks a month on the paysheets of the Skandinavia. And folks reckoned, and I guess I was amongst 'em, that Skandinavia said to its people: 'Make good or—beat it.' That being so it makes it a sure thing they're not liable to leave you forgetting who's behind you."

His smile had gone. He was simply serious. This man had worked for her people, and Nancy felt he was entitled to his opinion.

"That's going to make my talk harder," she said. "I'm sorry. But there," she went on. "It doesn't really matter, does it? Anyway I want to tell you right away of the craze the sight of your splendid Sachigo has started buzzing in my head. Say, Mr. Sternford, it beats anything I ever dreamed, and I want to say that there's no one in the Skandinavia, from Mr. Peterman downwards, has the littlest notion of it. It's not a mill. It's a world of real, civilised enterprise. And it's set here where you'd look for the roughest of forest life. I just had no idea."