It was simply the lull time in the era of progress; simply the time in between small things and things of magnitude; the time when the little man was liable to be forced to the wall and the big man would have to cling on despairingly; the time when organisation and brains would have to step in and take the reins.

Autumn faded and early winter promised with its damp fogs which, in the night time, froze quickly, covering houses, trees and fences with a white crystalline hoar which dropped like snow at the first faint blush of the next morning’s sun. But oblivious of winter and without forebodings, men continued to buy at a price and sell for more.

The winter came, with its snow fence-high, and its cold north wind compressing the thermometer to twenty below and binding the earth as with an iron crust; the winter came with its days of dazzling sunshine and its cloudless skies over a pall of white; with its nights when great fleecy clouds scudded across the face of a brilliant moon, causing long shadows and streaks of pale light to chase each other across the white, frozen fields and over the undulating ranges;––but the majority of the men who lived by buying and selling heeded it not nor did they admire its beauties. Some were browsing in the warmer clime of California and those who remained behind sat in the comfort of their clubs, still buying at a price and selling for more, or planning their early spring campaigns.

Graham Brenchfield was in Los Angeles. John Royce Pederstone held office in Victoria, and Eileen––but for an occasional flying visit––remained with her father.

357

Phil and Jim––no longer the Swede’s apprentice and the irresponsible, occasional drunk, but men whose opinions counted, whose lead was worth following, whose actions carried force––continued to paddle quietly and cautiously down the Stream of Conditions toward the Cataract of Consequences. Far away they could hear the roar of the rushing, falling waters which, so far, others failed or refused to hear.

With the first blink of spring, the old frenzy of the previous few years reasserted itself, and business in land and ranches and town property showed early signs of breaking all previous records.

The Langford-Ralston Company were in almost every transaction; but it was not until the blossoms were again on the trees that someone suddenly realised a strange fact.

The private-exchange girl in the L.-R. Company switched the call to Phil’s desk.

“Hullo! Brixton talking. That you, Jim?”