To get out those words was worse than if he had to swallow a bitter pill.

Vance looked at him with a quizzical smile.

“It seems to me it would have been better for you if you had stuck by the sinking ship, Mr. Jarboe. You see, she was only waterlogged for the moment, and a golden pump put her on an even keel again.”

“All men make mistakes,” responded Mr. Jarboe abruptly. “What is the figure?”

“In consideration of your long connection with Mr. Whitemore,” said Vance, “I’ll let you off easy,” and he named a price.

“Vance Thornton,” said Mr. Jarboe, his dignity suddenly melting away, “you have acted like a man. Allow me to shake you by the hand and congratulate you on the wonderful ability you have displayed in engineering so gigantic a deal. I am proud to acknowledge your acquaintance, and I may say the same for my partners. Instead of crowing over a firm of solid old traders whom you have caught in the toils, and squeezing us badly, as you have the power to do, you have acted with the utmost fairness. Our loss is considerable, it is true, but no more than we deserve under the circumstances. The only favor I will ask of you is that you will keep this a secret. It would be a blow to Mr. Whitemore, who I understand is nearly recovered from his trouble, and expects soon to be back among us, if he should learn the true facts of the case.”

“It shall go no further, Mr. Jarboe,” Vance assured him.

“Thank you,” and Mr. Jarboe took out his check-book and signed a check covering the sum due to Vance.

Then, with a bow and another handshake, he left the office.

It was closing-up time.