“Joe,” said Orde, spinning a chair to Newmark's roll-top desk and speaking in a low tone, “just how do we stand on that upper peninsula stumpage?”

“What do you mean? How much of it is there? You know that as well as I do—about three hundred million.”

“No; I mean financially.”

“We've made two payments of seventy-five thousand each, and have still two to make of the same amount.”

“What could we borrow on it?”

“We don't want to borrow anything on it,” returned Newmark in a flash.

“Perhaps not; but if we should?”

“We might raise fifty or seventy-five thousand, I suppose.”

“Joe,” said Orde, “I want to raise about seventy-five thousand dollars on my share in this concern, if it can be done.”

“What's up?” inquired Newmark keenly.