"July first."

"If you default this contract you can't meet your notes."

"What notes?"

"Don't do the baby blue-eyes. You can't start a show like this without borrowing. Furthermore, if you default this contract, you'll never get another, even if you do weather the storm."

"That's true," said Welton.

"Furthermore," insisted Baker, "Marshall and Harding will be considerably embarrassed to fill their contracts down below; and the building operations will go bump for lack of material, if they fail to make good. You can't stand or fall alone in this kind of a game."

Welton said nothing, but puffed strongly on his cigar.

"You're still doing the Sister Anne toward Washington," said Baker, pleasantly. "This came over the 'phone. I wired Mr. Orde in your name, asking what prospects there were for a speedy settlement. There's what he says!" He flipped a piece of scratch paper over to Welton.

"Deadlock," read the latter slowly. "No immediate prospect. Will hasten matters through regular channels. Signed, Orde."

"Mr. Orde is familiar with the whole situation?" asked Baker.