"We've been beaten, a few points, by that Pollard crowd," muttered Rhinds, his face lowering. "But we're not altogether walloped, Fred. The government is going to buy a good many submarine boats. Now, it isn't necessary for the government to have the boats all of one type, is it?"

"Of course not," Radwin assented.

"Just so," continued the older man, "now, we've made a pretty good showing, after all. So I have already begun with some telegrams to the Senators and Congressmen of our state—Oh, you mustn't feel that you always have advance information on all I'm doing, young man," chuckled Rhinds, noting the look of surprise in his companion's face. "I've started with our state's members in Congress, and soon I shall begin to go at 'em harder. Now, despite the fact that the Pollard boats have been able to gain a few points over us, I believe I can engineer matters so that the government will order two types of submarine, instead of one. In fact, Fred, when the government gives out its big orders for submarine boats, I hope to land forty per cent., at least, of the business."

Fred Radwin glanced cautiously around him, to make sure that no waiters stood within hearing distance. Then he hissed, sharply:

"Forty per cent. of the business, you say? I still intend to land one hundred per cent. of the submarine business for our company?"

"How?" asked the older man, eagerly.

"I'll think it over a while, before I tell you my definite plans."

"Be careful, Fred," warned Rhinds, "not to make any moves that will be our undoing!"

"Have I gotten you into any trouble yet, Mr. Rhinds?"

"No," admitted the older man, though he added, half-jeeringly: