"If you want to save a lot of money, Mr. Emerson," hinted George Melville, "you want to be very careful to keep it out of the Farnum investment."

"What's wrong with the Farnum business?" questioned the other capitalist.

"About everything, I believe," replied Mr. Melville. "And, even if the 'Pollard' were a capable a boat as its backers claim, it would still be beaten by the type of boat that I am now working on."

"Are you looking for capital for your submarine business?" asked
Broughton Emerson, a shrewd little twinkle in his eyes.

"No; I have all we want. Not a dollar is needed, but I don't like the idea of your losing a lot of money with that other crowd. They haven't any real show to do anything with their boat."

"They are a great lot of enthusiasts over at the Farnum yard," said Mr. Emerson, musingly. "I like people as enthusiastic as they are. Why, just think of those boys; what a bright lot they are!"

"Humph! In the end Farnum will wish he never seen those boys," sneered
Mr. Melville.

"Why?"

"Well, the boys are wholly ready to sell out all they know about the
Farnum boat."

"Are you sure of that, Melville?" demanded Mr. Emerson, opening his eyes more widely.