She looked at him enigmatically. "Some one he trusted has turned out a traitor. That happens occasionally in business, you know."

It was from Colin himself that Clay learned the name of the traitor.

"It's that fellow Bromfield," he explained. "He's the secretary and second largest stockholder in the company. The annual election is to be to-morrow afternoon. He's got me where the wool's short. I was fool enough to ask the smaller stockholders to make out their proxies in his name. At that time he was hand in glove with us. Now I'm up against it. He's going to name the board of directors and have himself made president."

Clay ventured on thin ice. The name of Bromfield had not been mentioned to him before in the last twenty-four hours by either Beatrice or her father. "Surely Bromfield wouldn't want to offend you."

"That's exactly what he would want to do."

"But—"

"He's got his reasons."

"Isn't there some way to stop him, then?"

"I've been getting a wrinkle trying to figure out one. I'd certainly be in your debt if you could show me a way."

"When is the election?"