“Of course that puts it in a different light,” said Donald, rising and extending his hand to Vance. “I could not believe it possible that you, Mr. Gilder, could be guilty of writing such a libelous article as this is.”

Winthrop also accepted the explanation as eminently satisfactory, and sympathized with Vance in the loss of his position on the great New York daily.

“It has completely killed the lot selling business for me in Butte City,” said he, “but fortunately for us, we have made some very excellent sales during the past few weeks, and the Town Company’ has sufficient money in the treasury to pay all its debts, and the last obligation will be paid off before twelve o’clock to-day.”

“Yes,” said Marcus Donald, “they will all be paid off, but it will leave the treasury in a depleted condition; but the future, I believe, is all right. I hope you will not lose faith, Mr. Gilder, in Waterville’s prospects.”

“No,” said Vance, “I have unbounded faith in Waterville, but I would like very much to have the Town Company, if possible, return the $2,500 which I invested for my New York friends. It would save me much embarrassment if I could return them their money’. They doubtless know I have been dismissed from the force, and have read this last article, which puts an entirely’ different coloring on this western country’ from what I represented.”

"You must know,” said Winthrop, “that what you seek is next to impossible. The money has been paid into the treasury, and no difference how friendly I personally feel toward you, or how much the resident director, Mr. Donald, may wish to return the money, it cannot possibly be done without an action of the directors.”

At this juncture, Marcus Donald invited Vance to take a scat by his desk, and he would explain to him carefully and fully the situation, and believed he could prove to him conclusively why he was acting for his New York friends’ best interests in leaving the investment as it was.