oncerns, we ought not to weaken our capital, particularly
as financial affairs throughout the country are so unsettled. This is
not a brisk commercial year, nor can it be."

"Yes," admitted Bobby, "I've heard something of all this hard-times
talk. I know Nick Allstyne sold his French racer, and Nick's supposed
to be worth no end of money."

"Exactly," agreed Mr. Trimmer dryly. "This sixty thousand dollars'
worth of stock, Mr. Burnit, I am quite sure that I can place with
immediate purchasers, and if you will leave the matter to me I can
have it all represented in our next meeting without any bother at all
to you."

"Very kind of you, I am sure," agreed Bobby, thankful that this
trifling detail was not to bore him.

And so it was that the Burnit-Trimmer Merchandise Corporation was
incorporated at five hundred and sixty thousand dollars. It was
considerably later when Bobby realized the significance of the fact
that the subscribers to the additional capitalization consisted of Mr.
Trimmer's son, his son-in-law, his head bookkeeper, his confidential
secretary and his cousin, all of whom had also been minor
stock-holders in the concern of Trimmer and Company.

It was upon the day preceding the first stock-holders' meeting of the
reorganized company that Bobby, quite proud of the fact that he had
acted independently of them, made the formal announcement to Johnson
and Applerod that the great consolidation had been effected.

"Beginning with to-morrow morning, Mr. Johnson," said he to that
worthy, "the John Burnit Store will be merged into the Burnit-Trimmer
Merchandise Corporation, and Mr. Trimmer will doubtless send his
secretary to confer with you about an adjustment of the clerical
work."

"Yes, sir," said Mr. Johnson dismally, and rose to open the filing
case behind him. With his hand in the case he paused and turned a most
woebegone countenance to the junior Burnit. "We shall be very
regretful, Mr. Applerod and myself, to lose our positions, sir," he
stated. "We have grown up with the business from boyhood."

"Nonsense!" exploded Applerod. "We would be regretful if that were to
occur, but there is nothing of the sort possible. Why, Mr. Burnit, I
think this consolidation is the greatest thing that ever happened.
I've been in favor of it for years; and as for its losing me my
position--Pooh!" and he snapped his fingers.

"Applerod is quite right, Mr. Johnson," said Bobby severely. "Nothing
of the sort is conte