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ort of information. He was actually compelled to use his imagination to answer the shareholders' questions. This was painful and humiliating; he had never heard of any secretary having to use his imagination! He went further--it was insulting! He had grown grey in the service of the company. Mr. Scorrier would bear him out when he said he had a position to maintain--his name in the City was a high one; and, by George! he was going to keep it a high one; he would allow nobody to drag it in the dust--that ought clearly to be understood. His directors felt they were being treated like children; however that might be, it was absurd to suppose that he (Hemmings) could be treated like a child...! The secretary paused; his eyes seemed to bully the room. "If there were no London office," murmured Pippin, "the shareholders would get the same dividends." Hemmings gasped. "Come!" he said, "this is monstrous!" "What help did I get from London when I first came here? What help have I ever had?" Hemmings swayed, recovered, and with a forced smile replied that, if this were true, he had been standing on his head for years; he did not believe the attitude possible for such a length of time; personally he would have thought that he too had had a little something to say to the company's position, but no matter...! His irony was crushing.... It was possible that Mr. Pippin hoped to reverse the existing laws of the universe with regard to limited companies; he would merely say that he must not begin with a company of which he (Hemmings) happened to be secretary. Mr. Scorrier had hinted at excuses; for his part, with the best intentions in the world, he had great difficulty in seeing them. He would go further --he did not see them! The explosion...! Pippin shrank so visibly that Hemmings seemed troubled by a suspicion that he had gone too far. "We know," he said, "that it was trying for you...." "Trying!" "burst out Pippin. "No one can say," Hemmings resumed soothingly, "that we have not dealt liberally." Pippin made a motion of the head. "We think we have a good superintendent; I go further, an excellent superintendent. What I say is: Let's be pleasant! I am not making an unreasonable request!" He ended on a fitting note of jocularity; and, as if by consent, all three withdrew, each to his own room, without another word. In the course of the next day Pippin said to Scorrier: "It seems I have been very wic
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