cally moribund, the
best way was to buy it outright. I am going to incorporate it with the
Cropstone Wood Estates and make one concern."

"You bought the Water Company behind our backs and never said a word
about it?" Montague demanded thickly.

"Why on earth should I say anything to you?" Jacob retorted.

"We had an option ourselves!" Littleham thundered, striking the desk
with his clenched fist.

"I remember your telling me so," Jacob observed. "I also remember your
telling me that it had another two months to run, whereas it expires
to-morrow. What I don't seem to remember, though, is your asking me
for my share of the contributing money."

Jacob had never appeared more guileless. The two men became speechless
in the face of his bland equanimity. Then Montague cleared his throat.

"Come, come," he remonstrated, "no need for any of us to lose our
tempers. Let us sit down and discuss this little matter like
gentlemen. I am quite sure Mr. Pratt will do the square thing. I
propose that we adjourn to the Milan. A bottle of the old sort, eh,
Pratt?"

Jacob leaned back in his chair, his finger tips pressed together, and
shook his head sorrowfully.

"I do not think," he said, "that I shall ever drink with either of you
again. You entered into a conspiracy behind my back to keep the
Cropstone Wood, Water and Electric Light Company in your joint
possession, your scheme being to make use of the old charter the
company possessed and to charge outrageous prices for the water and
lighting. With that in view, you relieved yourselves of your interest
in the land at some sacrifice, expecting to land me with the whole
estate, and leaving me to bear the whole brunt of the complaints and
the failure of the depositors to carry out their purchases. That, I
believe, is a fair outline of your scheme, Messrs. Montague and
Littleham--elaborated, mark you, after you had mentioned the matter of
the water and the lighting to me, on your first visit, and pointed out
the additional source of profit. You relied, I presume, either on my
blind confidence in you or my bad memory."

"I can assure you, Pratt," Mr. Montague began piteously,--

"Damn!" his confederate ejaculated with fervour.

"Fortunately," Jacob continued, "I am not quite such a mug as I must
have seemed to you. Before I parted with the money for the land, I
paid a visit to the offices of the Cropstone Wood, Water and Electric
Light Company, examined your option, and findi