ng it illegal, as it was
signed only by the Chairman of the company, without notice to the
shareholders, I obtained one in my own name, which I exercised within
a few hours. I am now the sole owner of the Cropstone Wood, Water and
Electric Light Company and the Cropstone Wood Estates. Also of this
office, gentlemen, from which I beg that you will depart as quickly as
possible."

"I'm damned if I stir a foot!" Littleham declared furiously. "We've
been swindled!"

Jacob struck his bell, and Dauncey came in with a very grim look upon
his face. Mr. Dane Montague caught up his hat and plucked at the
sleeve of his companion.

"You shall hear from our solicitors," he spluttered.

"Delighted!" Jacob replied. "I should keep the six-and-eightpence,
though, if I were you."

Two very angry men were escorted off the premises. Then Dauncey
returned with a grin upon his face.

"I beg your pardon, Jacob," he said humbly. "I never dreamed that you
had them pickled. Tell me about it?"

"It was really very simple," Jacob explained. "They came to me with
two schemes, one legitimate, the other illegitimate. The legitimate
one appealed to me. I found the money, bought the estate, and saw that
they had a decent profit. As regards the illegitimate one, I met them
on their own ground. I got that young fellow whom we came across down
at Cropstone to look into the affairs of the Water and Lighting
Company, found that they were an absolutely moribund concern, bought
them out for cash, with the sole condition of secrecy, and sat tight.
If Montague and Littleham had kept their bargain--that is to say if
they had let me into their scheme for purchasing the Company--I should
have told them the truth, a few plain words would have passed, and I
should have compensated them for their disappointment. As it was, they
tried to be too clever. They tried to land me with the remainder of
the property, after they had made their profit, and with the money I
paid them they were going to take over what they imagined to be the
more profitable side of the deal, the Water and Lighting Company, and
leave me out of it. That's the long and short of it, Dick."

A gleam of admiration shone in Dauncey's eyes.

"My congratulations, Jacob," he murmured. "I have underestimated your
talents."

Jacob smiled benevolently.

"Dick," he rejoined, "we haven't yet had time to gain much experience
in the world of high finance, but here's one little truism which you
can