s first overtures to us on his arrival from Europe, giving us to
understand that he owned or controlled the pipe-making patents
absolutely."

"At that time he controlled nothing, as I have explained," said Tom,
"not even his majority stock in Chiawassee Consolidated. Of course, he
resumed control as soon as he reached home, and his next move was to
have me quietly sandbagged while he froze my father out. But father did
not transfer the patents, for the simple reason that he couldn't. They
are my personal property, made over to me before the firm of Gordon and
Gordon came into existence."

The pipe-trust promoter nodded.

"You are the man we'll have to do business with, Mr. Gordon," he said
promptly. "Are you quite sure of your legal status in the case?"

"I have good advice. Hanchett, Goodloe and Tryson, Richmond Building,
are my attorneys. They will put you in the way of finding out anything
you'd like to know."

There was a pause while the New Yorker was making a memorandum of the
address. Then he went straight to the point.

"As I have said, I'm here to do business. We don't need the plant. Will
you sell us your patents?"

"Yes; on one condition."

"And that is--?"

"That you first put us out of business. You'll have to smash Chiawassee
Limited painstakingly and permanently before you can buy my holdings."

The shrewd-eyed gentleman who had unified practically all of the pipe
foundries in the United States smiled a gentle negative.

"That would be rather out of our line. If Mr Farley owned the patents,
and was disposed to fight us--as, indeed, he is not--we might try to
convince him. But we are not out for vengeance--another man's vengeance,
at that."

"Very well, then; you won't get what you've come after. The patents go
with the plant. You can't have one without the other," said Tom, eyeing
his opponent through half-closed lids.

"But we can buy the plant to-morrow, at a very reasonable figure.
Farley is anxious enough to come in out of the wet."

"Excuse me, Mr. Dracott, but you can't buy the plant at any price."

"Eh? Why can't we?"

"Because the majority of the stock will vote to fight you to a
standstill."

"But, my dear sir! Mr. Farley controls sixty-five per cent. of the
stock!"

"That is where you were lied to one more time," said Tom with great
coolness. "The capital stock of Chiawassee Limited is divided into one
thousand shares, all distributed. My father holds three hundred and
f