e did not know. There was no such thing as being positive
until the written report was in Mr. Bayard's hands. He would then have
absolute knowledge of the pool's intentions. Once clear in that behalf,
he would be able to meet and defeat them.

"Our start," quoth Mr. Bayard, "will be the Hanway report. Nor can we
come by that report too soon. It may lie buried for weeks before Senator
Hanway produces it in open Senate. Its production will take place the
day before the pool's activities begin. It will be deferred until the
market in its strength or weakness favors their aims. Wherefore, my
young friend," concluded Mr. Bayard, clapping a slim hand on Richard's
shoulder, "to work! That report is the key. Every day we have it in our
hands before it is read in the Senate means a million dollars."

Mr. Bayard forced upon Richard the mighty propriety of getting hold of
Senator Hanway's report; and Richard--to whom the report meant Dorothy
the peerless, not paltry millions--was carried to the impolite length of
bringing up the topic of Northern Consolidated at Mr. Gwynn's dinner.
Richard asked Senator Hanway the plump question of the committee's
labors, and what time its report would appear.

"The sessions," said Senator Hanway, who, being about his departure, was
getting into his Inverness at the time, "are still in progress. It will
be several weeks before the close of the hearings. Then there must be
time for deliberation; and finally a day or more for writing the report.
You may be sure, however," concluded Senator Hanway, "that the _Daily
Tory_ shall have it before the other papers. It shall be an exclusive
story; I promise you that."

And the next day comes the veracious Mr. Sands asking whether a verbatim
copy of that report would be of service to him!

No marvel Richard stared.

"Because," observed Mr. Sands, puffing an extremely repulsive cigar,
"I've got it here."

"Do you mean the report of Senator Hanway's committee that is
investigating Northern Consolidated?" cried Richard.

Mr. Sands tilted his derby over a confident left eye, blew a devastating
cloud, and said he did.

"It was only last night," observed Richard, still bitten of doubt, "that
Senator Hanway told me the committee had not ended its hearings."

Mr. Sands of the malignant cigar was not discouraged. Senator Hanway had
lied. All Senators lied, according to Mr. Sands. No man could be a
Senator unless he were a liar any more than a man could be