n improvement, Hugh," he said. I had a feeling that
I had gained ground, and from this time on I thought I detected a change
in his attitude toward me; there could be no doubt about the new attitude
of Mr. Scherer, who would often greet me now with a smile and a joke, and
sometimes went so far as to ask my opinions.... Then, about six months
later, came the famous Ribblevale case that aroused the moral indignation
of so many persons, among whom was Perry Blackwood.

"You know as well as I do, Hugh, how this thing is being manipulated," he
declared at Tom's one Sunday evening; "there was nothing the matter with
the Ribblevale Steel Company--it was as right as rain before Leonard
Dickinson and Grierson and Scherer and that crowd you train with began to
talk it down at the Club. Oh, they're very compassionate. I've heard 'em.
Dickinson, privately, doesn't think much of Ribblevale paper, and Pugh"
(the president of the Ribblevale) "seems worried and looks badly. It's
all very clever, but I'd hate to tell you in plain words what I'd call
it."

"Go ahead," I challenged him audaciously. "You haven't any proof that the
Ribblevale wasn't in trouble."

"I heard Mr. Pugh tell my father the other day it was a d--d outrage. He
couldn't catch up with these rumours, and some of his stockholders were
liquidating."

"You, don't suppose Pugh would want to admit his situation, do you?" I
asked.

"Pugh's a straight man," retorted Perry. "That's more than I can say for
any of the other gang, saving your presence. The unpleasant truth is that
Scherer and the Boyne people want the Ribblevale, and you ought to know
it if you don't." He looked at me very hard through the glasses he had
lately taken to wearing. Tom, who was lounging by the fire, shifted his
position uneasily. I smiled, and took another cigar.

"I believe Ralph is right, Perry, when he calls you a sentimentalist. For
you there's a tragedy behind every ordinary business transaction. The
Ribblevale people are having a hard time to keep their heads above water,
and immediately you smell conspiracy. Dickinson and Scherer have been
talking it down. How about it, Tom?"

But Tom, in these debates, was inclined to be noncommittal, although it
was clear they troubled him.

"Oh, don't ask me, Hughie," he said.

"I suppose I ought to cultivate the scientific point of view, and look
with impartial interest at this industrial cannibalism," returned Perry,
sarcastically. "Eat or be