not obliged to proceed in the
matter, and will drop it right here if you propose to start in by trying
extortion on me."

Levy was grieved that any one should so misconstrue his motives. "This
isn't a childish play we're going into, Mr. Covington," he replied,
mildly. "Gorham is big game, and I presume you expect to gain something
out of this little affair."

"You presume too much," Covington said, shortly. "Comments are neither
asked for nor desired. If you wish to do this work for me, I will pay
you a fair price--yes, a high price--for your services, but no
blood-money. I'll pay you a thousand dollars now as a retainer; I'll pay
all reasonable expenses and four thousand dollars more in case you find
anything of interest to me. Then, if I decide to use the information
later, I'll make a trade with you at that time on the basis of what it
is worth. Do you care to accept the case on these terms?"

"The conditions are most unusual," Levy wavered.

"The case itself is an unusual one," Covington replied. "The chances are
a hundred to one that you find nothing, in which case you will have
earned your fee easily. Beyond this the odds are at least as great that
I shall make no use of what you find out, anyway, which means that I
shall have paid a large price to gratify my whim."

"There is something in what you say," admitted Levy.

"Then you will undertake it on my terms?"

"Yes; give me your check for a thousand dollars and I'll start the ball
rolling."

"My check?" queried Covington. "I have no doubt currency will be equally
acceptable."

"Thank you very much," Levy replied, genially, placing the bills
carefully within a capacious wallet against the happy hour of five
o'clock in Mulligan's conveniently located saloon.

XIV

The merger of the New York street railways, which occurred three weeks
later, was Gorham's first chance to demonstrate to the public what the
Consolidated Companies could accomplish in handling a great metropolitan
transportation problem. The further he got into it, however, the more
serious the problem became, and he had moved slowly to prevent any
possible mistake. But now he was ready to proceed without further delay
to complete his previous negotiations to secure the traction franchise
for which Collins had bribed the Aldermen, and for a part interest in
which Brady had intimidated Collins. It had been a nauseating piece of
work even to Gorham, who had become only too familiar w