er the desirability of so dividing his present duties
that the responsibilities might rest on several shoulders instead of
upon his alone. It further recited that various criticisms of the
president would be considered at that time,--specifically, that Mr.
Gorham was using the Consolidated Companies for his own private ends;
that he prevented his associates from being recognized in their full
relation to the work, the credit for which he himself monopolized; that
he was devoting a large part of his time at the expense of the Companies
in straightening out certain domestic complications, as a result of
which the corporation was losing ground, and was even being threatened
by adverse legislation in Washington, against which it was his duty to
protect it. And finally, it was claimed that the president had at least
on one occasion taken advantage of his official position to make
certain investments for his own personal advantage.

A copy of this letter accidentally fell into Gorham's hands, and his
indignation at its needlessly antagonistic wording was tempered by
several elements of surprise. The frankness with which the grievances
were stated was an evidence that his associates were prepared to force
the break with him, and to dispense with whatever value his connection
with the corporation might have. The reference to his domestic
complications surprised him not a little, showing as it did a
familiarity with this subject which he had not supposed to have become
common property. The suggestion that he had been false to the ideals
which he himself had imposed could only be construed as a gratuitous
affront; yet these men who constituted the Executive Committee were not
those who would lightly do this. He could quite understand their
resentment of both his attitude and his words at the last meeting--he
had expected them to make an effort to wrest from him, but in such a way
as not to jeopardize their own interests, the supreme authority which he
had forced from them; yet they all knew him too well even to suggest any
transaction on his part so at variance with the standards which he had
established.

After thinking it all over, he sent for Covington, and as the younger
man entered he handed him the communication.

"Have you seen this before?" Gorham asked.

"Yes; Litchfield just showed it to me."

"What does it mean?"

"Compromise, I hope," Covington replied. "Nothing else can prevent a
great calamity to the Companie